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Why Financial Planning?

Financial Planning*

What is a personal financial plan?

A personal financial plan is a comprehensive way to manage all areas of financial life. You might think of your personal financial plan as a road map that shows you how to save, spend and invest to help work toward your financial goals. Your financial plan helps you address the financial needs for the present day, while you plan for tomorrow's future dreams.

Should your financial plan be personalized based on your life?

Your financial plan should have a unique approach designed just for you. Your advisor should take the time to get to know you and consistantly being advising you about your current needs and goals for the future.

The plan should create and take into consideration your income, expenses, investments and debt and should show you how to manage your money to help pursue your short-term needs and long-term goals, all while preserving what you have and for those you care for.

Your Financial Plan should identify strategies and tactics to help you:

  • Examine your present financial situation
  • Preserve what is important to you
  • Accumulate Assets
  • Manage your Taxes
  • Plan for Retirement
  • Leave a Legacy

How does financial planning make a difference in your lifestyle?

Financial planning is based on a long-term, one-on-one relationship with an advisor and involves a comprehensive, ongoing approach to managing all areas of your financial life. For individuals who have a financial plan, it gives them a road map to help them structure what is most important for them to reach their financial goals and provide the confidence to feel ready for their financial future.

Working with a knowledgeable financial advisor- someone who takes a genuine interest in your financial success, can help keep you on track with your objectives.

  • Review your plan regulary and track your progress toward your goals.
  • Apply new solutions, strategies and tactics as your needs change.

Financial Planning is more than a one-time event or discussion. In the first year of your financial planning relationship, your advisor will get to know you and help you identify your needs and goals to develop your personal finanical plan. Your plan will:

  • Identify and Prioritize objectives
  • Gather personal financial information
  • Analyze information
  • Propose recommendations
  • Take action and Track your progress.

After developing your financial plan, the advsior will address any life changes and help you adjust your plan based on your current needs and goals by providing:

  • Annual Reviews
  • Checkpoints
  • 6-Month Review
  • Year-end Review

Financial planning is an ongoing process that should develop a long-term relationship with the financial advisor.