Benefits of Financial Planning

The Importance of Having a Financial Plan

Creating a financial plan helps you see the big picture and set long and short-term life goals, a crucial step in mapping out your financial future. When you have a financial plan, it's easier to make financial decisions and stay on track to meet your goals. Working with a CFP® professional can secure your financial well being and give you peace of mind and help you reach your goals that you set out in the financial planning success.

What does a Financial Plan look like ? 

When your financial plan is completed, it will live with you and be embedded within your Personal Financial Website.  From this secure and encrypted platform you will be able to generate and print numerous reports.  Below is a sample of what all of these reports look like in a very large comprehensive report. 

Click Here to View a Sample of Financial Plan

Click Here to View a Sample of Financial Plan

In today's uncertain economy, financial planning has become increasingly important. With an overwhelming number of options for saving and investing, managing your finances can be difficult.

What is a Certified Financial Planner™ ?

A CFP® practitioner is to your finances what a Family Practitioner Doctor is to your medical care.  A CFP® practitioner is trained and tested for proficiency in Estate Law, Retirement Planning, Risk Management (Insurance), Income Tax Planning, and Investments (stocks, bonds, mutual funds, Real Estate, Annuities, and various other investment options). 

In the equally vast discipline of medicine, a Family Practitioner Physician (MD) has a full medical license to practice medicine and prescribe drugs.  He/she has the same medical license as a Cardiologist or a Neuro-Surgeon, just as most CFP® Practitioners have the same licenses as an Insurance Agent and/or many Investment Advisors.  But will your family practitioner perform open heart surgery if you need it ?  Probably not.  But he/she can and often will prescribe medications if you have high blood pressure or many other types of cardiac conditions.

A CFP® Practitioner is much like the Family Practice Physician in this analogy in that he/she is trained and certified in all five major personal financial components. 

Retirement Planning

Risk Management (Insurance)

Tax Planning

Estate Planning

Investment Planning

With many of these financially related disciplines, the CFP® Practitioner alone can resolve problems or deficiencies that clients may be experiencing (just like your Family Practice Doctor may prescribe blood pressure or other medications).  But the bottom line is that they are trained to identify financial problems (just like a Family Practice Physician does with medical care) and then may often refer clients to a specialist (just like a Family Practitioner Medical Doctor would) but in the case of a CFP® Practitioner, it would likely be an Estate Attorney, Enrolled Agent, or CPA instead of a cardiologist. 

The Benefits of Having a Certified Financial Planner™

Some people decide to do their own financial planning, but you may want to seek help from a Certified Financial Planner™ professional if you:

  • Want to better manage your finances, but aren't sure where to start
  • Don't have time to do your own financial planning
  • Want a professional opinion about the plan you've developed
  • Don't have sufficient expertise in certain areas such as investments, insurance, taxes or retirement planning
  • Have an immediate need or unexpected life event

You can get a quick and easy garden-variety financial plan from many different financial webs site and even some discount stock brokerages.  They are like off-the-rack suits.  They might fit, but almost all of them need to be fitted to you.   Most planners provide you with a plan on paper.  Then most clients file it away and never really look back at it.  They treat it as a checked box on a to-do list. 

Wouldn’t you rather have a plan that is professionally tailored to you ?  A plan that comes with a personal financial website that passively tracks your progress and compares your actual current financial position with the planned status in the professionally tailored financial plan in real time ? 


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