As a Certified Financial Planner®, I use the following six-step method when a client engages me as their financial planner as shown below.
First Meeting
Step 1: Define and agree on the scope of the financial plan.
Step 2: Determine your goals and expectations.
Second Meeting
Step 3: Clarify your present financial status and identify any problem areas and opportunities.
Step 4: Provide recommendations in writing to address the goals discussed in step 2 above.
Third Meeting
Step 5: Implement the plan with suitable products and accounts.
Ongoing
Step 6: Monitor the Plan. Hold financial plan reviews (typically once annually) or when there has been a significant tax, economic, product change or lifestyle change affecting your financial situation.
