Finding The Right Personalized Financial Planning Service

personalized financial planning

Truly personalized financial planning isn’t just what most customers want. It’s a comprehensive service offered by a highly skilled advisory team that understands complete financial management and the specific customer. Personalized personal financial planning results in the effective combination of a consulting team that truly understands the client’s goals and habits. Here are seven ways personalized financial planning differs from others.

How Personalized Financial Planning differs from others?

A screen shot of an open laptop computer sitting on top of a table

For starters, it is based on your life goals. When you consult a good advisor, he will ask questions about your financial goals and habits. He will then map out a personalized plan that focuses on meeting those goals. The focus isn’t simply to make money; it is to live in a more financially secure way while giving your family the lifestyle they deserve.

A good advisor also doesn’t use impersonal investment managers as a way to meet your goals. He looks at each person’s needs and wants, and matches them with resources that maximize profit while minimizing risk. An impersonal investment manager may help you achieve some savings. A personalized financial planning advisor will help you create a plan that gets you the maximum return for your money. A good advisor will help you make money even if the market goes down.

Another significant difference between personalized and comprehensive financial advisors is that the latter aren’t motivated by a commission. They provide value to their customers. This means they truly care about making a difference in your life. Good advisors will have your best interests in mind at all times. They will be proactive in finding opportunities that can provide long-term and sustainable wealth.

Finally, personalized financial planning involves much more direct communication with your advisor. You’ll be able to discuss everything from your financial goals to your family’s needs. You’ll be able to ask questions and get immediate responses from your financial planner. This direct interaction increases your trust in the advisor and ensures that he or she is truly motivated to find a solution for your needs.

Certified Financial Planning Board Certification

A person reading a book

If you want something different, there are also ways to get a custom, personalized approach to your financial plan. The Certified Financial Planning Board offers a variety of different certifications. One, called CFP, is for professionally developed financial plans. These plans are prepared using a standardized set of guidelines. The CFP certification is recommended for people who are working with a standardized set of plans, such as retirement plans.

Another option is to get your CFP through one of the many boards certified by the CFPA or the CFSA. The Certified Financial Planner (CFP) designation is not required by state law, but it is well recognized. As a result, most financial planners choose to become CFPs to offer personalized financial planning services to their clients. When you work with a certified financial planner, you can also take advantage of some of the other benefits offered by these organizations.

For example, if you need help developing a set of financial goals for your retirement, you might choose to go with a board-certified planner who works with a set of predefined retirement goals. These can include purchasing an engagement ring, having a first home, or saving for a college education. You’ll be able to specify how much money you want to set aside each month and what type of lifestyle you want to live, including whether you want to travel and if so, when you want to do those activities. Getting these goals in a life goals chart helps you to focus on them while ensuring that your funding goals are on track. Your personalized financial planning plan results in a complete blueprint for reaching your life goals.

Subscribe to our monthly Newsletter
Subscribe to our monthly Newsletter