Financial Planning is preformed by a practicing professional who helps people deal with various personal financial issues through proper planning, which includes but is not limited to these major areas: cash flow management, education planning, retirement planning, investment planning, risk management and insurance planning, tax planning, estate planning and business succession planning (for business owners).
In carrying out the planning function, the goal of the financial planning process to create a financial plan; a detailed strategy tailored to a client's specific situation, for meeting a client's specific goals. The key defining aspect of what the financial planner does is that he considers all questions, information and advice as it impacts and is impacted by the entire financial and life situation of the client.
People enlist the help of a financial planner because of the complexity of performing the following:
The best results of working with a comprehensive financial planner, from an individual client or family's perspective are: