With 26 years of planning experience and a client retention rate in the high 90% range, Matt Bayer has designed a planning process that creates an enjoyable experience from the first consultation. “Starting and/or making changes to your financial plan can be an intimidating hurdle filled with emotion. We try to create an environment where new and old investors feel they can talk openly about their experiences without being judged.” explains Matt Bayer. “It’s not our job to focus on the problems of the past, but create a path to future success based on where our clients are today.” The planning process outlined below will help to illustrate BFG’s path for success.
Meeting #1: Initial Consultation (Complimentary)
The Initial Consultation is designed to be a “Howdy-Do”. It gives us both a chance to get to know each other and make sure we can stand being in the same room. You will receive a Confidential Questionnaire to fill out prior to this meeting. This questionnaire is designed to help put your thoughts and ideas on paper, give a thumb-nail view of your situation and give the meeting structure. Generally, recommendations will not be given during this meeting. This is your chance to ask questions of a financial professional without cost. This meeting is the foundation or our relationship.
Meeting #2: Data (Complimentary)
This meeting is a more detailed Fact Finding session. You have typically been given homework at the Initial Consultation to gather statements, tax returns, budget numbers, etc. This is where Matt’s 21 years of experience really gets to work. He will go through your situation with a fine tooth comb until all the issues have been addressed and understood. This meeting may be spread over more than one session if necessary. No recommendations will be given during this meeting. This meeting dictates risk exposure/tolerance, liquidity needs, time frames, current cost analysis, estate needs, income, etc.
Meeting #3: Recommendations (Complimentary)
This meeting is where all the previous discussions come together in a plan for the future. Matt will go through his recommendations in a very detailed manner outlining costs, benefits, liquidity, estate protections, risks, income etc. Most people comment that this is when Matt puts on his teaching cap to help make his clients understand the “Why” of his recommendations and “How” the accounts are used at different times of life. It is not uncommon for these recommendations to include previous holdings. In cases where positions seem to be worth keeping, representative and broker/dealer changes allow BFG to manage existing holdings. It is Matt’s goal to only recommend changes that reduce overlap, over-funding, lower tax burdens, preserve the estate, lower costs and are deemed necessary to accomplish the client’s goals. No one is expected to make a decision at this meeting. A lot of information is covered and it is preferred all prospective clients take time to review the recommendations and develop questions before implementation.
Meeting #4: Client Implementation
Congratulations to you for becoming a BFG client! Congratulations to us for doing a good just of understanding your needs and putting together a plan that gives you confidence to form a long-term relationship with BFG! Matt will work with the BFG Service Team to fill out the appropriate forms to get any accounts established. Transfers will be initiated from our end and tracked daily. Once all of the accounts are established, a meeting will be scheduled to go through account summaries, statements and any other correspondence that may have been received. This is just the beginning. There is no end to the planning process. Events affecting you, your family and work will create needs for periodic adjustments and continued client service.
Continued Client Service:
We have taken the time to begin a relationship and put all the pieces in place to move us down the path to success. As one famous person said, “Life is something that happens to you while you are planning to do something else”. We service our clients based on this statement. The more we know what is going in your life and the more you know what is going on at BFG, the greater the chance we both have of having success in this relationship.
Typical Service Calendar:
- 2-4 Client Reviews (detailed meetings with Matt)
- 2-4 Client Contacts (email/phone call to touch base/check on changes)
- Monthly Newsletter (optional)
- Invites to Client Appreciation Events
- BFG Benefits Membership
The goal is a Proactive, NOT Reactive, Relationship.