Financial Planning is NOT EQUAL to Insurance

Most of the people today has been over approached by the so called "Financial Advisor" who are merely Insurance Agent. And most of the people today believe that they have done the so called "Financial Planning" which is merely Insurance planning.

In fact, insurance planning is just one of the many financial planning services and it is comparatively too easy to understand nowadays. And this, create the misunderstanding to many people that they don't really need a financial planner.

The purpose of this article is to share with you all the insight view of the comprehensive financial planning services. And I believe this would definately help you understand it better and make wise and careful decision on choosing it.

So, let's start. Following are the several major services in Financial Planning.

Retirement Planning

Based on the client's goals and needs, we help clients determine if current savings will be adequate to fund their retirement. If funds are not adequate, we develop a savings plan to help achieve their goals. If already in retirement, we develop a plan for management and withdraw of funds to provide for your income needs and minimize taxes.

Portfolio Review

Our portfolio review analyzes a client's current investments to ensure they are appropriate for the client's financial condition, risk tolerance and goals. Asset allocation changes are recommended along with specific investments to fund the allocations.

Tax Planning

We assist the client, working with their tax accountant, in developing strategies to reduce their income, gift and estate taxes. We also reduce the burden of tax preparation by providing detailed realized gain and loss information to you tax preparer.

Insurance

Although we do not sell insurance, we can review your current coverage and identify any gaps or overlaps is your coverage. We can also present ideas for reducing your premium costs. We evaluate life, property and casualty, disability and long-term care insurance.

Estate Planning

Wills and trusts are valuable tools to preserve and protect your wealth, provide for your dependents and reduce estate taxes. We can recommend various strategies to help you accomplish your goals. We can review your current wills, trusts, power of attorneys and other legal documents and work with your attorney (or recommend one) to develop your plan.

Other Specific Goals

Often clients have a specific problem or need they would like to discuss. Whatever your goals, we can develop a plan for you specific needs. These might include:

• Savings plans for college
• Quit your job to start a new career or start a family
• Manage an inheritance
• Start a business
• Buy or refinance a home
• Invest in real estate