What to Expect from a Financial Planner

A financial planner is a professional who can help people, at any stage of life, reach their financial goals. That can be as simple as saving for a major vacation, deciding the best way to pay for a home, or which insurance policies to get. Other goals may be setting aside money to put children through college, being able to retire comfortably, or building as much wealth as possible. The strategies and plans that are recommended and implemented are based on many factors.

The first step in financial planning services is honest conversation. People have to be honest, and be able to openly discuss their current financial situation. A planner cannot begin to make recommendations without knowing everything there is to know about income, expenses, liabilities, and needs. Some planners have a questionnaire for clients to fill out to start the process. Others prefer to take the time to discuss finances and review accounts, bills, and debts. Most planners, such as those at Baggetta & Co, for example, will provide people with a list of information needed so they can be prepared for that initial meeting.


It is important at this point to be clear about comfort levels concerning risks. Some people are not comfortable risking a lot of money on the stock market, for example, while others are daring. A planner can also educate people on how the stock market works, as well as other investments. Ask as many questions as needed to understand processes. Early on in the discussions, ask about changes for services so everyone is clear. Think about both short and long term goals and be willing to discuss them with the planner. Once all the information is shared, the planner will make suggestions about steps to take, and strategies to help meet goals. Upon approval, the Baggetta planner will implement actions.

As time goes on, monitoring and reporting is done at regular intervals. This could be done annually, twice a year, or at times of major life changes. That is agreed upon between the planner and the client. Life events can include a new job, loss of a job, the birth of a child, marriage, divorce, a major illness, retirement, or death of a spouse. The best thing people can do is to begin financial planning early to provide time to meet goals. Planning can be done later as well, such as after retirement, but sooner can be more effective. Those interested in beginning planning services can go to http://www.baggetta.com.au/financial-planning-services/financial-advice for details on options, or to set up an appointment.


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