The Financial Planning Process is ...a process.
It is not a product, not a package solution, but a process. A process which can lead to the accomplishment of financial and life goals.
At its core is the idea that you should begin by determining what is important to you. You will be in a position to make the best use of your assets only after you have come to understand what your priorities are. [more]
Among the potential benefits of utilizing the financial planning process is the avoidance of asset waste due to misappropriation, and increased likelihood that higher priority goals will not be compromised in favor of lower priority ones. The Certified Financial Planner Board of Standards has published a web page entitled What You Should Know About Financial Planning, which describes what you should expect from your plan. It also identifies the various types of financial advisers who may work with you, and common mistakes consumers make in their financial planning.
The Financial Planning Process is a potentially advantageous approach to making financial decisions, responding to needs, and identifying opportunities. It can be a method for getting better answers to some of life's questions. [more]
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