Contrary to what you may have been told in the past, financial planning is so much more than simply crunching numbers and filing taxes to the IRS. A comprehensive plan can uncover wealth, reveal new opportunities and show possible pitfalls. Financial planning is a diverse field — aimed to help you use your money to enhance your life and well-being.
While some financial advisors may focus on just the number crunching, at Platt Wealth Management we are interested in pursuing the entire financial landscape. We don’t stop at one facet or one event — we dig deeper.
Our process is about seeing how each aspect of your plan functions unilaterally, but more importantly how they talk to each other and work together to depict the full scope of your financial life.
This is what true comprehensive financial planning is all about: the ability to blend personal and financial goals that capture the broadest scope of your financial landscape.
What is comprehensive financial planning?
For us, comprehensive financial planning is always about moving forward. It doesn’t stop at one life goal or stall after a milestone — it continues to grow and build as you do. As you know, life is known for throwing unexpected curveballs, and a comprehensive financial plan is able to handle them with grace (and hit a home run in the process).
A comprehensive financial will:
- Foster a solid relationship with you and your advisor
- State your explicit goals and the steps to achieving those goals
- Consist of a synopsis of your current financial status and assets
- Be a unique plan perfectly tailored for you
- Be consistently monitored and adjusted as needed
Our 4 step financial planning process does just that. It gives you a roadmap that will outline your financial goals but also leaves space for growth, development, and change. The foundation of this process is the relationship between you and your certified financial advisor. Through that relationship, you and your advisor will discuss your goals and any concerns that you may have in-depth.
With a comprehensive financial plan, you are able to create a ‘health plan’ for your finances. It is a detailed record of your goals, resources, risk, and timeline. All of these aspects of your financial plan are analyzed and put together to give you the best chance of financial success.
How does a certified financial advisor deliver a comprehensive financial plan?
A comprehensive financial plan is best executed by a certified financial advisor — someone with intimate knowledge of the field and who is completely dedicated to your financial growth and development. A financial advisor paints the whole picture for you by helping you define your goals, analyzing your situation, developing and implementing your plan, and continually monitoring its health.
A certified financial advisor will take into account every aspect of your financial situation while developing a comprehensive financial plan. This can include, but is not limited to:
- Management and strategic investments
- Risk (ex: investments)
- Estate, Legacy, College, and Retirement planning
- Taxes
- Debt
- Insurance
By taking into account all of these specific areas, your finances have a greater chance of growing and succeeding. When these areas work and mold together, you will be better able to use each aspect of your financial life to your advantage. These areas all work together to form your financial life.
What can a comprehensive financial plan do for you?
The advantages of having a comprehensive financial plan are countless: it better protects you, your family, and your assets. The beauty of a comprehensive plan is that it’s prepared for the unexpected detours that life throws your way.
They provide a realistic sense of where you are on your financial journey and concrete steps to get to where you want to go. It’s a step by step process that allows you to reach your goals and gives you the financial confidence you need to have a peace of mind.
A comprehensive financial plan also challenges you by requiring you to think more about your long-term financial goals and what current financial habits need to change to help get you there. Your certified financial advisor is there to help you develop these positive financial habits.
Throughout this process, you’ll develop a deeper, trusting relationship with your certified financial advisor.
A comprehensive financial plan with Platt Wealth Management
A comprehensive plan leaves no stone unturned. Not every financial plan is comprehensive. Unfortunately, more often than not, there are pieces of the financial puzzle that are overlooked and therefore put you, the client, in jeopardy.
At Platt Wealth Management, we analyze every puzzle piece so you, your family, and your assets are protected from any unforeseen financial circumstances.
If you are searching for a complete comprehensive financial plan from someone you can trust, look no further. At Platt Wealth Management, our certified financial advisors put client’s needs first and provide completely transparent services. Are you ready to take control of your financial health?
Give us a call at (619) 255-9554 to set up a complimentary review or email us here. Let us help you succeed!