The Financial Planning Process infographic highlights the six steps involved creating a comprehensive, personal financial plan. Establishing the scope of how you and your client will work together is a key first step in the financial planning process.
This Financial Planning Process infographic is a guide to establishing how the planning process will unfold. Having clear expectations will serve to help build lasting relationships with clients. Details about responsibilities, time frames, and compensation should be clear from the onset, and this infographic helps to start the conversation about expectations.
Clients can work with their financial advisor to complete a comprehensive financial plan using the following six steps:
- Clarify your present situation
- Identify goals and objectives
- Identify financial challenges
- Review recommendations
- Implement strategies
- Monitor and review the plan
This starting place for the important relationship advisors build with their clients works well with the Value of Advice infographic.