What is Planning Strategies?

 

 

The short answer is that we are a Financial Planning Firm.  But the problem with that answer is that today the term “Financial Planner” has become a very generic title. It is a term that is used by many different individuals within the financial services industry.  So, the short answer just doesn’t tell the whole story.  An accurate description of what we do at Planning Strategies requires a little more explanation.

Within the Financial Services industry, there is a big difference between selling products and providing advice.  The cornerstone philosophy of our firm is that before any product is recommended there needs to be a thorough planning process that comes first.  In other words…the plan should dictate the solutions.  Our clients do not join us because they want to be “sold” something…they join us because they are seeking impartial, professional advice. Because we operate on a fee for serice basis, there is never a conflict of interests between compensation and the reccomendations we make for our clients.

What we do at Planning Strategies, is walk people through a systematic and detailed process that leads to Financial Peace of Mind. 

 

 

How does the process work?

Because every client of our firm is unique, we employ a systematic process of analyzing our client’s goals and challenges. We then find the appropriate combination of solutions to meet their challenges and attain their financial goals.  This path towards Financial Peace of Mind can be outlined in four specific steps…

1. Establishing Goals and Expectations - Communication is the key to this first step.  Before any planning process can begin, both the desired outcome of the Financial Plan and the client’s and planners responsibilities must be clearly defined and understood.  This starts with the gathering of statements and documents, as well as a thorough discussion of what each client seeks to attain from their financial plan. 

2. Analyzing and Evaluating our Clients Financial Status – You can’t get where you are going, until you know where you are starting from. This step is designed to provide an accurate understanding of our client’s present financial situation.  This step includes analyzing assets and liabilities, cash flow, debt management, investment strategies, risk management, and consideratio of any special needs.  But perhaps more importantly, it will also include less tangible aspects such as considering our clients risk tolerance, goals, values and priorities.

3. Developing and Implementing the Financial Plan – In this step, our firm will prepare a financial plan that is commensurate with our client’s values, temperament and risk tolerance.  We will take the time to carefully review and explain each plan with our clients, so that they fully understand their overall financial picture, and understand what they need to do to fulfill their goals and objectives.  At Planning Strategies, we feel it is also imperative that we assist in implementing any appropriate recommendations.  This often involves working closely with our client’s accountants, attorneys, mortgage brokers, and insurance agents.

4. Ongoing Monitoring of the Financial Plan – Implementation of the plan is really only the beginning.  Life is an ever changing journey, and regular monitoring and re-evaluation of a financial plan is essential.  As relevant tax law changes, economic developments, and personal circumstances change, we will be there to continue the process of advising and counseling our clients.  At planning strategies, we plan to grow old along with our clients.  When you become our client, you become part of our family!