Financial Planning

PROACTIVE. STRUCTURED. DISCIPLINED.

Our Approach

Financial Planning is a verb, not a noun.

At Covenant Wealth Partners, Financial Planning is an ongoing process, not just a document. When you partner with us, you aren’t just buying a financial plan - you’re buying into the process of Financial Planning.

Our Financial Planning process is designed to help you be proactive with your finances (rather than continually reactive) by providing a structure to manage your finances in an organized fashion year-in and year-out.

The 6 Areas of Financial Planning

A comprehensive financial plan covers these six main categories of financial planning. The decisions we make in one area may significantly impact the decisions we make in another. Before we get started on the details of each category, we first gain an understanding of your current financial position.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.

Our Planning Process

Whether you’re a business owner, a law firm partner, or an individual or family, we apply the same disciplined approach to partnering with you in Financial Planning.

The specific topics discussed and implementation of the plan will be custom-tailored to your particular situation, needs, and preferences. Click the arrows on the right to learn more about each step of our initial planning process.

  • This is where we get to know you. We’ll discuss what’s most important to you, prioritize your financial objectives and concerns, and clarify your personal values when it comes to money.

    We’ll assess your personal tolerance to investment risk, and gather all the information we need to thoroughly review your current position.

    We’ll also organize your finances and financial documents. We’ll setup your personal financial planning hub where you can securely upload documentation and link all of your financial accounts which will provide relevant data directly into our financial planning software.

  • We’ll evaluate your current cash flows and liabilities to maximize your monthly savings potential and managing existing debt as efficiently as possible.

    We’ll assess your current risk exposure and comb through your personal insurance portfolio, employer benefits and any existing estate planning items you’ve already completed to ensure you have the right amount and types of protection in place.

  • We’ll review your current investment account and create an allocation that is custom designed for you. We’ll look for ways to save you money in taxes now, as well as down the road, and make sure you’re making the most of employer-based retirement accounts.

    We’ll discuss both asset allocation (the investment strategy) and asset location (which accounts make the most sense for YOU to use).

    We’ll explore different avenues for accumulation: whether it be education funding, investment properties, tax-efficient investment strategies, and more.

  • Review & discuss financial planning recommendations and acceptable alternatives

    Choose which recommendations to be implemented

    Create implementation checklist and discuss implementation & monitoring responsibilities and timeline

    Delivery of written recommendations, financial statements, and relevant projections

  • At this stage of our journey together, we move from planning to action. Our first step is to bring our agreed-upon recommendations to life. It's all about turning those strategies and ideas into tangible steps that move you closer to your financial goals.

    This involves a collaborative effort, not just between us, but also with any relevant outside professionals like CPAs and attorneys, to ensure every aspect of your financial strategy is cohesive and aligned.

  • We’ll set up an appropriate review schedule tailored to your unique financial landscape, ensuring we're always on top of your financial journey. As time unfolds, we'll diligently track your progress, keeping an eye on how well we're meeting your goals and making any necessary adjustments along the way.

    Life is full of changes, and as such, your financial plan should be flexible. Whether you're facing major life transitions or minor shifts, I'm here to provide ongoing support and updates to your plan, ensuring it remains aligned with your evolving needs and objectives. Together, we'll ensure that your financial plan continues to work for you, adapting seamlessly to life's inevitable changes.

Get organized.

When you partner with us in Financial Planning, you’ll get your own personal financial website. This is a user-friendly interactive tool that we will use together to both build your plan and track your progress along the way. It’s a great tool for you to get and stay organized, and it is our comprehensive financial planning software.

Key Features of Ongoing Financial Planning:

  • Your own personalized financial website, through our financial planning software, RightCapital.

  • A structured and proactive approach to stay on top of your finances year-in and year-out, so that nothing gets left between the cracks.

  • Financial statements and written plan provided annually.

  • Accountability & partnership to help you align your actions with your long-term aspirations.

  • Comprehensive and detailed projections and analysis to help you make better decisions for your unique situation.

  • A long-term partnership where your advisor is there to provide guidance and answers as needed.

  • A fee-for-advice based relationship that is designed to minimize potential conflicts of interest.

  • Coordination with outside professionals such as your attorney, or CPA