Financial Planning

We believe Financial Planning begins with listening to you.

Financial planning

True financial planning is a comprehensive, ongoing approach that starts with listening to you, helping to define your goals, developing a plan to help you realize those goals, tracking your progress along the way, and then recommending changes when and where needed.

Cornerstone Financial Advisory will be able to provide services that cover each of the six steps in the financial planning process.

1. Establish and define the client-planner relationship.

We clearly explain or document the services to be provided to you and define both our and your responsibilities.

2. Gather client data, including your goals.

We ask for information about your financial situation. You along with you advisor will mutually define your personal and financial goals, understand your time frame for results and discuss how you feel about risk. Your financial planner will gather all the necessary documents before giving you the advice you need.

3. Analyze and evaluate your financial status.

Your financial planner will analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.

4. Develop and present financial planning recommendations and/or alternatives.

Your financial planner will offer financial planning recommendations that address your goals, based on the information you provide. The planner will go over the recommendations with you to help you understand them so that you can make informed decisions. The planner will also listen to your concerns and revise the recommendations as appropriate.

5. Implement the financial planning recommendations.

You and the planner should agree on how the recommendations will be carried out. The planner may carry out the recommendations or serve as your “coach,” coordinating the whole process with you and other professionals such as attorneys.

6. Monitor the financial planning recommendations.

You and the planner should agree on who will monitor your progress towards your goals. If the planner is in charge of the process, will report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes.

http://www.karen-melo.com/CERTIFIED-FINANCIAL-PLANNER.9.htm.