Finding a reputableFinancial Planner who understands your needs and can make the right recommendations is important. The following are the top 6 actions of a good Financial Planner:
Defining their level of service
The first thing your Financial Planner should do, is explain the process they will use to help you achieve your financial goals. They should also have a clear picture of what your needs are and be sure that they are able to meet them. It’s a good idea to ask them anything you feel relevant, such as their background and how and what they charge.
Determining your goals
Your Financial Planner will work with you to help you determine your short- term and long-term goals regarding your finances. This is an imperative step when it comes to creating your plan.
Assessing your current finances
You current financial situation will be looked over carefully. You will need to include your liabilities, assets, tax or investment strategies and insurance coverage.
Having a financial plan prepared
Your Financial Planner will develop a suitable plan based on recommended strategies, services and products. This is a time where you can ask any questions you feel necessary.
Applying the recommendations
If you’re happy with the plan in place, your Financial Planner will now implement it. If needed, other professionals may be brought in to help with your plan, such as an accountant or solicitor.
Revising the plan
Over time, most people’s financial goals change. That is why it’s important for your Financial Planner to review your plan on a regular basis, to keep it heading in the right direction.