The Garrett Planning Network’s Seven Steps to Financial Success is a win-win approach to
financial planning for clients and advisors. It spells out step-by-step Garrett’s simple-to-understand-
and-implement approach to building a brighter financial future.
STEP 1: Initial Inquiry
ADVISOR’S RESPONSIBILITIES: Barnett Financial Planning will provide a brief description of its
services, philosophies, methodology, and fee structure. Barnett Financial Planning will direct you to
its firm’s Web site or mail you an introductory packet to help you learn more.
CLIENT’S RESPONSIBILITIES: If the Barnett Financial Planning’s services appear to fit your needs,
Barnett Financial Planning will schedule a Free Get-Acquainted Meeting in person or on the
telephone, and at the same time provide you with additional information to help you learn more.
STEP 2: Free Get-Acquainted Meeting
ADVISOR’S RESPONSIBILITIES: Barnett Financial Planning will meet with you free of charge for a
one-hour “Get-Acquainted” meeting. It’s an opportunity to exchange information about your needs
and objectives, to further discuss which of its services are right for you, and to provide you an
estimate of the cost of its services. Remember, Garrett advisors do not accept commissions, and
instead charge for their services on an hourly, as-needed basis.
CLIENT’S RESPONSIBILITIES: If you choose to use Barnett Financial Planning’s services, Barnett
Financial Planning will provide a list of additional information that they will need to begin formulating
your personal financial plan.
STEP 3: Data Gathering and Initial Preparation
ADVISOR’S RESPONSIBILITIES: After receiving your information, your advisor will begin to review
and develop your custom financial plan. The advisor will prepare initial reports that he or she will
discuss with you at your next meeting.
CLIENT’S RESPONSIBILITIES: You will need to gather the requested data and then possibly
complete a risk tolerance questionnaire provided by your advisor. This information will need to be
provided to your advisor before your next meeting.
STEP 4: Interactive Goal Setting
ADVISOR’S RESPONSIBILITIES: Depending on your individual circumstances, this meeting may or
may not be necessary. If it is, it can be in person or via teleconference. The advisor will work with you
to further discuss and clarify the information you have provided thus far, and to refine your financial
goals and objectives.
CLIENT’S RESPONSIBILITIES: This is another opportunity for you to clarify your current situation,
financial goals and objectives, and to discuss with your advisor any additional questions and
STEP 5: Analysis and Plan Formulation
ADVISOR’S RESPONSIBILITIES: Barnett Financial Planning will refine the information you have
provided and study various plan scenarios. Barnett Financial Planning concludes its research and
analysis, and produces the final reports that include observations, assumptions, specific
recommendations, and an action plan for your unique situation.
CLIENT’S RESPONSIBILITIES: The ball is in your advisor’s court. All you have to do at this point is
await your next meeting with your advisor.
STEP 6: Presentation of Your Financial Plan
ADVISOR’S RESPONSIBILITIES: You and your advisor review your personal financial plan and his
or her specific recommendations.
CLIENT’S RESPONSIBILITIES: Congratulations! You now hold your personal blueprint for financial
success designed with your financial goals in mind. You are empowered with specific
recommendations to implement your financial plan. If you wish, you may employ your advisor further
to assist you in carrying out that plan.
STEP 7: Financial Checkups
ADVISOR’S RESPONSIBILITIES: Periodic update meetings and reviews are essential to maintain
good fiscal health. Your advisor can schedule these periodic meetings with you at whatever
frequency you think appropriate.
CLIENT’S RESPONSIBILITIES: Financial planning is an ongoing process, not a one-time event.
Proper implementation of a financial plan and periodic professional reviews are crucial to reaching
your financial goals. We urge prompt attention. It’s about your financial future.
SEVEN STEPS TO FINANCIAL SUCCESS
ORANGE COUNTY OFFICE
1442 Irvine Blvd., #212
Tustin, CA 92780
RIVERSIDE COUNTY OFFICE
11801 Pierce St., 2nd Floor
Riverside, CA 92505
|Barnett Financial Planning