A high-level review of your financial health, goals, and concerns.
A Financial Blueprint Creates a Confident Place From Which to Build
To get to where you want to go, you need to know where you are starting from.
An M&C Sketch provides you this baseline.
It's a structured, high-level financial review with one of our experienced financial professionals. We use leading tools, combined with what we learn about you to highlight:
Cash flow and spending
Risk tolerance of your current investments
Projected confidence in reaching key goals
Summary of next step and actions to consider
An investment in knowledge always pays the best interest
- Benjamin Franklin
What is a Financial Sketch?
A financial sketch is a high level review of your current financial situation. It concludes with a summary of key aspects of your finances, observations made by a financial professional, and their list of unique considerations based on what was found.
To be clear, this is not a financial plan. That is certainly a service Moors & Cabot provides and recommends for everyone. The task of creating a full financial plan will very likely be a consideration coming out of the sketch process, among others.
The Sketch Process
When we designed M&C Sketch, we did it around one main goal. It had to be easy. That's why we only ask a few basic questions up front. Read on for a summary of what's involved in a sketch.
The GTKY (Getting to Know You) Session
After completing the form below, a member of our sketch team will reach out and arrange a time for a meeting (video preferred). We call this the GTKY (Getting to Know You) session. If you have a spouse/partner with whom you share your finances, please include them. This quick 15-20 minute session is focused on three things:
Meeting your sketch team member
Understanding your top three concerns
Learning about the rest of the process and your "homework"
Ok, no one likes homework. This will be easy, engaging, and maybe even a little fun.
(It's ok if you don't want to admit it.)
It's necessary to gain the information we need to produce a useful sketch. It also helps you focus on (and be active in) taking stock of your financial situation. There are three core parts to the homework, with some optional elements if deemed relevant during the GTKY session. We can see when you have completed items one through three and will send you reminders (if you need them).
Download the free Account Mapping app (Powered by CircleBlack)
Here, you can connect your key accounts (spend, credit, investments) and share the balances with the sketch team. This app is useful to you, as well, to see how you are spending and how your investments are performing. Regardless of where the sketch leads, this is yours to keep.
Complete a short risk tolerance questionnaire (powered by Riskalyze)
This will help us (and likely you) understand what type of investor you are. The questions will challenge you to assess how comfortable you are with a positive or negative change in investments due to fluctuations in the market.
Outline your Top Two to Three Goals (Powered by Envestnet MoneyGuide)
It's important to prioritize goals, including "by when". Saving for retirement, a home, or college? Paying off student loan debt? Combined with the data from the first two items, our sketch team can highlight how achievable these goals appear to be, and what changes may be necessary to achieve them.
Assess Insurance Needs
In some cases, we will recommend you answer a few questions in a tool we provide and bring the results to the sketch session. Insurance is a vital component of sound financial management and this will assess if insurance considerations should be discussed.
Assess Income and Spending
Analysis of spending and income can help reveal opportunities to save more and drive greater monthly cash flow. If deemed appropriate, we will ask you to link your primary spending (checking and credit cards) accounts into a tool we will provide.
Once the homework is complete, it's our turn. Our sketch team reviews the data and creates the sketch report, including:
Overview of your risk tolerance and the risk of any current investments
Asset allocation of investments
Confidence and concerns with reaching your prioritized goals
A summary list of considerations
(Optional) Summary of spending and cash flow, with highlights and concerns
Sketch Results Session
A sketch without the accompanying context provided by a financial professional is like having the blueprints to build a UFO.
We will email you when the sketch is ready and allow you to select an available time to schedule a Sketch Results Session (video preferred). Reserve about one hour for this session. The session will cover the following:
Summary of all parts of the sketch
Review of the considerations outlined in the sketch
Open discussion (so bring your questions)
While we believe having a full service financial professional is beneficial to everyone (it's kind of what we do), this service is always no obligation. The sketch report and app are always yours to keep.
Watch the video below to see an outline of the sketch process.
Ready to Sketch?
To request a sketch, please fill out the form below to get started.
By clicking submit, you agree to allow Moors & Cabot to contact you to share organizational updates, content, and offers. Moors & Cabot respects your privacy and will not share your information with any 3rd parties.
Past performance does not guarantee future results. All investments carry risk and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any kind of investing they choose to do. The information provided herein is not intended to replace or serve as a substitute for any legal, real estate, tax, or other professional advice, consultation or service.