Financial Planning Process | CFP Let's Make a Plan
SIX STEPS TO HELP YOU CREATE A FINANCIAL PLAN
ESTABLISH A RELATIONSHIP WITH A CFP® PROFESSIONAL. Your financial planner is required to explain his or her financial planning services and define each of your responsibilities. Along with compensation, you'll discuss how long the professional relationship can last and how to make decisions.
GATHER YOUR DATA AND DEVELOP YOUR FINANCIAL GOALS. You should gather any necessary documents and talk to your planner about your current financial situation. Together, you can define your personal and financial goals, including timeframes.
ANALYZE AND EVALUATE YOUR FINANCIAL STATUS. Your CFP® professional will consider all aspects of your situation to determine what you need to do to meet your goals
REVIEW YOUR CFP® PROFESSIONAL'S RECOMMENDATIONS. Your CFP® professional will go over his or her financial recommendations, explaining the rationale so you can make informed decisions.
SET YOUR COURSE. You and your CFP® professional need to agree on how the recommendations will be carried out. Your planner may carry out the recommendations or serve as your coach, coordinating the process with you and other professionals.
BENCHMARK YOUR PROGRESS AGAINST THE FINANCIAL GOALS YOU ESTABLISHED. As you work toward your goals, you and your CFP® professional need to decide who monitors your progress so you stay on track. If the planner is in charge, he or she will check in from time to time, reviewing your situation and making any necessary adjustments to his or her recommendations.
Cornerstone Wealth Management
Matt Stutes, CFP®
486 NW 2nd Ave.
Canby, OR 97013
Information sourced from Letsmakeaplan.org
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.