You’ve probably got a wide range of short- and long-term money goals, from paying down debt to planning for retirement to building a college fund. This is where a financial plan can help. A good financial plan identifies your financial goals, organizes and prioritizes them, then outlines the steps you need to take to achieve them.
A financial plan is a comprehensive overview of your financial goals and the steps you need to take to achieve them. Since everyone’s financial situation is unique, every financial plan will look a bit different. However, almost all plans will include your financial and life goals, an analysis of the current state of your finances, projections of your future wealth and a road map to how you’ll achieve the goals you’ve set.
One of the purposes of your financial plan is to give you an idea of if you’re on track to meet your goals or if you need to make adjustments to your spending. Financial plans stretch over years, preparing you for the long term. Whether you’re looking at estate planning, savings planning or family planning, it should be in your financial plan. Through small steps, like having a monthly savings goal or investing your money, your financial plan can lead to much better preparation for your future.
Creating and implementing a comprehensive financial plan generally involves working with financial professionals to:
Brochure --- LPL Wealth Management for Financial Planning
Your financial planning and consulting discussions may contain at least one of the following areas of analysis.
Cash Flow / Budget Planning --- Deciding in advance how you will spend your money ensures you are making regular progress toward financial goal and keeps your plan on track. If you are dealing with debt and spending issues, we will help you set your priorities and gain control over your money.
Investment Planning (Asset Allocation) --- We can provide you with a comprehensive view of your asset allocation to help you plan your long-term goals.
Business Planning --- Receive professional advice on a variety of topics, including succession planning, entity planning, retirement plan evaluation, and cash management. We can provide helpful advice for navigating these areas.
Education Planning --- There are a variety of investment and saving vehicles specifically tailored for education that can help you work toward your funding goals, including 529 plans and Coverdell Education Saving Accounts. By starting a disciplined savings plan now, you will be in a position to address your child’s education needs in the future.
Estate Planning --- We can help beneficiaries set up estate accounts, determine date of death values, and handle asset transfer on behalf of beneficiaries. When your family is meeting the challenges that accompany the loss of a loved one, we can relieve your stress by assisting with your family’s financial matters.
Retirement Planning --- Retirement planning is the process of planning and managing your short-and long-term finances to address your financial dreams during both your working years and retired life. It involved analyzing your financial objectives, current financial position, and expected future cash flows to develop a comprehensive retirement roadmap. We can develop a plan tailored to your specific anticipated needs to help you to maintain your desired lifestyle during retirement.
Tax Planning --- For many investors, reducing tax liability is a crucial component of maximizing wealth. We can provide thoughtful tax planning recommendations to help position all elements of your financial plan to work together in a tax-efficient manner.
Risk Management Planning --- Risk can take many forms: illness, accident, liability, and natural disasters, to name a few. Failing to manage risk property can jeopardize your financial future. We’ll partner with you to make sure you have a financial plan that incorporates risk management solutions to prepare for life’s unknowns.
Flat Fee Planning Services
Our advisors develop customized comprehensive financial planning report based on an assessment of the client's needs and financial situation. We charge flat fee based on annual financial planning service through the LPL Financial Registered Investment Advisor (RIA) using approved financial planning software.
Hourly Consulting Services
Hourly Consulting services enable our advisors to provide financial advice for their time. We charge an hourly rate for permitted financial planning services through LPL Financial Registered Investment Advisor (RIA). A written deliverable report is not required.
*Sample Planning Reports:
Visualize the Impact of Every Recommendation
With Interactive Planning technology, we . We won't tell you how your decisions will affect your financial future, we'll show you.
Interactive Goal-Based Planning.
Define goals and track your progress towards them.
Interactive Cash Flow Planning
Visualize the impact of goals and recommendations in real-time.
Interactive Estate Planning
Leave a lasting legacy to those most important to you.
We’ll then use the WealthVisionSM platform to integrate your financial plan into a robust personal financial website. Its powerful engine can generate comprehensive financial analytics --- calculating cash flow projections, modeling “what-if” scenarios, and generating alerts when adjustments may need to be made. You’ll have access to budget tools, reports, educational materials, and storage for personal documents in one convenient and secure location.
Our comprehensive security measures include password protection, Secure Socket Layer encryption, firewalls, intrusion detection, audits, inspections, and more. With each measure in place, you can be confident that your important information is safe and secure.
If you want to learn more about the potential benefits of financial planning, it would be our pleasure to talk to you about how you can access your comprehensive financial picture today. Schedule your appointment to begin the process by clicking this button.
It's never too late to start. In this ebook, we outline effective financial strategies for every stage of the journey.