Financial Planner

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Who is a financial planner?

A financial planner is a committed professional who provides help to people in dealing with different personal financial issues with the help of financial planning. This includes education planning, cash flow management, investment planning, retirement planning, tax planning, risk management and insurance planning, estate planning and business succession planning. The job performed by a financial planner is generally referred as personal finance planning.

Objectives of a financial planner

The help of a financial planner is enlisted by people for the complexity of performing the following:

1. A financial planner helps to find direction and meaning in the financial decisions of a business or individual.

2. A financial planner helps you understand the effects of each financial decision on other finance areas.

3. A financial planner also enables a business or individual to adapt to changes in life thus feeling more financially secured.

The benefits of working with a comprehensive financial planner, from an individual client or family’s point of view include:

1. Creating the greatest possibility that all financial goals and objectives are achieved by the target date.

2. Having an up-to-date sensible plan which is sufficiently proactive to accommodate any kind of major unexpected financial event producing negative effects on plans.

3. Making smart financial choices along the way.

Job function of a financial planner

A financial planner concentrates on the planning aspects, specifically personal finance, as compared to a stock broker who is usually concerned with investments, or with a life insurance intermediary who counsels on risk products.

Financial planning is generally a process involving many steps and also considering the situation of the client from all the applicable angles to generate integrated solutions. The six-step process of financial planning process has been accepted by the International Organization for Standardization (ISO).

Financial planners are also referred as ‘financial adviser’ in many countries, even though these terms are technically different, and their utilities feature various functional differences. Even though there are various types of ‘financial planners,’ the term is used widely to delineate those who consider the whole financial picture of a client thus providing a comprehensive solution. 

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