Life moves quickly and more often than not financial decisions are made without consideration of the long-term impact, and how this choice will affect other facets of one’s financial world. A portfolio takes shape, financial vehicles are secured, and money is put to work, but the question remains- is everything working in tandem? Do the individual pieces form a cohesive strategy? Are the efforts best suited for the stated goals?
Financial planning is a systematic and deliberate process. It serves to direct all components of an individual’s financial scope, ensuring the strategy is working cohesively and aligned with the intended objectives. The overall purpose is to layer varying risk management, wealth management and asset protection strategies to achieve financial independence. Finity Group believes the discussion must begin with a thorough review of personal and professional goals. It must explore current efforts and available options, account for concerns, and should be reasonably manageable. A plan should offer guidance, direction, and confidence. It also requires proper review and upkeep.
Please follow this link for a list of common planning areas that the advisors at Finity Group can help you address.
Most people ascribe to eating well and exercising though they also realize the importance of regular visits to their doctor to affirm general health or address issues. Financial planning is not vastly different. Many people have developed good habits; for example- saving and paying down obligations. However, without the aid of a complete financial plan it’s difficult to understand if these efforts are enough to meet one’s goals or if there are difficulties under the surface that may challenge the success of their financial ambitions.
Moreover, financial planning requires ongoing evaluation. It demands that decisions are made with limited emotions, which may be difficult given the sensitive nature of money. Choices are not always black and white, and are at times complicated. A financial planner will help individuals keep on track, evaluate the grey areas and provide unbiased suggestions that will aid in the efforts to remain consistent with their goals.
There are a variety of ways to go about finding a planner who is suitable for each individual, such as asking for references from colleagues or attending workshops provided by one’s medical training program or hospital. When seeking a planner, it’s important to ask questions so that one is comfortable clarifying such points as experience, philosophy, and process. Utilizing an independent advisor helps avoid bias in regards to advice and during the plan implementation process. Finity Group also recommends asking how an advisor is compensated and if there are any contractual arrangements in place. Ask for references. Know that it’s okay to go another direction if the fit isn’t right.
If you’d like to meet with an advisor from Finity Group, follow this link and we will be in touch.