What is a financial plan?
According to investopedia, a financial plan is a comprehensive evaluation of an investor's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans.
We use a 6 step process to build your own financial plan:
- Help you clarify your present situation by collecting and assessing all relevant financial data – assets and liabilities, tax returns, current investments, insurance policies, wills and pension plans.
- Work with you to identify financial and personal goals and objectives, and also to clarify your financial and personal values and attitudes.
- Help you to identify financial problems that can create barriers to your financial independence.
- Provide you with written recommendations and alternative solutions. These should be structured to meet your needs without emphasis on purchasing specific investment products.
- Assist you to implement the right strategy to ensure that you reach your goals and objectives.
- Provide a review and revision of your plan to ensure that you achieve your goals.
The first step in developing your financial plan is to meet with an advisor. At MDL Financial, we use our unique discovery and assessment process. This complimentary process begins with a review of your current financial circumstances, anticipated changes, future goals, and results in your customized plan.
Call us today to book your consultation.