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Your Financial Plan: Getting Started

Drew Deimel

08/30/2021 — Download

Different people invest for different reasons. So it makes sense that your reasons for investing should be understood by whoever is going to manage your investments—and well before they start investing your money. At HBKS, that means creating a financial plan, and it begins with your first meeting with your HBKS advisor.

The first meeting
We discuss your needs and objectives, your reasons for investing, for implementing a financial plan. What are you looking to us to help you accomplish? Among the many reasons clients seek our expertise are:

  • To help them understand better where they stand financially and to organize their finances
  • To start saving to have enough to retire comfortably and live the retirement life they envision
  • To start saving for their children’s college educations
  • For the right kind and amount of life and disability insurance
  • To plan their estate, how their assets will be distributed in the most tax-efficient manner after their deaths

Explaining our holistic approach
As a registered investment advisory and in collaboration with our CPA partner firm, HBK CPAs & Consultants, we can address clients’ needs holistically, as individuals and as business owners. Our first meeting includes a discussion of our wide range of capabilities as to how they can accommodate the most sophisticated and diverse needs, including:

  • The HBKS wealth advisory for holistic financial planning, including individual and corporate investing
  • Our Retirement Planning Unit, which develops and oversees retirement plans for business owners and their employees
  • Our ability to secure the appropriate life and disability policies to protect your income and assets
  • A Corporate Finance group to provide guidance on selling or acquiring a business as well as strategic exit planning
  • Personal income tax and estate and gift tax planning with the support of our CPA partners and Tax Advisory Group
  • Business valuation services, as well as litigation and forensics support for such issues as divorce or bankruptcy
  • A Risk Advisory Services unit to help you develop an effective cybersecurity program that protects you and your business from cyber crime

Gathering information
Our ability to work with you to develop a thorough and appropriate financial plan is rooted in our in a comprehensive understanding of your financial position. We take a deep dive into your finances, including:

  • Tax returns
  • Insurance policies
  • Investment allocations and statements
  • Your work benefits
  • Your qualified and non-qualified investment accounts

Once we have gathered your information, we will do a thorough analysis, including using the industry’s most sophisticated financial analysis software. In a subsequent meeting, we will show you exactly where you stand and what it will take to get where you want to go.

The plan
Based on the information we have gathered and our analysis, we use the data to develop a wide range of scenarios, from best to worse case, then create your financial plan, a set and series of recommendations regarding your goals and objectives.

On an ongoing basis, we review your financial plan to ensure you are on track toward achieving your financial goals and that your plan accommodates the changing circumstances of your life.


The information included in this document is for general, informational purposes only. It does not contain any investment advice and does not address any individual facts and circumstances. As such, it cannot be relied on as providing any investment advice. If you would like investment advice regarding your specific facts and circumstances, please contact a qualified financial advisor.

Any investment involves some degree of risk, and different types of investments involve varying degrees of risk, including loss of principal. It should not be assumed that future performance of any specific investment, strategy or allocation (including those recommended by HBKS® Wealth Advisors) will be profitable or equal the corresponding indicated or intended results or performance level(s). Past performance of any security, indices, strategy or allocation may not be indicative of future results.

The historical and current information as to rules, laws, guidelines or benefits contained in this document is a summary of information obtained from or prepared by other sources. It has not been independently verified, but was obtained from sources believed to be reliable. HBKS® Wealth Advisors does not guarantee the accuracy of this information and does not assume liability for any errors in information obtained from or prepared by these other sources.

HBKS® Wealth Advisors is not a legal or accounting firm, and does not render legal, accounting or tax advice. You should contact an attorney or CPA if you wish to receive legal, accounting or tax advice.

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