Creating A Financial Plan Really Is Simple

Published by Colin Casey CFP®

Creating a financial plan doesn’t have to be another one of those daunting tasks that is procrastinated. Here is what to expect from a financial advisor that makes the complex simple:

First, you should interview two or three respectable advisors in your area. There are several good options to find an advisor if you don’t have any personal relationships you can request meetings with. You can search to find a CERTIFIED FINANCIAL PLANNER™in your area. These professionals are board certified financial advisors that have gone the extra mile committing to a higher ethical standard to help you plan with your best interest at heart.

Another option is asking your trusted tax professional or attorney for several recommendations. Tax professionals and attorney’s work closely with financial advisors every day to keep mutual client matters organized. Lastly, ask any of your close relatives or friends that you respect if they could provide you with any recommendations. More than likely your relative or friend will be flattered that you respect their opinion. In addition, sometimes financial advisors will offer discounted services because you could become an extension of that family member or friend’s household.

Second, a financial advisor’s job is to problem solve solutions to assist you in the pursuit of your dreams. Don’t let the uncertainty of how you will tackle a giant goal intimidate you. Your advisor is going to figure it out! All you need to do is come to the table with your several main financial goals to focus on. A good advisor will ask you many questions to get you to talk more about these. In summary, have a couple goals and be ready with an open mind to answer questions!

Lastly, you will to need to provide financial documentation so your chosen advisor can create your plan. They will provide you with a complete checklist of documentation to pull. This is a little bit of work on your part, but it’s simply a checklist to follow and you won’t be left wondering what you need to do.

With your answers from the questions and financial documentation, your advisor will be able to paint the picture of your future for you. There will be an interactive presentation including visual content and forecasts that are easy to understand. Your advisor will be ready with recommendations and next steps to implement the advice. They will prep paperwork and follow through coordinating with your other professionals until all stones have been turned over. Moving forward will review things at least annually. During this time you and your advisor will be able to discuss life changes and tweak your financial plan as needed.

Our Stonebridge Financial Partners Wealth Advisors are here if you don’t have and or if you are ready to interview someone to develop a financial plan. Contact us to get started today or to provide a secondary analysis of an existing one.

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