Helping you achieve your goals
Financial planning1 typically encompasses a number of critical areas, including retirement planning, estate planning, insurance, tax planning, investment management, cash management and budgeting. Depending on client needs, it may also include education funding, charitable and planned giving, trust management and planning for long-term care.
Planning for the future can seem overwhelming at times because there are so many options to consider. However, if we start by answering some basic questions, the answers to those questions will then create a foundation on which to base sound financial planning decisions going forward.
Our role is to sit down with our clients and go through these questions so that, together, we can understand where the client wants to go financially and how they can best get there.
Personal financial planning helps the client reach those goals through the development and proper management of their financial resources.
Financial planning is not a product… it is a process. With the assistance of a planner, clients may use specific financial products, but only as ends to accomplish the goals they have established.
The financial planning process is a series of steps taken to help clients accomplish their goals. A qualified financial planner, such as a Certified Financial Planner® professional, will first gather and analyze data about a client’s income and expenses, taxes, insurance coverage, retirement plans, wills, trusts, investments and other information pertinent to the overall financial situation.
The planner will then help the client set realistic goals, identify key financial issues concerning these goals, and prepare a list of recommendations and alternative strategies for achieving these goals. Each strategy, from tax planning to investments, will be recommended in the context of other strategies to achieve the optimum overall results.
Once the client has decided which recommendations to follow, the planner will help them implement those decisions. The last step in the financial planning process is to periodically review and, if necessary, revise the plan.
1 Please note: The scope of any financial planning and consulting services to be provided depends upon the specific requests and needs of the client. Ifrah Financial does not serve as an attorney, accountant, or insurance agent. Ifrah Financial does not prepare legal documents or tax returns, nor does it sell insurance products.