We believe that our service model is a major reason why so many of our clients stay with us year after year. Should we mutually decide to start working together, we will do a complete and thorough analysis of your current financial picture, goals, risks, help you understand if you are on or off track to meet those goals, as well as make you aware of the risks you may or may not be aware of that could derail your financial plan.
From there, we address what we feel are the major priorities to be dealt with as soon as possible. We like to focus our efforts initially on the activities that will make the most impact and/or are the most critical, rather than overwhelm you with many items to address all at once.
After this on-boarding phase, you'll transition into Breakwater's standardized client review process. We believe it is our review process that makes Breakwater shine. We also firmly believe that it is the client review meeting that is at the heart of a productive, trusting, long-term, client/planner relationship. For most clients, we meet every six months. One of those biannual meetings will be in person, and the other one is usually a virtual meeting using phones and easy-to-use screen sharing software.
During each review meeting we plan to review and discuss the following:
Making sure we have your statement of net worth up-to-date and accurate
Checking open items from prior meetings
Reviewing and verifying your goals, income, and priorities
Most importantly, we make sure that we cover your top priorities which we will inquire about in advance of our meeting to make sure that we are prepared
Our six-month reviews are broken up into four distinct service packages. So, over a two-year period, all of the service packages are covered and then the process is repeated, starting with the beginning of the next two-year cycle. The service models are not set in stone because each client's needs are unique. So we will always focus on what matters most to you (along with covering relevant timely topics like tax law changes, market ups and downs, cyber security, changes to estate planning laws, etc.)