Most people go through life thinking little about their personal finances. They close their eyes, move ahead and hope for the best. Whether they succeed depends largely on luck.
For people who don’t want to pin their hopes for financial success on luck, we have the answer. It’s called comprehensive financial planning. Associates of Mentor Capital Management Inc. have the expertise, the objectivity (because we are purely fee-only) and the resources to help people assure financial success and create peace of mind.
Our work begins with a no-obligation initial consultation, during which we discuss with the potential client their financial concerns, their goals and their objectives. Together we determine whether our services are appropriate and of value. We agree on the terms of the engagement and discuss our fee.
Next we gather data from the client virtually everything related to the client’s finances: income and expense, assets and liabilities, employee benefits, taxes, insurance and estate plan. The timing of the client’s goals as well as his or her risk tolerance are also taken into consideration.
We then perform a complete analysis of the data and prepare a comprehensive written financial plan that includes specific recommendations aimed at improving asset utilization and goal achievement. We work with the client throughout the year to implement the plan and to help manage any financial issue that arises.
Our recommendations typically fall among six areas: