Optimizing Your Financial Plan With The CFO Center
Optimizing Your Financial Plan With The CFO Center™
As part of our comprehensive financial planning process, the Hurlow Wealth Management Group uses the CFO Center™ in multiple ways. In addition to quickly viewing a financial snapshot, clients access the CFO Center to efficiently keep track of family members' birthdays, professional contacts, and the location of important documents. Additionally, our financial advisors employ the software to review goals and what-if scenarios regarding future planning opportunities.
Personal Financial Website
The intuitive software allows our clients a single access point to view their net worth securely. Easily link financial institutions through secure online login connections to view:
- Employer-sponsored retirement accounts
- Taxable brokerage and trust accounts
- Tax-deferred IRAs
- Roth IRAs
- Health savings accounts
- Bank accounts
- Credit cards
- Mortgages and auto loans
- Student loans
- Insurance protection
Planning Software
Our decision center helps clients visualize their future based on today's choices. This robust analysis tool allows us to plot changes in their assets and make adjustments to calculate optimal outcomes. Common planning scenarios that we engage in include:
- Cash-flow modeling
- Early retirement
- Stress-testing insurance coverage
- Target asset allocation
- Education funding
- Timing social security
- Sale of a business
- Estate planning
The Vault
The Vault is a searchable repository where our clients store files and where our advisors upload post-meeting notes. The "Shared Documents" folder provides clients with a way to send documents to advisors securely. The "My Private Documents" folder is for saving files that the client wants to keep safe but does not wish to share with anyone.
Types of files uploaded documents to the Vault could be:
- Identification: Driver's Licenses, Passports, Birth Certificates
- Media: Video Recordings, Photos, Audio Recordings
- Legal Documents: Wills, Deeds, Trusts, Buy/Sell agreements, Marriage License, Titles to home and auto
- Other: Tax Returns & W-2 Forms, Pay Stubs, Employment Benefits, Insurance Policies, Social Security statements
Reports
Included in our annual comprehensive review, we analyze multiple reports produced by the CFO Center™. In-between meetings, our clients can always access their Balance Sheets (current and expected future for estate planning purposes), Cash Flow Reports (including planned savings, and withdrawals), Education Plans (cost of education, options for meeting education needs, cost of waiting, etc.), Investments (asset allocation, stocks by sector, holdings gain/loss reports, etc.), Insurance and more.
What's Next?
Clients who desire assistance setting up their CFO Center should contact our client service team to set up a concierge call. If you are not yet a client, but would like access to the CFO Center, click here to set up an introductory call today.
