Comprehensive Financial Planning: What is it? Does it Matter?
“Direction determines destination.” -Andy Stanley
Financial planning, advice and accountability – the core of all that we do for you. If you decide to hire one of our financial advisors, the first thing we do for you is create a plan.
We start by understanding your goals and what is most important to you about money—the “what” and the “why.” Then we create a personalized plan—a collection of strategies for various areas of your financial life that revolve around propelling you toward your goals.
Based on decades of real-life experience and extensive classroom time, we then advise you on how to put your plan into action. Of course, life is quite dynamic so we help you track your progress and make adjustments to the plan as time goes by.
Something that might either comfort you or dissuade you is how we will hold you accountable to making wise choices. Meaning, if you make financial decisions that repeatedly violate the goals of your plan, we may be having a tough, but necessary, conversation.
Too often, we feel that financial advisors are unwilling to have tough conversations with clients in fear of getting fired. It is easy to let that happen, but history shows that it rarely turns out positively for either party, which is why we are 100% resolved to meet challenges head-on with you.
We are for you, and our greatest desire is for you to be successful. We have a great deal of respect for the importance of mutual accountability in the advisor/client relationship, and hope that you do to.
Financial planning is an ongoing process. Laws change. Economies cycle. Financial products evolve. Part of our job is to take all of those things into account as we help you track toward milestones and make adjustments to the plan when needed.
In fact, we aren’t even big fans of printing out your financial plan on paper because it will so quickly be out of date. You should feel confident that your plan will adapt to fit your current reality.
We use checklists and goal tracking to help update your plan (which also helps to keep review meetings on point and productive).
Note: To discover the difference between Financial Planning and Wealth Management, click HERE.
For a graphical representation of the financial planning process, click HERE.
The video below was created in early 2016 for our existing clients. Previously, a comprehensive financial plan was an “add-on” to our service offering, but after testing and compiling feedback for nearly a year, we made the switch to requiring a financial plan for all new clients.
It is short, and we believe will help you understand why we believe a financial plan is so important.
If you would like to talk to one of our advisors about how financial planning, advice and accountability may help you, call us at (770) 297-9000 or head over to the Contact Us page where you can send a message or ask any questions.