article thumbnail

The Importance of Financial Planning

Financial Symmetry

Do you have a mapped-out plan for your future? Financial Planning could be the answer. The post The Importance of Financial Planning appeared first on Financial Symmetry, Inc. Do you know the best steps to take to achieve your goals?

article thumbnail

Tax and Financial Planning Ideas For 2023

Park Place Financial

FINANCIAL PLANNING Tax and Financial Planning Ideas For 2023 Schedule a Complimentary Financial Review CLICK HERE TO SCHEDULE. Additionally, the government has made changes to tax rules, further prompting Americans to reevaluate their tax and financial strategies.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Increasing Financial Planning Efficiency With A Systematized Annual Process

Nerd's Eye View

A common service model for many financial advisory firms is to schedule annual client meetings throughout the year where the advisor meets with each client in the month they started working with the firm, and conducts a comprehensive review of all planning topics for the client.

article thumbnail

How “Probability Of Success” Differs Between One-Time And Ongoing Financial Plans

Nerd's Eye View

Monte Carlo simulations have become the dominant method for conducting financial planning analyses for clients and are a feature of most comprehensive financial planning software programs. Retirement Planning OPTIN: SWR (BAR) OPTIN: SWR (SLIDE IN

article thumbnail

Describing the depth and foundation of financial planning

Million Dollar Round Table (MDRT)

In fact, I often position myself as a financial architect because I help young families design and build their financial foundations. To lay the foundation, I frequently use the following scenario with my clients: Building a strong financial house.

article thumbnail

Roadmap For Financial Planning

Yardley Wealth Management

The post Roadmap For Financial Planning appeared first on Yardley Wealth Management, LLC. Roadmap for financial planning. When I say that being a financial advisor is a lot like being a therapist, you probably think I’m joking.

article thumbnail

What Are The 10 Common Financial Planning Mistakes?

Fintoo

This could be because we tend to focus on the factors that help us generate more wealth and overlook the 10 most common financial planning mistakes. […]. The post What Are The 10 Common Financial Planning Mistakes?

article thumbnail

Financial Planning is About Trade-offs

Yardley Wealth Management

The post Financial Planning is About Trade-offs appeared first on Yardley Wealth Management, LLC. Financial Planning is About Trade-offs. Financial planning is all about balance.

article thumbnail

Why Checklist-Style Financial Planning Works: What Advisors Can Learn From Dave Ramsey’s Baby Steps

Nerd's Eye View

There are many financial advisors who take issue with the financial advice offered by popular personal finance personalities such as Dave Ramsey. Financial Psychology OPTIN: Value Of Advice (BAR) OPTIN: Value Of Advice (SLIDE IN

article thumbnail

Why To Use George Kinder’s 3 Life Planning Questions With Financial Planning Clients

Nerd's Eye View

Financial planning is both an art and a science. As part of his Life Planning approach, George Kinder developed three questions that probe deeper into a client’s hopes, dreams, and fears, to help advisors develop more complete and impactful financial plans.

article thumbnail

How To Use George Kinder’s 3 Life Planning Questions With Financial Planning Clients

Nerd's Eye View

Financial planning is both an art and a science. As part of his Life Planning approach, George Kinder developed three questions that probe deeper into a client’s hopes, dreams, and fears, to help advisors develop more complete and impactful financial plans.

article thumbnail

Financial Planning for Entrepreneurs

WiserAdvisor

That said, entrepreneurship can sometimes be cumbersome in spirit, especially in terms of financial planning. Moreover, the Covid-19 pandemic also completely disrupted business across the globe, negating all rules of wealth and financial planning. Create a financial plan.

article thumbnail

Mistake 7: Failing to Sell the Value of Financial Planning

Prosperity Coaching

Financial planning and investment management are not products that can be bought at the supermarket. Yet financial advisors often fail to sell the value of financial planning and the benefits of working with them, […].

article thumbnail

Moving past client resistance to long-term financial planning

Million Dollar Round Table (MDRT)

By Kennedy Sumarlie, CFP Most of the time, retirement plans and children’s education fund-related products require long-term discipline and consistent financial commitment. When I encounter a client who may be hesitant about long-term planning, I often use simple explanations.

article thumbnail

Is Financial Planning Different for Dual-Income Families?

WiserAdvisor

The more, the merrier is the general consensus in most financial matters. In addition to this, you can save more and plan for more significant purchases with greater ease. Is financial planning for dual-income families different from others? Financial Planning

article thumbnail

Conflict Resolution in Financial Planning

eMoney Advisor

As a financial professional helping couples plan for the future, you have likely experienced the discomfort that can occur when conflict arises. When the resolved conflict is about money it can enhance their likelihood of achieving desired financial goals.

article thumbnail

Cultural Humility in Financial Planning

eMoney Advisor

Amidst the increase in social unrest here and abroad, there’s a tenet of financial psychology that has become especially relevant for the creation of safe spaces, and that is cultural humility. Tips for Incorporating Greater Cultural Humility into Financial Planning.

article thumbnail

Sabbatical Financial Planning: Taking Extended Time Off Without Derailing The Career Or Retirement

Nerd's Eye View

A sabbatical refers to a period of time in which someone takes an extended, planned break from work prior to retirement, often as an opportunity to focus on their wellbeing and/or to gain valuable perspectives of life outside of work.

article thumbnail

How Climate Change Is Impacting Financial Planning

Wealth Management

Advisors find global warming is affecting clients’ home insurance and property costs

article thumbnail

Financial Planning That Helps Clients Weather Disasters

eMoney Advisor

Billion-dollar disasters, inflation, and increased building costs mean a perfect storm is brewing for financial planners’ risk management strategies. Insurance in Financial Planning. Financial and Physical Well-Being.

