Financial Planning Services

Financial strategists or planners help individuals create a wealth-generating financial plan. Many people, from different walks in life, use financial strategists and planners. This includes people heading for retirement as well as people interested to know how to best invest their money and maximize their wealth. This article looks at a 5-step financial strategy and explains each step. Learn more about Financial Planning with Jason Hare Kingston today!

The five-step approach includes a consultation phase, preparation for a presentation on strategy, the implementation of that strategy and ongoing review and support.

First Consultation

First you must meet in person with your Financial Planner to talk about your current situation, your goals, and your objectives. In the consultation, you can ask all the questions that come to mind about the service. The financial advisor will have the ability to provide clear advice on costs and fees. They can also give you detailed information regarding what types of services they are able offer. No obligation will exist to use the service following the consultation. In the event that you choose to go ahead, you may ask your planner to put together a personal financial plan.

Strategic Plan and its Preparation

This step will involve gathering more specific information on your current financial state in order to tailor a financial strategy to suit your individual needs. The next step is to gather more detailed information about your financial situation. This includes determining your current assets and debts, your income and spending, and your tax structure. After this information has been gathered, it is processed in order to improve your current financial state and determine appropriate wealth creation strategies that are best suited to your particular circumstances. They will also assist in minimizing taxation, consolidating debt and maximising government entitlements. Privacy and confidentiality will always be respected during this entire process.

Strategy Presentation

In a subsequent meeting, the planner will tailor a comprehensive financial plan to suit your individual financial needs. You can ask them to clarify details and make small changes to the plan. The plan can be put into effect if the client is satisfied. All the documents will be there, as well as assistance with the underwriting process.

Review of Service Continued

Subscribe to the full client package which offers ongoing support and reviews of your financial plan. The financial planner can examine all the aspects of your plan, to determine if it is meeting your needs and expectations. It will help you identify areas where your financial plan can be updated or modified, and they’ll make sure that any changes to lifestyle are incorporated into the plan. Also, they will advise you about the changes to the economy in order for your plan to be updated.