3. Analyzing and evaluating the client??™s financial status: The financial planner should
analyze the client??™s information to assess the client??™s current situation and determine
what the client must do to meet his goals. Depending on what services the client has
asked for, this could include analyzing the client??™s assets, liabilities, and cash flow,
current insurance coverage, investments, or tax strategies.
4. Developing and presenting financial planning recommendations and/or alternatives:
The financial planner should offer financial planning recommendations that
address the client??™s goals, based on the information which the client provides. The
planner should go over the recommendations with the client to help the client understand
them so that the client can make informed decisions. The planner should also
listen to the client??™s concerns and revise the recommendations as appropriate.
5. Implementing the financial planning recommendations: The client and the planner
should agree on how the recommendations will be carried out. The planner may carry
out the recommendations or serve as the client??™s ???coach,??? coordinating the whole
process with the client and other professionals such as attorneys or stockbrokers.
Pages:
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234