Characteristics of a Good Financial Planning Process

 

At Securus Wealth Management, a team of professionals create financial plans for a diverse clientele. Under the leadership of president Jim Goodland, Securus Wealth Management strives to help all clients understand the planning process as well as the contemporary strategies utilized by the firm.

In brief, financial planning assists individuals, families, and organizations create and pursue their fiscal goals. It typically begins with the gathering of information regarding the client's resources, obligations, needs, and preferences. Using this data, the financial planner works with the client to design both short-term and long-term goals, as well as timelines for the achievement of these goals.

Once the planner has identified the desired end result, he or she can go on to develop strategies for their accomplishment. The skilled and savvy planner will discuss these strategies with the client prior to implementing them, so that the client can ask questions and present any concerns. A conscientious planner will adjust the plan if necessary and then begin to put decisions into action.

The financial planning process should include ongoing discussion with the client, who should have the opportunity to respond to portfolio performance. The financial planning process is long-term and highly individualized, and the planner's relationship with clients should reflect these needs.