Working with a Certified Financial Planner (CFP) will help you develop an effective financial plan.
Personal financial planning focuses on you as an individual – bringing together all the financial and psychological factors that have an impact on your life.
A well-designed financial plan will help you reach your personal financial goals and objectives, and give you a greater sense of security.
Many people call themselves financial planners, but the true professional financial planning practitioner uses the Total Financial Planning Process, which is made up of six distinct steps.
- Helps you clarify your present situation by collecting and assessing all relevant financial data – assets and liabilities, tax returns, records of securities transactions, insurance policies, wills and pension plans.
- Helps you to identify financial and personal goals and objectives, and also to clarify your financial and personal values and attitudes.
- Helps you to identify financial problems that can create barriers to your financial independence.
- Provides you with written recommendations and alternative solutions. These should be structured to meet your needs without undue emphasis on purchasing specific products.
- Assists you to implement the right strategy to ensure that you reach your goals and objectives.
- Provides a review and revision of your plan to ensure that you achieve your goals.
How do you know if you need to work with a Certified Financial Planner?
People hire financial planners for many reasons. These questions may help you decide if you need professional financial advice.
- Do you have the time to attend to your personal financial affairs?
- Are you confused about conflicting financial advice from several sources?
- Do you feel you are paying too much tax?
- Are you confused about where to invest your money?
- Do you feel that you can’t make ends meet?
- Do you feel that you can’t save any money?
- Has there been a recent change in your life that could affect your financial future, such as retirement, job loss, an inheritance, an addition to your family, or loss of your spouse?
For more information on our Financial Planning Strategy contact our office.