Form ADV 2A Version: 01/15/2024
Financial Planning Services
We provide financial planning services. Financial planning is a comprehensive evaluation
of a client’s current and future financial state by using currently known variables to
predict future cash flows, asset values and withdrawal plans. Through the financial
planning process, all questions, information and analysis are considered as they impact
and are impacted by the entire financial and life situation of the client. Clients purchasing
this service receive a written report which provides the client with a detailed financial
plan designed to assist the client achieve his or her financial goals and objectives.
In general, the financial plan can address any or all of the following areas:
• PERSONAL: We review family records, budgeting, personal liability, estate
information and financial goals.
• TAX & CASH FLOW: We analyze the client’s income tax and spending and
planning for past, current and future years; then illustrate the impact of various
investments on the client's current income tax and future tax liability.
• INVESTMENTS: We analyze investment alternatives and their effect on the
client's portfolio.
• INSURANCE: We review existing policies to ensure proper coverage for life,
health, disability, long-term care, liability, home and automobile.
• RETIREMENT: We analyze current strategies and investment plans to help the
client achieve his or her retirement goals.
• DEATH & DISABILITY: We review the client’s cash needs at death, income
needs of surviving dependents, estate planning and disability income.
• ESTATE: We assist the client in assessing and developing long-term strategies,
including as appropriate, living trusts, wills, review estate tax, powers of
attorney, asset protection plans, nursing homes, Medicaid and elder law.
We gather required information through in-depth personal interviews. Information
gathered includes the client's current financial status, tax status, future goals, returns
objectives and attitudes towards risk. We carefully review documents supplied by the
client, including a questionnaire completed by the client, and prepare a written report.
Should the client choose to implement the recommendations contained in the plan, we
suggest the client work closely with his/her attorney, accountant, insurance agent,
and/or stockbroker. Implementation of financial plan recommendations is entirely at the
client's discretion.
We also provide general non-securities advice on topics such as tax and budgetary
planning, estate planning and business planning.
Typically, the financial plan is presented to the client within six months of the contract
date, provided that all information needed to prepare the financial plan has been
promptly provided.
Financial Planning recommendations are not limited to any specific product or service
offered by a broker-dealer or insurance company. All recommendations are of a generic
nature.
A client or prospective client leaving an employer typically has several options regarding
an existing retirement plan, including but not limited to leaving the money with the
former employer, roll over the plan to a new employer or Individual Retirement Account
(“IRA”). If VCP recommends that a client roll over their retirement plan assets into an
account to be managed by VCP, such a recommendation creates a conflict of interest if VCP
earns an advisory fee on the rolled over assets. No client is under any obligation to rollover
retirement plan assets to an account managed by VCP Financial. When acting insuch
capacity, VCP serves as a fiduciary under the Employee Retirement Income SecurityAct
(ERISA) and adhere to the Department of Labor’s best interest conduct standard by acting
in the best interest of our investors, charging our clients
or accepting no more than
reasonable compensation for our services and products, and never make false or
misleading statements to clients. See additional disclosures in ERISA section below under
General Information.
Pension Consulting Services
We also provide several advisory services separately or in combination. While the
primary clients for these services are pension, profit sharing and 401(k) plans, we offer
these services, where appropriate, to individuals and trusts, estates and charitable
organizations. Pension Consulting Services are comprised of four distinct services. Clients
can choose to use any or all of these services.
Investment Policy Statement Preparation (hereinafter referred to as ''IPS''):
We will meet with the client (in person or over the telephone) to determine an appropriate
investment strategy that reflects the plan sponsor's stated investment objectives for
management of the overall plan. Our firm then prepares a written IPS detailing those
needs and goals, including an encompassing policy under which these goals are to be
achieved. The IPS also lists the criteria for selection of investment vehicles as well as the
procedures and timing interval for monitoring of investment performance.
Selection of Investment Vehicles:
C. Client Tailored Services and Client Imposed Restrictions
We assist plan sponsors in constructing appropriate asset allocation models. We will then
review various mutual funds (both index and managed) to determine which investments
are appropriate to implement the client's IPS. The number of investments to be
recommended will be determined by the client, based on the IPS.
Monitoring of Investment Performance:
We monitor client investments continually, based on the procedures and timing intervals
delineated in the Investment Policy Statement. Although our firm is not involved in any
way in the purchase or sale of these investments, we evaluate the client's portfolio and
will make recommendations to the client as market factors and the client's needs dictate.
Employee Communications:
For pension, profit sharing and 401(k) plan clients with individual plan participants
exercising control over assets in their own account (''self-directed plans''), based on the
agreement with the client, we also provide quarterly educational support and investment
workshops designed for the plan participants when the plan sponsor engages our firm to
provide these services. The nature of the topics to be covered will be determined by us
and the client under the guidelines established in ERISA Section 404(c). The educational
support and investment workshops will NOT provide plan participants with
individualized, tailored investment advice or individualized, tailored asset allocation
recommendations.
Consulting Services
Clients can also receive investment advice on a more focused basis. This may include
advice on only an isolated area(s) of concern such as estate planning, retirement planning,
or any other specific topic. We also provide specific consultation and administrative
services regarding investment and financial concerns of the client.
Consulting recommendations are not limited to any specific product or service offered by
a broker-dealer or insurance company. All recommendations are of a generic nature.
VCP offers the same suite of services to all of its clients. However, specific client
investment strategies and their implementation are dependent upon the client Investment
Policy Statement which outlines each client’s current situation (income, tax levels, and risk
tolerance levels) and is used to construct a client specific plan to aid in the selection of a
portfolio that matches restrictions, needs, and targets.
E. Amounts Under Management