We often receive calls from individuals and families who are just starting their financial journey, all asking the same question – where do I start? You may have questions about buying your first home, paying down student debt, saving for your child’s education, starting a household budget, selecting employment benefits, saving for retirement, and other similar financial planning concerns. These questions are why CCMI developed the First Step Financial Plan. If you have not worked with a financial planner before, you may have questions surrounding the process and costs, as well as, the benefits of having a professional evaluation of your financial situation. We thought we’d share answers to the most common questions we receive about CCMI’s First Step Financial Plan.
What is a First Step Financial Plan?
Think of a financial plan as a road map for your financial journey. We provide you with recommendations based on your individual situation and give you the tools for implementation. We also provide detailed projections of your financial future which help you track your progress in the coming years.
How many meetings are there?
There are three meetings involved in CCMI’s First Step Financial Planning Process. The first meeting is a complimentary introductory meeting for you and a CCMI advisor to discuss your needs and expectations, and it is an evaluation to see if we are mutually a good fit. In the second meeting, you and your advisor will go through a detailed and comprehensive review of your finances and goals to start to build your personalized road map to financial peace of mind. The third meeting occurs after you have received your Financial Plan and it is a chance for you to ask any additional questions about the plan or on any of the recommendations that were made.
Who will I be working with?
You will meet with at least one of the four Certified Financial PlannerTM (CFP®) Professionals at CCMI. Each advisor has gone through rigorous course work and has successfully completed the CFP® Exam. The advisors are also required to obtain continuing education credits to stay up-to-date on relevant planning techniques and strategies. The CCMI team is available to help start the financial planning process for you and your family.
How much does it cost to do a First Step Financial Plan?
CCMI bills on an hourly basis so the fee for our professional services will vary with the complexity and scope of the plan. The only compensation we receive comes directly from our clients. This means CCMI does not sell insurance products, annuities, nor do we receive referral compensation from third parties. This allows CCMI to remain objective and provide you with advice without the inherent conflicts of interest that come with selling commission-based products (i.e. life insurance, annuities etc.).
What happens after the plan is complete?
After your First Step Financial Plan is complete, CCMI remains on your team as you progress through our recommendations and we will follow up with you to check-in on your progress. Remember, we are only a phone call away if you have questions or if your circumstances change. Once we establish a baseline for your financial journey, if changes need to be made, the time it takes to update a plan is less.
CCMI is here to provide you with a high level of service. If you are thinking about starting the financial planning process for the first time, give CCMI a call to see if the First Step Financial Plan is a good fit to meet your needs.
CCMI provides personalized fee-only financial planning and investment management services to business owners, professionals, individuals and families in San Diego and throughout the country. CCMI has a team of CERTIFIED FINANCIAL PLANNERTM professionals who act as fiduciaries, which means our clients’ interests always come first.
How can we help you?