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What is Financial Planning?

Financial planning can be a life-long process that assists you and your family in taking control of your financial future. By setting financial goals, developing and implementing financial strategies, and monitoring progress on a regular basis, the likelihood of working towards your goals is greatly increased.

There are usually five steps in the preparation of a professional financial plan:

Our Financial Planning process

  1. Establish your goals and objectives – An Opening interview to assess your current financial situation and to identify your priorities and concerns.
  2. Develop a strategy to meet your needs – gathering information to develop a profile of your current situation, including a review of your financial information and relevant documents. We will analyze this data to be certain we understand your unique situation and how to address it.
  3. Make recommendations – presenting the planning analysis during a strategy session allowing you to understand where you are in relation to where you want to be in the future.
  4. Implement recommendations – using the plan as a blueprint, develop an implementation schedule and identify specific products and services to help you reach your goals.
  5. Review your goals and current situation – The last step in the process is the periodic review of your financial situation. At a minimum, we recommend you assess the need for any changes annually. Even the best financial plan must be monitored on a regular basis to make sure you are continuing in the right direction. 
 

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG, LLC, to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Copyright 2017 FMG Suite

The Financial Consultants of Perennial Financial Services are Registered Representatives with and securities offered through LPL Financial. Member FINRA/SIPC. Investment Advice offered through Perennial Investment Advisors, a registered investment advisor. Perennial Investment Advisors and Perennial Financial Services are separate entities from LPL Financial.

The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: Alabama (AL), Alaska (AK), Arizona (AZ), California (CA), Colorado (CO), Connecticut (CT), Washington DC (DC), Florida (FL), Georgia (GA), Idaho (ID), Iowa (IA), Maryland (MD), Michigan (MI), Mississippi (MS), Nevada (NV), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), Oregon (OR), Ohio (OH), Oklahoma (OK), Pennsylvania (PA), South Carolina (SC), South Dakota (SD), Texas (TX), Utah (UT), Virginia (VA), Washington (WA), and Wisconsin (WI).