As defined by the Financial Planning Association, Financial planning is the long-term process of wisely managing your finances so you can achieve your goals and dreams, while at the same time negotiating the financial barriers that inevitably arise in every stage of life.
Bringing all the pieces of your financial life together is a challenging task. You may not have the expertise, the time or the desire to actively plan and manage certain financial aspects of your life. You may want help getting started. You may benefit from an objective, third-party perspective on what are often emotional, difficult decisions. And in today’s hectic world, it can be beneficial to have a financial planning expert help to make sure you stay focused and follow through with your financial plans.
Remember, financial planning is a process, not a product.
Please go to letsmakeaplan.org or fpanet.org for more information on financial planning.
The way individuals handle and invest their money will often determine whether or not a goal is achieved. There are numerous types of investments available and the choices for investors can be daunting. It is important for the planner to understand the various investment choices that are available, and to understand the advantages and disadvantages of each for a given situation. It is also essential for the financial planner to understand risk, how it is measured, and its relevance when evaluating returns and preparing client portfolios. This is where experience comes in.
We are truly independent and the standard we hold ourselves to requires us to act in your best interest. The products that are ultimately chosen will be based on your needs with our understanding of the big picture. We will take the time to get to know you so we get it right from the beginning. After your portfolio is built, we will set you up for semi annual reviews to continue the education process, monitor the progress, and make adjustments. We want you to be successful!
Lastly, I want everyone to know that they do not have to engage us for financial planning. They may not need it or maybe they do not want it. Many of our clients come to us for investment management only. I enjoy managing money. That is why I got in the business. I understand that investment management is all many people need.
Insurance is a necessary part of life because it is an essential tool for managing risk. It is designed to protect against the uncontrolled contingencies of health, death, natural disasters, and any loss of assets. Risk management is one of the more difficult components of the financial planning activity because it addresses the unknown, the intangible, and the unexpected. We will advise you of the ramifications of loss due to poor risk management. In most cases, clients are more successful at risk management when it deals with property and casualty than with that of their most valuable asset-themselves. For some reason, visualizing a damaged fender or fire in a house is easier than accepting the possibility of illness, disability, or death.
You are more important than your “stuff”, and we will make sure you and your family is protected. We will look at your existing policies to see if you are adequately protected. Many times we find that policies are not needed, do not offer enough coverage, are too expensive, or projected to lapse before their time. We specialize in life, long-term care, and disability, because we want to protect you.
We handle a wide range of retirement plans in the area. We have clients with SIMPLE IRAs, 401(k) plans, 403(b) plans, SEP IRAs, Individual 401(k) plans, and profit sharing plans. We will deliver a great deal of value to your plan. We are going to look at expenses and performance to deliver that value.
We work with several reasonably priced administrators and custodians. They have done a good job for our clients and by using them; you will have more money to use in other parts of your business. Administration costs can get out of control, and we do not want you to pay more than you have to.
Whenever possible, the investment options will be chosen from companies that have a niche or a specialization in a certain area. We want to use companies that have a focus on one or two areas. This is what I look for to put you in the best position to succeed. It’s not a guarantee. No one can guarantee great performance, but it makes a lot of since.
Use our experience to find the plan that is right for your company. Some plans give you flexibility, some are easy to administer, and some offer higher contribution rates. We will boil it down for you, and as I said before, deliver great value.
If you already have a plan, let us take a look to see if we can improve it.