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The Financial Planning Process

What is the financial planning? It’s the process of partnering with a trusted financial professional to align your financial resources with your vision, values and time frame with the goal of optimizing your future outcome.

Why engage in financial planning? The expertise and knowledge from a retirement specialist can make a huge difference when it comes your retirement dreams. The common retirement mistakes, seen daily by an experienced guide for this transition, can be avoided because they have can create a road map to give you an idea of what may be around the bend. At the end of the day, “you don’t know what you don’t know.”

Here’s an analogy that may resonate with you: An hour spent with a nutritionist is better than reading a dozen diet books on your own. The ability to ask questions tailored to your situation is worth more than any course, product, or program. 

A specialist, in most fields, can give you empowerment. 

How does our first meeting look?

Our first meeting is an opportunity for me to learn about your goals and for you to share your expectations to determine if there is a good fit to work together. I don’t require a laundry list of data from the beginning but will ask some good questions to help you clarify and prioritize your objectives.

I primarily meet with clients and prospective clients by Zoom. I make exceptions for those with disabilities, want to meet at a great restaurant or on the golf course but the 2020 pandemic has opened my eyes to how I was spending my time previously. I determined I was spending about 300 hours a year in a car. Over the next 25 years of my career, that’s a year of my life! I’d like to take that year back and Zoom has allowed me to do so and accomplish the same outcomes as meeting in person. Of course, I’d prefer to meet in person but with 300 extra hours per years I can help another twenty families with their financial planning and retirement needs and spend a lot more time with my family.

As you begin to consider how to optimize your financial future, I believe you should feel confident knowing that with a CFP® professional, you’re working with someone committed to providing the highest standard of financial planning. We follow the six steps to the financial planning process below:

CFP® professionals are held to strict ethical standards to  help ensure that financial planning recommendations are in your best interest. A CFP® professional must acquire several years of experience in delivering financial planning services to clients and passing the comprehensive CFP® Certification Exam before they can call themselves a CFP® professional. Also known as CFP® certificants, these individuals must meet the following qualifications, as specified by the Certified Financial Planner Board of Standards, Incorporated to use the CFP ® marks. A CFP® certificant must obtain 30 hours of continuing education every two years in the body of knowledge on financial planning areas such as estate planning, retirement planning, investment management, tax planning, and employee benefits.

Source: CFP Board Website

See a sneak peak of our financial planning client site here: Financial Planning Video

Have a question? 

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Waddell & Reed is not affiliated with the CFP board.

Investing involves risk including the potential loss of principal.