Financial Planning

Everyone's financial situation is unique, and that's why the Financial Planners at Baylake Bank will listen closely to your specific goals, needs, and priorities. 

What is financial planning and why is it valuable?

Financial planning is the process of determining how you can meet your life goals through the proper management of your financial resources. Through this collaborative process, we blend the financial and non-financial sides of your life and reflect how changes in your personal circumstances and market/economic conditions can affect your financial future.

In essence, the financial plan is meant to be a “road map” for you, helping you to visualize possible courses of action for your personal circumstances and goals and providing direction to your financial choices. Therefore, whatever the “good life” means to you, Baylake Bank Wealth Services can help you get there! 

What a Financial Planner Can Do For You!

  • Professionally analyze your financial situation and make appropriate recommendations.
  • Utilize the financial planning process to develop a specific course of action based on your goals.
  • Explain investments, taxes, and estate planning techniques, and how these issues may affect your financial future.
  • Coordinate with other Baylake Bank specialists, when required or desired, to provide you with the most comprehensive advice and service. 

What do you want the title of your roadmap to be?

Whether you are interested in investing for today, leaving a legacy, wealth retention & strategy development, a future filled with promise, or all of the above, Baylake Bank’s Financial Planning services will help you create a customized, cost-effective path to achieve your goals.  

The Financial Planning Process

1) Of primary importance, we will discuss our client-planner relationship — defining the nature of it, how we will collaborate throughout the process, and how decisions will be made as we proceed.

2) Next, we will discuss your personal and financial goals, needs, and priorities. In addition, we will gather information regarding your financial life, such as, significant dates (e.g. anticipated retirement dates), incomes, investments, and personal expenses (e.g. upcoming weddings, vehicle purchases, or family vacations). All of these items help us to better understand your current situation. (Please note that for Issue-Based Plans, only specific sources of information are required, depending on the area of focus.)

3) We will review all of your financial data and develop a preliminary analysis, in light of your goals, which we will then review with you.

4) Subsequently, we will develop and present you with a financial plan and recommendations tailored to meet your personal and financial goals.

5) Together, we will implement the recommendations you have chosen to put into action. Should you require or desire the service of any other experts, we will be happy to coordinate their work with ours.

6) Finally, we will continue to monitor and update your plan in response to any changes in your personal and/or financial situation. Our ultimate goal is to make sure you achieve yours! 

Levels of Planning

Comprehensive Financial Planning

If you have goals or concerns in multiple areas of your life, this is the level of planning for you. Through a full review of your finances, we will analyze and highlight the most critical areas, determining how these areas impact each other and what steps you can take to achieve your life goals.

Issue-Based Financial Planning

For those of you more interested in having a specific goal or concern addressed, this is the level of planning most appropriate for you. By focusing our analysis, we are able to customize your plan to address the specific goal you have in mind.

Specific Areas of Analysis

Areas of analysis that can be focused on include:

  • Asset Allocation
  • Cash Flow
  • Estate Planning
  • Life Insurance
  • Long-Term Care
  • Net Worth
  • Retirement  

Start Your Plan Today

Getting Started…What Is the Most Important To You?

What are your goals for your future? We will discuss your short-term and long-term goals, needs, and priorities. We encourage you to spend some time thinking about these and writing them down in order to begin preparing your financial plan.   

Data Gather Checklist


  • Income tax returns from the last two years
  • Social Security statements
  • Total of debts owed to individuals
  • Budget of personal and living expenses
  • Current wills and trust agreements
  • List of all real estate (including market value and cost basis)
  • Current statements for all investment ventures, partnerships, stocks, bonds, mutual funds, cash accounts, etc.
  • Most recent report of vested interests in pensions, IRAs, profitsharing plans (e.g. 401k, ESOP) and other tax-favored retirement plans (e.g. 403b, SEP)
  • Documents pertaining to other corporate benefit plans
  • Current statements of any life, disability, or long-term care insurance policies
  • Other relevant personal documents 


  • Income tax returns from the last two years
  • Financial statements
  • Other relevant business documents 

Download our Financial Plan Data Gathering Checklist