Financial Planning

 

How to get started.

Figuring out how to pull your finances together and make a sound financial plan can be daunting at first. Here’s an overview of how I, as CFP® professional, can help you design a secure financial future, as well as some tips for protecting your money

 

Bringing all the pieces of your financial life togehter

If your financial life seems to be spinning out of control, you’re not alone.

Today more than ever, a Certified Financial Planner™ professional is an essential resource. From budgeting, to planning for retirement, to saving for education, to managing your taxes and your insurance coverage, “finances” doesn’t mean just one thing for most Americans—and “financial planning” means much more than just investing. Bringing all the pieces of your financial life together is a challenging task. Although many professionals may call themselves “financial planners”,  as a CFP® professional I have completed extensive training and experience requirements and are held to rigorous ethical standards. I understand all the complexities of the changing financial climate and know how to make recommendations in your best interest

WHY YOU NEED A FINANCIAL PLAN • BENEFITS OF FINANCIAL PLANNING • THE FINANCIAL PLANNING PROCESS

Financial planning takes the guesswork out of managing your finances and helps you understand the implications of each financial decision you make. Everyone has different goals, so it’s important to have a unique plan that works for you and your financial situation, both now and in the future.

Benefits of Financial Planning

The average American faces an uncertain economy and more options for saving and investing than ever before. It’s easy to feel overwhelmed or confused, unless you find a way to understand the big picture. As a CFP® professional I can bring clarity to all your finances and help you develop a strategy, so it’s easier to make financial decisions, set long and short-term life goals, and stay on track.  Working with a CFP® professional can secure your financial well being and give you peace of mind. Some people decide to do their own financial planning, but you may want to seek help from a CFP® professional if you:

• Want to better manage your finances, but aren’t sure where to start
• Don’t have time to do your own financial planning
• Want a professional opinion about the plan you’ve developed
• Don’t have sufficient expertise in certain areas such as investments, insurance, taxes or retirement planning
• Have an immediate need or unexpected life event

 

The Financial Planning Process

Coming up with a solid financial plan means doing some homework—both on your part and my part as your CFP® professional. From examining your current situation, to setting goals, to deciding how to measure your progress, a CFP® professional is uniquely qualified to take you through the financial planning process.

In six steps, you and I will:

  1. Agree on how to work together:  As your CFP® professional I will explain the services provided and define each of your responsibilities. Along with compensation, you’ll discuss how long the professional relationship will last and how you and I will make decisions.
  2. Gather information about your finances and set goals: You and I will talk about your current financial situation and gather any necessary documents. Together, you’ll define your personal and financial goals, including timeframes. You may also want to discuss your comfort level when it comes to taking financial risks. Our Riskalyzer tool assists in this evaluation. 
  3. Analyze and strategize: As your CFP® professional I will take all your finances into account and determine how to meet your goals. The analysis may cover your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
  4. Develop recommendations: Next, I will go over his financial recommendations, explaining the rationale so you can make informed decisions and will address your questions and concerns and revise his recommendations if necessary.
  5. Put plan into motion: You and I will need to agree on how the recommendations will be carried out. I will carry out the recommendations herself or serve as your coach, coordinating the process with you and other professionals, like attorneys and CPAs.
  6. Monitor progress and stay on track: As you work towards your goals, you and I need to decide who will monitor your progress to make sure you’re staying on track. I will check in from time to time, reviewing your situation and making any necessary adjustments to his recommendations.

Most people think all financial planners are “certified”, but this isn’t true. Anyone can use the title “financial planner”. Only those who have fulfilled the certification and renewal requirements of CFP Board can display the CFP® certification trademarks which represent a high level of competency, ethics and professionalism. And because they are held to a fiduciary standard of care when providing financial planning services, a CFP® professional is required to act in your best interest.

If you are ready to begin the process to provide a plan for your future, you may send an email or give us a call to ask questions and to schedule a consultation

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