A Personal Financial Plan can show you what to watch for towards your goals
You probably have a sound business plan, but do you have a personal financial plan? Whether your financial goals are simple or complex, to pursue them effectively you should have a comprehensive personal financial plan that includes:
- A retirement plan that will help ensure that you have the income you need for as long as you live
- College and education saving plans that address steadily rising costs
- A realistic investment strategy that seeks to achieve your desired level of return without taking on more risk than you can tolerate
- An estate plan that addresses your goals for charitable giving and the effective transfer of wealth to your heirs
While You’re Looking Out for Your Employees, Who’s Looking Out for You?
Business owners and executives often face a dilemma in planning for retirement. Contributions of other eligible employees may limit the amount owners and executives can contribute to traditional 401(k) and similar retirement plans, generating refunds that can undermine their retirement savings and ongoing tax strategies. An unbiased, independent advisor, can help you sort through complex IRS regulations, ERISA guidelines and product offerings to find the right solution for your business.
Who should blueprint your personal financial plan?
You should consider choosing a Certified Financial Planner professional that works with an independent broker dealer or Registered Investment Advisor. To attain the right to use the CFP® marks, an individual must satisfactorily pass the comprehensive 10 hour, two-day CFP® Certification Examination. CFP Board’s financial planning subject areas include:
- Insurance planning and risk management,
- Retirement planning and employee benefits planning,
- Investment planning,
- Income tax planning
- Estate planning.
Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and agree to adhere to CFP Board’s Standards of Professional Conduct.
What’s an independent broker dealer? I am partial to LPL Financial.
- It offers a comprehensive array of tools, resources and technology and has no proprietary products, enabling its advisors to provide objective financial guidance.
- Financial strength – LPL Financial is one of the nation’s leading diversified financial services companies and the largest independent broker/dealer1, supporting thousands of financial advisors nationwide.1
- Unbiased advice – LPL Financial does not engage in investment banking and has no proprietary products. This allows me to provide unbiased, objective guidance.
- Research – LPL Financial also has one of the industry’s largest independent research departments, giving me access to a wide range of impartial strategies that we can consider together.
Personal financial plan architect
Creating an effective personal financial plan takes time, know-how and experience. When you partner with a CFP® professional, you’ll gain:
- Knowledge of options and alternatives tailored to your specific financial situation
- Connections to a network of professionals (accounting, legal, real estate, insurance, trusts) when additional expertise is needed
- Unbiased advice and support from an experienced professional committed to guiding you toward long-term financial well-being
Is it time to look out for yourself and get or fine-tune a personal financial plan? You deserve it.
1As reported by Financial Planning magazine, June 1996-2013, based on total revenue.
(1) The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. (2) Securities and Advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC. (3) The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: AZ, IN, IL, MI.