article thumbnail

Financial Planning for the Retirement Transition

eMoney Advisor

Navigating the Retirement Transition with “Switches” Because the transition to retirement is dynamic and requires financial, lifestyle, and social choices, clients need a full understanding of their “switches” or options. Preparation is key in any life plan.

article thumbnail

Financial Planning Research Roundup: October 2022

eMoney Advisor

Next-gen advisors have more focus on investment management and financial planning than established advisors, who place more emphasis on retirement income planning. Also, a recent look at consumer finance shows that many Americans are off-track financially.

article thumbnail

Part 3: Tax-Wise Financial Planning

Yardley Wealth Management

The post Part 3: Tax-Wise Financial Planning appeared first on Yardley Wealth Management, LLC. Part 3: Tax-Wise Financial Planning. In our last two pieces, we covered some tools of the tax-planning trade, as well as how to deploy them for tax-efficient investing. .

Taxes 52
article thumbnail

Does Your Financial Plan Account for Higher Taxes?

WiserAdvisor

Most people start financial planning with the goal of growing their finances through savings and investments. But financial planning is not limited to increasing your wealth alone. Tax planning is essential. What impact do taxes have on your financial planning?

article thumbnail

10 Easy Financial Planning Steps for Beginners

James Hendries

If you’ve never engaged in financial planning and are unsure how to get started, this article is for you. A financial plan starts by evaluating your current financial situation and future expectations and can be created independently or with the help of a financial professional.

article thumbnail

Financial planning transparency is FINALLY upon us (whoo hooo!!!!!!!!!!!!)

Sara Grillo

As the move to transparency in financial planning takes hold, regulations are changing in Colorado and other states. Here’s the triumph of virtue that financial planning transparency will (FINALLY) bring to planners across the country and the benefits to clients that come along with it.

article thumbnail

Financial Planning Needs a Makeover!

Advisor Perspectives

Financial planning can be opaque, vague, and perceived as non-valuable by the consumer. I’m about to give financial planning a transparency makeover

article thumbnail

5 Steps for Creating a Financial Plan

Yardley Wealth Management

The post 5 Steps for Creating a Financial Plan appeared first on Yardley Wealth Management, LLC. 5 Steps for Creating a Financial Plan. That doesn’t mean you need a 50-page financial plan.

article thumbnail

Helping veterans and military with financial planning

Nationwide Financial

When engaging in financial planning with your veteran and military clients, there are many unique obstacles and situations to consider. Not only will the lifestyle of military members differ from civilian clients, but there many financial benefits available to veterans from the U.S.

article thumbnail

#FA Success 303: Pivoting From ‘Robo’ Investment Management To Financial Planning In South Africa, With Louis van der Merwe

Nerd's Eye View

Welcome back to the 303rd episode of the Financial Advisor Success Podcast ! Financial Advisor Success Podcast OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN My guest on today's podcast is Louis van der Merwe.

article thumbnail

Ten Steps To Creating A Solid Financial Plan For Yourself

Clever Girl Finance

No one cares about your financial well-being more than you, so it's important to have a financial plan for yourself. In my opinion, financial planning is critical, especially for women, due to the gender wage gap. What is a financial plan?

article thumbnail

Financial Planning for High-Net-Worth Individuals

WiserAdvisor

Financial planning can be helpful in many ways. Financial planning adds discipline to your routine. Financial planning is also helpful in tracking errors and rectifying them quickly to avoid further damage. Financial Planning

article thumbnail

The New CFP Book on the Psychology of Financial Planning

Advisor Perspectives

The CFP Board published a book called the Psychology of Financial Planning. This groundbreaking new material incorporates interpersonal components of financial planning and the effects of money on individuals.

CFP 87
article thumbnail

The 10 Things I Got Right in Financial Planning

Advisor Perspectives

I wrote an article last month regarding the 10 things I got wrong about financial planning over my 20-year career. As it happens, I also got some things right and was happy when I was asked to write about them

article thumbnail

Values-Based Financial Planning with Natalie Taylor

Steve Sanduski

What is the cornerstone of your financial planning process? If you’d like to learn more about the Return on Life philosophy and explore becoming a Life-Centered Financial Planner, click here. . What technology can and cannot do relative to human financial advisors.

article thumbnail

Why Should You Care About Financial Planning?

Workable Wealth

Financial planning can take your money game up a notch by bringing clarity, strategy, and intention to your financial life. A healthy financial plan gives you the tools to take control of your finances and start living your life with passion, purpose, and freedom.

article thumbnail

Goal-based Financial Planning for All Life Stages

eMoney Advisor

Goal-based financial planning entails setting and achieving individual financial goals based on a client’s aspirations, assets, and savings. It’s also a good choice for clients who are new to financial planning. Easing Financial Stress.

article thumbnail

Financial Planning Research Roundup: August 2022

eMoney Advisor

The latest research from around the industry shows that firms are searching for the right service model to carry their business into the future, especially in regard to offering holistic financial planning at scale. The State of Holistic Financial Planning Today – eMoney Advisor.

article thumbnail

Why Clients Need a Financial Plan for College

Nationwide Financial

Whether your client has young children of their own, teenage grandkids heading to college, or wants to help finance college for someone else in the family, it’s wise to encourage your clients to create a financial plan for doing so. Savings Plans: 529, Coverdell, UGMA.

Clients 60
article thumbnail

How To Create A Strategic Financial Planning Process For Yourself

Clever Girl Finance

Having a solid personal financial planning process is the first step in achieving your financial goals. Instead, you can leverage the same steps that financial advisors and Certified Financial Planners (CFPs) use to create financial plans for their clients.