Financial Road Map


Financial planning is “the process of determining whether and how an individual can meet life goals through the proper management of financial resources. There are six steps to the financial planning process:

 

  • Establishing and defining the client-planner relationship
  • Gathering client data including goals
  • Analyzing and evaluating the client’s current financial status
  • Developing and presenting recommendations and/or alternatives
  • Implementing the recommendations
  • Monitoring the recommendations

 

“Financial planning process will typically include, but are not limited to:

  • Financial statement preparation and analysis (including cash flow analysis/planning and budgeting)
  • Insurance planning and risk management
  • Employee benefits planning
  • Investment planning
  • Income tax planning
  • Retirement planning
  • Estate planning