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Value of a Financial Planner

What is Financial Planning?

Financial Planning is the process of analyzing your life goals and developing a plan in order to help you pursue these goals through the proper management of your finances. This process is more about the long-term relationship you build with your financial planner than the plan itself because the plan will be constantly changing as life happens.

Why do you need a Financial Planner?

Whether your financial affairs are relatively simple or very complex, a financial professional can help you develop an investment strategy that’s right for you and provide direction on how to plan for life’s major events.

  • Retirement. Even if you have accumulated the financial resources for what could be 15 to 30 years of retirement, you will need a plan designed to help maximize and protect those assets.
  • Investment Plan. A plan should seek to achieve your desired level of return without taking on more risk (or more kinds of risk) than you can tolerate.
  • Protection of Current and Future Assets. Without proper tax, insurance, and estate planning, all of your other planning could be impacted by uncontrollable circumstances.
  • Needs of Your Family. Do you have a plan for paying for the education of your children or grandchildren and/or the care of your loved ones?

How does it work?1

  • Getting to know you. In this discovery process, we will define your short and long term financial goals, we ask you to complete a Financial Inventory to better understand what you have, what you owe, and what things are most important to you.
  • Creating the Plan. We create a detailed analysis with action steps putting you on track to accomplish your goals.
  • Acting on the Plan. The process by which we, together agree and act on the steps necessary to successfully put your plan into action.
  • Revisiting the Plan. Financial Planning is an on-going process. On a periodic basis, we will together monitor the progress of your plan, make adjustments where necessary, and integrate changes accordingly.
  • Investment Management.2 Investment advice and ongoing management are additional services available to you. We use the knowledge gathered about you in the financial planning process to develop a customized investment plan for your portfolio.

An Independent Financial Planner:

  • Works for you, independent of bias towards any product or company.
  • Provides objective advice only after your needs are fully understood.
  • Focuses solely on your needs, goals, and objectives rather than the goals of a company that sells insurance or investments.

1 Financial Planning fees are agreed upon in advance and are either hourly or fixed, depending on your needs.

2 We use LPL Financial as the independent custodian and record keeper for our clients’ investments.