What is Personal Financial Planning?
“Personal financial planning” is an independent analysis and assessment of a client’s current financial situation, as well as a “roadmap” for the achievement of financial and life goals. It is an evolving, ongoing process, not a one-time “event,” and generally consists of the following steps: –Establishing the client-advisor relationship –Gathering client data and determining goals and expectations –Analyzing the client’s current financial position –Developing and presenting recommendations –Implementing the recommendations –Monitoring client progress How Do You Create This Roadmap? Together, the client and advisor review goals, objectives, priorities and values. These typically encompass both financial and non-financial matters. Even if a client is well-positioned financially, he or she may need professional insight and an unbiased “second-opinion” to stay on track. All of our engagements begin with data gathering and a review of the client’s current financial situation. Dependi
