Our Process
A Clear Roadmap
At Waymark Wealth Management, we know a plan only works when you act on it. Our personalized process uses behavioral finance to understand your values and decision-making, so advice is tailored and actionable. With concierge-level service, we provide a clear roadmap for investments, retirement, estate planning, risk management, insurance, cash flow, budgeting, taxes, and supporting loved ones—aligning your money with what matters most.
Goal Setting & the VISOR Process
The purpose of establishing the goal or relationship is to form the foundation or purpose of planning itself - to begin the financial journey with the clarification of a financial destination. Too many people save and invest money with no specific goal in mind. Going a bit deeper, too many people have financial destinations but these goals are not their own; the goals are whatever the so-called conventional wisdom has taught. The purpose of money must follow the purpose of life, not the other way around.
To flesh out your strategic & tactical goals, we use a proprietary method called our VISOR process. VISOR is an acronym for:
V
Vision: Paint a picture of how your completed goals would look.
I
Importance: How important are these goals to you?
S
Supporting Resources: What is working for you?
O
Obstacles: What is working against you?
R
Readiness: Emotional & overall readiness to pursue your goals.
Data Gathering
This step is where the information required to make recommendations is gathered. We'll need to know your annual income, savings rate, years until retirement, the age at which you are eligible to receive Social Security and/or a pension, how much you've saved to date, expected rate of return, and more.
Although you may already know this information, it is invaluable to have it all written down so that you can visualize all of the necessary data required to make informed decisions. It is also critical to have some level of redundancy in case you become unable to manage your own finances. This information will be recorded in your personalized Waymark Online Client Portal, and it can be accessed anytime by you or by whomever you choose to share this information (e.g. spouse, children, attorney, accountant, etc.).
Analysis Presentation & Implementation
This is where we marry your qualitative goals with your quantitative data. Here, we present you with how you are progressing with your retirement, savings, cash flow, and education savings goals. We also will provide an objective analysis of your current investment portfolio and a review of your current estate plan. And all analyses and recommendations take your personal tax situation into account.
As simple as this sounds, many people find that implementation is the most difficult step in financial planning. Although you have the plan developed, it takes discipline and desire to put it into action. This is where inaction grows into procrastination. The point is to make your financial strategies realistic and actionable.
Monitoring
It's called "financial planning" for a reason: plans evolve and change just like life. Once the plan is created, it's essentially a piece of history. This is why the plan needs to be monitored and modified from time to time. Think of what can change in your life, such as marriage, the birth of children, career changes, and more. Now think of financial changes beyond your control, such as tax law changes, interest rates, inflation rates, stock market fluctuations, and economic recessions. These events all require new perspectives on life and finance.