Working with an ACA member

Contacting your local ACA member is the best way to find the right level of service for you. Most of our advisors offer several service options--one-time reviews, second opinions, and limited engagements, in addition to the open-ended retainer for which we are famous. But that first step is often a little scary, especially when you don't know what to expect, so on this page we illustrate what it's like to work with one of our advisors.

Is this a good match?

When you call, your advisor will be interested in learning a lot more about you and your situation. You'll be asked questions over the phone, and then you will probably be invited to come in for either a no-cost, no-obligation consultation or a paid Financial Review that allows you to test drive the relationship. You'll be asked to share a list of your assets and liabilities, along with copies of your tax returns for the prior three years. All of this is to help your advisor determine whether he or she is the right advisor for you, and for you to decide if you are comfortable with the advisor--an important key to the success of the relationship.

What's included in the advisory agreement?

Your advisor will go over the agreement with you in detail, explaining the costs, what services you can expect to receive (and any excluded services), what he or she expects from you, and how the agreement is terminated or renewed. Our advisors don't want you ever to sign something you don't understand, and that starts with the advisory agreement.

What appointments are held?

There is a lot of work to be done during the first year. Your advisor will be systematically reviewing every aspect of your financial situation and making appropriate recommendations.

Taxes

Your tax-related appointments may include Income Tax Preparation, Amending Prior Tax Returns and Tax Planning for the current year and beyond. Many clients find that the tax savings realized during these appointments more than cover the cost of their retainer. To maximize your tax savings in future years, your advisor may also schedule a Record Keeping appointment to get you up and running on an easy-to-use system.

Financial Planning

During the Portfolio Inventory and Analysis appointment, your advisor will work with you to construct a detailed listing of your assets, liabilities, and investments. This information is critical in order to make the best recommendations on other areas of your financial life.

For your Insurance Review appointment, your advisor will want to see all of your existing insurance policies and employee benefit handbooks. To the extent allowable by law, he or she will take the time to make sure that you understand your existing policies and any recommendations for changes.

You and your advisor will also hold an Estate Planning appointment. If you already have will or trust, it will be reviewed to make sure it is current and consistent with your goals. If it is not, or if you getting a will or trust has been on your to-do list, your advisor will work with you to put the appropriate plan in place at the best cost - and make sure that you understand what you are getting.

It may take up to six months to complete these initial steps. You might be getting a little impatient to get to the investment recommendations, but it is important to understand that your advisor cannot devise the best investment strategy for you without this in-depth review of your financial situation. Still one more piece is needed before the picture can be completed--your personal definition of financial independence.

Goal Setting is a pivotal appointment in the holistic financial planning process. Over and over again, ACA members find that when clients identify what is most important in their life, they rarely select "things." Instead, it is almost always doing what they most want to do, with the people most important to them, in the places they enjoy the most. Your advisor will help you define financial independence in your unique terms and will then be ready to fully focus on the strategies and vehicles that will allow you to live out your dreams.

Investments

The focus now turns to Investment Strategy. Here's where your advisor integrates everything that's been learned about you to make investment recommendations targed to your unique situation and goals. Depending on the complexity of your situation, it may be possible to implement all recommended changes immediately, or they may be done in stages. Regardless, your advisor will help you identify the most important things you need to do in the next year to reach your goals.

This is just the beginning.

At this point, your initial financial review is usually complete, but your relationship with your advisor is still just beginning. Your advisor is your partner in your personal success. He or she will schedule regular reviews of your tax and financial situation and will be there for you whenever "life happens."

Are you ready to get started? You can Find an Advisor in your area. Or if you want more information, visit our Consumer Resources section or request our free workbook, Seven Secrets to Financial Independence.

Each ACA member owns and operates his or her individual practice. There is variation in services provided, what those services are called, and the order in which they are delivered. But he or she will fully disclose the services you are paying for and how much you are paying for them.