Discovery Meeting Client Name Date Client Information Last Name First Name Date of Birth Occupation Spouse Information Last Name First Name Date of Birth Occupation Child Information Child 1 Last Name First Name Date of Birth Child 2 Last Name First Name Date of Birth Child 3 Last Name First Name Date of Birth Your Address Address Line 1 Address Line 2 City State Zip Email Phone Attitudes/Values/Perception 1. What is important to you about money? Stated differently, what difference does it make if you have $1M (or more) in the bank vs. not having it? What is the difference about your life in either case? 2. In response to the above question, why is that (or are those things) important to you? 3. What aspects of your finances are uncomfortable to you? What could be improved? 4. What’s the best investment you’ve ever made? The worst? Why? 5. What do you expect would happen to your family if you suddenly passed away? 6. What are your thoughts about how your wealth is currently or will someday affect your children & grandchildren? Goals 7. What specific financial milestones are you building toward? (Art & Science) 8. Why are those important to you? 9. What else would you like to achieve with your wealth? 10. What ways would you like to financially help your family? 11. Are there important charities you’d like to benefit either during your life or after your death? Have you put any plans in place to ensure this happens? Family Circumstances 12. Tell me about your family. 13. Has your family situation changed significantly in the past 2 years? How do you expect it to change going forward? 14. What family issues should we consider in your planning? 15. Who else in your family will be impacted by any plans we make? 16. Are there important charities you’d like to benefit either during your life or after your death? Have you put any plans in place to ensure this happens? Personal/Legacy 17. How do you like to spend your time when you’re not working? 18. How would you like others to remember you? 19. What is the key to understanding you that most people miss? 20. How would you like your estate to pass? (Heirs? Gov? Charity?) 21. Do you think your heirs have the financial acumen to handle your estate? 22. How do you feel about your spouse’s ability to manage assets after you are gone? Will your spouse stay in the same house? 23. What debt will need to be paid off? 24. What income will your spouse need? 25. Does your estate plan include charitable giving? 26. What are your three biggest concerns financially right now? 27. What has been your approach to solving financial issues in the past? Who do you seek advice from and what has been your process for making decisions? Income 28. What are your current sources of income? What do you estimate is your total income from all sources right now? 29. Has your income changed in the last three years? Do you expect your income to change in the next three years going forward? 30. On average, how much are you spending on a monthly basis? Are you comfortable with that amount? 31. Do you feel you make enough money, or would you like to be making more? How much more? 32. What do you expect your sources of income to be when you retire? 33. Do you have a strategy for when you will begin taking social security benefits? 34. What are the 3 most critical decisions you need to make this year and what do you have to know to make these decisions wisely? 35. What plans have you made for your future? 36. Do you have a written estate plan? 37. What comes to mind when you hear the word “Taxes”? Which ones loom largest in your mind? 38. How frequently have you switched professional advisers in the past three years? 39. How involved do you like to be in the management of your finances? 40. Have you recently made any gifts to charity, your church or a school? Do you intend to? Assets 41. What types of accounts do you own today? 42. What type of assets do you own today? (Examples are stocks, bonds, mutual funds, hedge funds, real estate, closely held business, cash value life insurance, employer stock options, etc.) 43. What is the total value of your accounts? $0 - $50,0000 $50,000 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $1,000,000+ 44. What would you estimate your real estate value to be? 45. What concerns do you have about your current investments? 46. How are your assets structured now? Do you own them personally, through a corporate entity, in trust, etc.? 47. What haven’t I asked you so far that’s important for understanding your situation? Business Ownership 48. Do you own a business? 49. What type of business? 50. What’s your company’s name, address (city, state, zip) and website? , 51. What does your company do? 52. How did you get started in the business? When? 53. How has it performed versus original expectations? 54. How many companies do you own? 55. Type of Entity for your primary business? 56. Do you have any business partners? How many? 57. What percent of the company do you own? 58. How many employees does this company have? 59. How are things going with the business? 60. Do you have a buy sell agreement? Is it funded? 61. How are you different than your competition? What makes your business successful? 62. How has your business changed in the last three years? 63. Where do you expect the business to be in three years? Estimated annual growth rate? 64. What are your major business concerns? What keeps you up at night? 65. What do you like least about running the business vs the best? 66. What do you think could keep you from achieving your future business plans? 67. Do you have a written business plan? When was it last updated? 68. If you could change one thing, what would it be? 69. What is your greatest wish for the business? 70. What is the average gross revenue annually? % Net on Gross Revenue After Tax? 71. What do you estimate your business to be worth today? 72. Has your estimate changed in the last three years? How so? 73. How should the purchase price be paid for? 74. Is the current location an adequate size? Additional space or Locations? 75. Any new lines of business? Equipment production needs? 76. Is there a need for additional capital? Expansion, Equipment, Locations etc. 77. Is there intellectual property? 78. Do you have any of the following types of accounts: Qualified Company Plan (401k, Defined Benefit Plan, etc.)Profit Sharing PlanIRA or Roth IRAESOPSection 79 PlanStock AccountOther 79. Are you maxing out your contributions to these plans? 80. What would a partnership/investor buyout timeline look like? 81. What role do you anticipate your business will play in funding your retirement? Percentage? 82. What employees are critical to running the business daily? Do you think these employees would be able to take your place if you had to leave for an extended period? Are any of these employees’ family members? 83. Years till retirement? 84. Is there liquidity to buy/out owners? 85. Would Equity be limited to family members: Spouse, Parents, Grandparents, Siblings 86. Would they have to work in the business? How Long? 87. Impact on Profits and Revenues if Owner Leaves Remain the same Decline minimally Decline moderately Plummet 88. When was the most recent company valuation done? 89. What is your exit plan from the business? Are there family issues that may affect your exit plan? 90. Have you considered the potential federal and state estate tax liability associated with the transfer of your business. 91. How will taxes be paid? 92. How will the business be disposed of at Retirement/Disability/ or Death: Family Member(s)Other OwnersKey Employee(s)CompetitorLiquidatedUndecidedOther 93. How would you rate your companies’ level of debt? Have you personally guaranteed any debt? 94. Do you have a plan for maximizing the value of your business to create income for your retirement years? 95. What benefits/perks do you currently receive from your company? 96. Please provide any other updates or details that you feel would be relevant in our planning efforts moving forward. 97. What haven’t I asked you so far that’s important for understanding your situation? View Printable Version Powered by Core Partners
