Financial Planning
Think of a good comprehensive financial plan as being very similar to a health and wellness plan: you need to focus on and take care of all aspects of your health, not just a few (calling that your comprehensive health and well-being plan.) After all, each of the many aspects of your health and well-being depend upon and affect each other, all working together to help create optimal health and wellness.
And just the same, each of the many aspects of your financial situation depend upon and affect each other, all working together to help create a strong financial outlook. The benefits of a comprehensive financial plan are not just yours; your family shares in the relief, comfort and advantages of your smart decisions as well. Without proper planning, your intentions can often fall short of your expectations.
A comprehensive financial plan involves:
- A thorough review of your current financial situation
- A discussion and understanding of your long term, financial goals
- The development of a plan including an implementation strategy needed to take you from where you are today to where you need to be in the future
A solid financial strategy includes, among other topics specific to your life situation and goals:
- Retirement planning
- College planning
- Tax management
- Estate management
- Risk management
- Debt structure
- Insurance
- Complex life issues
The only way to create an optimal financial plan, and help the client fully, is to understand the personal circumstances and look at everything in order to make qualified recommendations.
It would be difficult for your financial advisor to help you without first learning about, assessing, and then addressing each portion of your financial picture.
You need the whole picture.
The industry is slowly moving in the direction of embracing a more all-inclusive standard. We’re already there.