How Does the Financial Planning Process Work?
Posted on Thursday, August 16th, 2018
Financial Planning Process. How does it work?
You’ve decided to hire a financial planner – congratulations! You’ve taken the first step on the path of creating a money strategy for your life, including short term and long term goals. But now that you’ve decided on a financial planner, how exactly does the process work? The process has several steps, many of which are outlined below so you know what to expect with the financial planning process.
Financial Planning Process
- The first step is having an initial meeting with your financial planner. During this meeting, you will talk with your planner about your goals and start determining how to proceed forward.
- Next, you and your planner are going to create a list of financial goals. Your planner with ask you questions specifically to obtain information that will help them realise your financial priorities.
- Now it’s time for your planner to present you with your actual financial plan. This document will be in writing and will propose or suggest solutions on how to reach your goals.
- After you’ve reviewed the plan, it’s now time to decide if it meets your needs. Don’t be afraid to speak up if there are things in the financial plan that you want to change or want more information on. Your planner is there to help you.
- Once your plan is in place, you will need to review it every so often to ensure it is still meeting your needs. As you age, your financial goals will probably change too. For example, if you’re young and starting a family, your goal may be to buy a house and have enough money in savings for emergencies, while a few years later, your goal may be more retirement focused.
Again, a financial planner is there to guide you and help you reach your financial goals. A certified planner is a great way to invest in your future and start achieving the financial success you desire.
Contact Ricarmo today to start the process.