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A financial plan is built on what is true on the day it is written: your income, your goals, the tax rules and the markets. All of those change. A plan that is never revisited slowly stops describing your life.
Once a year, as a baseline
An annual review is a common baseline during a steady stretch of life. It is a chance to check the numbers against the plan, update contributions for the new year’s limits, and confirm the portfolio still matches the level of risk you agreed to.
When something changes
Some events are worth a conversation as soon as they happen, rather than at the next annual meeting:
- a new job, a job loss, or a change in income
- marriage, separation or divorce
- a new child or grandchild, or a child leaving home
- an inheritance
- selling a business or a property
- a change in health
- a retirement date moving closer, or further away
What a review looks at
A review compares where you are with where the plan expected you to be, checks whether your goals have moved, and adjusts only the parts that no longer fit.
Why the same advisor matters
A review is easier when the person across the table already knows the history: why the plan was set up the way it was, and what you were concerned about last time. With an ongoing advisory relationship, that history stays with one person.
If your plan has not been looked at in more than a year, or something on the list above has happened, an introductory meeting is a good place to start.