Our Process, Your GoalsGreenStar Advisors provide financial and investment services in Denver and surrounding Front Range communities. Our process is designed to discover what is most important to you and to help you connect with those goals. Below are outlined four key steps to helping our clients pursue their financial and investment goals.
Step 1: Decipher GoalsSometimes people know exactly what they want but more often than not, we’ve found our clients have a rough sense of what they want. They may simply want to not run out of money. They may have some big purchase goal such as a major vacation, funding education or buying a second home. Our objective is to hone it what is most important to you.
Step 2: Organize where assets are, their value and calculate a net worthThe numbers process starts with a measure of where you are right now. Often over a lifetime of saving up money, people will have their assets scattered in various places. It’s not rare that people will have several 401(k)s at past employers or many small IRAs. This step simply involves listing everything out. At a minimum people will walk away with a snapshot of where everything is. This can be useful for any number of reasons. If you were to become incapacitated or pass away, this provides a simple way for people to know where everything is. In doing this with clients they’ve found accounts that they had nearly forgotten about or small life insurance policies that if they had passed away their heirs may not have discovered. In our process this serves two key functions. First of all it tells us what you have to work with toward meeting your goals; it is our box of “tools” to get you there. Secondly it often reveals overlap in investments. Sometimes having lots of investment accounts feels like diversification when in reality they can be invested in many of the same types of asset classes. We will go over any overlap with you and look at spreading out your risk.
Step 3: Line up Assets to GoalsIn this step we address the achievability of your goals. If you are planning to take an income stream that would put you at risk of depleting your assets, we will help you navigate what a safer withdrawal number would be. It is here where we will look specifically at what you’re invested in and if it is in the right place to pursue your goals.
Step 4: Place or Transfer Assets to the Track to Meet GoalsOnce we’ve plotted your trajectory, we then work to line up your assets to your goals. This means transferring and consolidating accounts. We find that most people want their finances as simple as possible and it is at this point that you may choose to consolidate some of those smaller accounts. We will handle all of this for you. Also, if we have discovered that you have overlap or that there are other investments more suited to your goals, we will discuss those recommendations with you and make changes with you if necessary.