Financial Planning-
In connection with
our financial planning, Farrow Financial, Inc. reviews personal and financial information from clients. We use this
information to provide the client with a written financial plan. The plan is designed to assist the client in achieving his
or her stated financial goals and objectives.
Each financial
plan generally addresses the following areas:
Personal: Family
records, budgeting, personal liability, estate information, and financial goals.
Taxes & Cash
Flow: Income tax, spending analysis, and planning for past, current, and future years.
Death & Disability:
Cash needs at death, income needs of surviving dependents, estate planning, and disability income analysis.
Retirement: Analysis
of current strategies and investment plans to help the client achieve his or her retirement goals. The plan is not intended
to project the future value of accrual portfolio holdings, or actual future income. Rather it provides a general idea of how
a particular mix of assets similar to a hypothetical portfolio has performed historically.
Investments: Analysis
of investment alternatives and recommendations based on the plan’s results.
Farrow Financial,
Inc. gathers the required information through in-depth personal interviews with our clients and questionnaires. The information
includes the client’s current financial status, future goals, and attitudes towards risk. Farrow Financial, Inc. reviews
any related documents that the client has supplied, including the completed questionnaires.
Should a client
choose to implement the plan’s recommendations, Farrow Financial, Inc. then recommends that the client work closely
with his or her attorney, accountant, insurance agent, and stockbroker. It is entirely up to the client to implement Farrow
Financial, Inc.’s final recommendations.
The client can
elect to engage in one-time financial planning, or financial planning with annual plan updates.
Investment management (non-continuous supervision)-
This service provides
the client with non discretionary account monitoring and recommendations guided by his or her stated objectives. These accounts
are typically held at bank trust departments. Farrow Financial, Inc. does not monitor the assets on a continuous basis, but
rather periodically. The trustee or other person with investment authority can override our advice if he or she chooses.
In order to determine
the client’s individual needs, Farrow Financial, Inc. develops an individual Investment Policy Statement for the client,
and frequently holds discussions with the client to review goals and objectives for the investment portfolio. A complete financial
plan is available if the client requests it.
At least once a
year, Farrow Financial, Inc. holds two consultation meetings either in person or over the phone. One of the meetings is between
the client and Farrow Financial, Inc. The other meeting includes the client, the trustee, and Farrow Financial, Inc. In both
meetings, we discuss and update, if necessary, any changes to the client’s personal situation and to the investment
strategy, as well as conduct a portfolio review. Farrow Financial, Inc. also hold periodical investment review meetings separately
with the trustees.
The trustee sends
the client copies of all trade confirmations and monthly statements, as well as an annual 1099. FFI will report date-to-date
performance to the client on a quarterly basis.
Continuously Supervised Investment Management-
This service provides
the client with continuous management of investment assets based on the client’s individual needs. Farrow Financial,
Inc. monitors the client’s investment portfolio on a continuous basis and makes changes to the portfolio as warranted.
In order to determine
the client’s needs, Farrow Financial, Inc.develops a complete financial plan as described above and an individual Investment
Policy Statement. Farrow Financial, Inc. holds frequent discussions with the client to review goals and objectives for the
investment portfolio.
Subsequently, at
least once a year a manager from Farrow Financial, Inc. has a consultation meeting either on the phone or in person with the
client. During these meetings, the client’s personal situations are discussed, as well as changes in portfolio strategy.
Farrow Financial, Inc.updates the Investment Policy Statement if necessary. Farrow Financial, Inc. also reviews trading activity,
performance for the previous year and current market conditions.
Each client will
have the opportunity to place reasonable restrictions on the type of investments to be held in the portfolios.
