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Financial Planning – – Helping You See the Big Picture

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached.

That’s where financial planning comes in. Financial planning is a process that can help you reach your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources.

Why is financial planning important?

A comprehensive financial plan serves as a framework for organizing the pieces of your financial picture. With the financial plan in place, you’ll be better able to focus on your goals and understand what it takes to reach them.

One of the main benefits of having a financial plan is that it can help you balance competing financial priorities. A financial plan will clearly show you how your financial goals are related – – for example, how saving for your children’s college education may impact your ability to save for retirement. Then you can use the information you’ve gleaned to decide how to prioritize your goals, implement specific strategies, and choose suitable products or services. Best of all, you’ll have the peace of mind that comes from knowing that your financial life is on track.

What Is a CERTIFIED FINANICAL PLANNER™ Professional?

A CERTIFIED FINANICAL PLANNER™ Professional or CFP® Practitioner is a financial professional who meets the requirements established by the Certified Financial Planner Board of Standards, Inc. While others may call themselves financial planners, only those who demonstrate the real requisite experience, education, and ethical standards are awarded the CFP® Mark.

What does a CFP® Professional do?

A CFP® professional is trained to develop and implement comprehensive financial plans for individuals, businesses and organizations. He or she has the knowledge and skills to actively assess your current financial status, identify potential problem areas, and recommend appropriate options. You’re also working with someone who’s demonstrated expertise in multiple areas of financial planning, including income and estate tax, investment planning, risk management, and retirement planning.

How to choose a CFP® Professional

Selecting a CFP® professional is like choosing a doctor for your financial health. Working with the CFP® professional involves sharing very personal information and you will want to feel comfortable with the professional you’ve chosen. He or she should be knowledgeable, have integrity, and demonstrate a commitment to the highest ethical standards in the industry. Also, a CFP® professional may offer services to a particular clientele, such as small business owners, corporate executives, or retirees, so be sure the planner you select works with people whose interests and goals are similar to yours.