After twenty years in the business, we have come to the conclusion that comprehensive financial planning takes time. Our Initial Financial Plans take place over the course of four to five meetings, each spaced two weeks apart. Subsequent financial reviews, while just as important, take only about half of that time to complete.
According the Certified Financial Planning Board of Standards, financial planning is defined as follows: “the process of determining whether and how an individual can meet life goals through the proper management of financial resources. Financial planning integrates the financial planning process with the financial planning subject areas.”
The financial planning basic subject areas are:
- Financial statement preparation and analysis (including cash flow analysis/planning and budgeting)
- Insurance planning and risk management
- Employee Benefits planning
- Investment planning
- Income tax planning
- Retirement planning
- Estate planning
Total Financial Planner Investment: 16 to 20 Hours Year One
Our comprehensive Initial Financial Planning Service includes four meetings over a two month period. Meetings generally last 90 minutes. Total financial planner investment is typically of 16 to 20 hours, depending on complexity.