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The 5-Step Planning Process for Chiropractors

The 5-Step Planning Process for Chiropractors

  1. Meet to discuss the planning process – Discuss the adviser’s role and responsibilities and jointly determine the expectations. Review the chiropractic practice and set up an outline of what needs to be done for the practice.

  2. Learn about the Chiropractors practice, financial situation and determine goals – This involves extensive fact-finding that identifies the client’s current situation, goals and time horizons, but also develops an understanding of client’s risk tolerance and general values. The adviser determines client’s financial status using tax returns, cash flow projections, investment summaries, existing insurance coverage, employment benefits, and legal documentation. The adviser identifies all the risks that exist to threaten financial security.

  3. Develop and present analysis that is specific to the needs and concerns of the Chiropractor – This comprehensive program may include:
    • Client’s current and projected financial situation.
    • Projections for client’s retirement planning to determine possible shortfalls.
    • Estimates to preserve your current and future estate.
    • Projections of college education expenses and funding alternatives.
    • Evaluations of income tax strategies. Identification of deficiencies for capital needs at death or disability.
    • Investment strategies with asset allocation based models using modern portfolio theory and top-down analysis. Securities and investment advisory services offered exclusively through HTK.

  4. Implementation of program – The adviser is responsible to assist in completing and executing the plan*. This process will involve working with other professional advisers to ensure the plan is implemented correctly for the Chiropractor.

  5. Monitoring and reviewing program – Because the plan is comprehensive and involves long-term planning, it needs to be reviewed regularly to evaluate changes in the Chiropractor’s situation as well as changes in tax law or economic conditions that will affect target outcomes.

*This plan is provided free of charge without any obligation for purchase.