![]() Note: The above case study is hypothetical and does not involve an actual Kardinal Financial client. Kardinal Financial's ongoing relationship framework ensures Mike and Elaine's financial plan evolves with their lives. They also have a structure to regularly review and update their financial lives, and a financial partner to rely upon as life inevitably changes. Not only have Mike and Elaine taken these steps in their financial plan. Creating an overarching investment policy statement, and delegating the management of accounts to Kardinal Financial.Reviewing all investment accounts and consolidating/simplifying where appropriate.Specifying a plan for irregular income (like Elaine's stock compensation).Understanding their tax picture and which tax-advantaged accounts are best suited to their goals.Identifying how much to save for each of their top priorities (retirement, education, vacation home).Creating a savings hierarchy for 401(k)s, IRAs, 529s, HSAs, taxable accounts, and other savings.Developing a bank account structure, complete with a separate emergency fund and short-term savings earning a competitive interest rate.Mike and Elaine's achievements during the onboarding process include: Mike & Elaine's financial snapshot from RightCapital planning softwareīy the end of the onboarding process, Mike and Elaine feel confident in their family's financial outlook and are relieved to have a plan for their most pressing concerns. ![]() Particular attention is given to Mike and Elaine's primary pain points, while also ensuring the rest of their financial picture is analyzed and in alignment with their values and goals. Given the breadth of these topics, we meet several times over the first six months of the relationship to focus on each major component of the financial plan. With the foundation firmly in place, we work together over several months to create Mike and Elaine's financial plan. With this information, we lay the foundation for Mike and Elaine's financial plan. We begin by establishing where Mike and Elaine are today by gathering documents, linking accounts to the financial planning and budgeting software, and establishing cash flow expectations. Ultimately, Mike and Elaine want confidence that they are on track for their goals and making smart financial decisions.
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