That’s a question I like to ask my clients when they come to meet me for the first time. It helps me to find out where the client is coming from, and what they understand about financial planning.
So what is it?
To me, it’s the art of combining my knowledge of financial planning with a client’s desire to improve their personal finances. Together we determine what the client has and what the client wants. My best clients are the most willing to learn. I can teach them about investing and planning, and all the opportunities that make sense for them.
What we make together is a blueprint for their financial life moving forward. That is the heart of financial planning.
Everyone’s financial plan is different, as so many factors go into making one. Amid an ocean of information it’s so easy to get overwhelmed. The good planner helps you understand the landscape. The good planner explains how each choice you make can affect your whole financial picture.
Consider that the average long-term investor does far better when he or she uses a qualified advisor and puts a sound plan in place. A good financial planner will help you stay disciplined and committed to the blueprint you put together.
So what is financial planning?
Financial planning is about being proactive. Asking questions. Keeping an open mind. And avoiding emotional decision making. And it’s all in service of the blueprint that gives you the best chance to get you what you want.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.
Stu Steinberg is a Financial Advisor with, and Securities and Financial Planning is offered through, LPL Financial, A Registered Investment Advisor, Member FINRA/SIPC. You can reach him at Eaglerock Financial, Inc 55 Pleasant Street #206 Newburyport, MA 01950. (978) 864-9581 Stu@eaglerockfinancial.net
27 March 2012