What is Elements? It’s a visually compelling app-based system that will help you gain a clear, consolidated view of your financial life. Using information and insight from Elements, we can help you identify the next, best steps you can take toward your long-term goals. We believe this has been a missing piece in the retirement planning and advisory world: A crystal-clear picture of now. After all, the achievement of future financial objectives is just a long series of “nows” stacked up one after the other.
Just as a medical professional would measure the basics of your health (weight, blood pressure, heart rate, pulmonary function) each time you visit, we want you to have a solid handle on your financial vital signs. In Elements, those indicators include your rates of saving and spending, equity exposure, liquidity, insurance coverage, and more.
Once you create your account credentials, you'll be invited by Elements to enter information about your assets, debts, income, and spending through a self-guided onboarding workflow on the web. Of course we're here to help if you need us! Fill out what you can and please note that several types of accounts can be linked directly to Elements, which will help you stay current with less effort and more accuracy. You can log into the app to check your progress or update your data whenever you like. As a service to all clients using Elements, Interlake will send progress reports at the start of each calendar quarter.
Beyond its monitoring function, Elements enables us to collaborate on a One-Page Plan to connect your Elements scorecard (example above in the first widget on this page) to a Statement of Financial Purpose and a list of specific goals. There’s a lot to it—more than we can describe in this summary—but the premise of Elements is simple: Where do you stand today, and what does that mean for what you should do tomorrow?