Traditional financial planning involves hours of pouring over the details of one's life. The financial planner then produces a weighty assessment of one's total situation pointing out all weaknesses and then offering solutions. It sounds great doesn't it! This has become the primary way financial services are sold in today's marketplace. We question whether any single individual can really advise a client on all phases of his financial life. Think about. it. A single financial planner often is providing advice on tax planning, estate planning, insurance and investments. Each one of these areas is very complicated and requires a lot of specialized knowledge. We believe an individual would be better served using a CPA for his tax planning, an attorney for his estate planning, an insurance specialist for his insurance, and a professional investment advisor for investment advice. Not only will the individual be getting better quality advice, but the combination of these independent experts also provides a system of checks and balances for the client.

Not surprising, we prefer a different approach to financial planning. We have noticed that with traditional financial planning those impressive comprehensive financial plans often go unread. The whole process tends to be static. As an alternative, we use a dynamic approach to financial planning. We prefer a tool that we can use to track progress toward a stated set of goals.

While we do not claim to be financial planners and we do not sell financial plans to our clients, we do strive to find out as much about our clients as possible. Obviously, the more we know about an individual's situation and goals, the better job we can do for them as their investment advisor. We start with the client, not all the piles of paper that represent his financial life. We want to know what our client's needs might be and what his dreams and goals are. Once we have a firm understanding of what our client is about, we then look at what assets the client has to work with and what the client wants his assets to do. Based on this input, we structure a portfolio designed to help the client achieve his goals. We have the capability to test our strategies with computer simulations to determine the probability of achieving these goals. We monitor the portfolio's progress, and we make any necessary adjustments to keep the strategy on course. If you would like to learn more about Orion Capital Management's dynamic Wealthcare approach to financial planning, please contact us.