Templates
Uncategorized
Quality Financial Plan Checklist

Quality Financial Plan Checklist

1
Personal Information:
2
Employment Income
3
Marital Status
4
Other Income
5
Dependants
6
State of Residence
7
Personal Health
8
Life Expectancy
9
State of Residence (In Retirement)
10
Smoking Preference
11
Resource Data Required:
12
Sources of retirement income
13
Net worth
14
Taxable accounts
15
Tax deferred accounts
16
Emergence account
17
Tax free accounts
18
Social security optimization
19
Other assets (real estate, illiquid investments, etc.)
20
Willingness to save more
21
Current cash flow analysis
22
Deferred comp
23
Stock options
24
Restricted stock
25
Goals and Objectives:
26
Desired retirement age
27
Health care costs (Medicare Part B, D, Medigap, Out of Pocket)
28
Basic retirement needs (food, clothing, shelter, taxes, utilities, etc.)
29
Expectations of what retirement will be like
30
General concerns or worries about retirement
31
Leave bequest/charitable giving
32
Major purchases
33
Travel goals
34
Car goals
35
Education goals
36
Home improvement goals
37
Providing care for parents
38
Wedding
39
Other
40
Liabilities Required for Plan:
41
Mortgage
42
Credit card debt
43
Taxes owed
44
HELOC
45
Alimony or other recurring obligations
46
Student Debt
47
Vehicle loans
48
Business debt
49
Risk data:
50
Client market risk/loss tolerance
51
Life insurance needs
52
Co-client risk
53
Inflation risk
54
Longevity risk
55
LTC needs
56
DI needs
57
P/C or Umbrella needs
58
Results data required:
59
Impact for inflation
60
Impact of additional savings
61
Impact of asset allocation
62
Impact of lower returns on plan
63
Impact of long-term care needs
64
Impact of unexpected losses on plan
65
Impact of premature death on plan
66
Likelihood of funding all goals (Monte Carlo)
67
Likelihood of funding basic needs (Monte Carlo)
68
Impact of sequence of returns on plan
69
Impact of concentrated stock exposure to plan
70
Impact of cut to social security or pension to plan
71
Creation of Withdrawal Policy / Investment Policy Statements