Stress Test Process

Gold Family Wealth has designed and employs a systematic process to “Stress Test” your financial plans. 

Stress testing can be a very smart way to help make certain that your plan will deliver as promised. The fact is, many financial plans might look great on paper and all too often prove to be much less impactful once they are implemented. Stress testing will cut through everything and uncover if there are any flaws or gaps that need to be addressed as well as to provide alternatives, better ways to achieve your desired outcomes.

The Gold Family Wealth Stress Test Process:

  1. Discovery/Goal Setting. A thorough understanding of your current course of action and what you want to accomplish.Please note: your goals, should always be at the forefront as the driving forces behind any financial and legal solutions you employ.
  2. Comprehensive objective assessment and evaluation of existing services and products. Evaluation of your current situationto determine if your plan is aligned with your goals and/or if there are any gaps that need to be closed.

The Gold Family Wealth stress test will have one of three outcomes:

  1. Stay the course.Many times when you do stress testing it turns out what you have is the right answer, it’s working. Sometimes it requires tweaking, but it works. GFW will make adjustment recommendations.
  2. Choose different solutions.If the stress testing finds what may be described as a system failure—meaning, the financial products currently being used are not going to achieve your desired results and might even cause a problem—the right move is to take a different course of action.  GFW will suggest alternate solutions that are better suited to achive your goals.
  3. Choose a different professional.If the professionals currently involved are really not up to the task of implementing your solutions (or they charge too much), it will maymake sense to switch to more capable and/or cost-effective experts. From our trusted partner network, GFW will make referrals to professionals that are better aligned to your needs.

 

Watch this video on getting a Second-Opinion

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