Being well educated in financial planning is vital, especially if you try to plan on your own. However, people who do it themselves often have an inconsistent process. In this week's episode of Grow Money Business, Grant dives into the financial planning process, what you need to know about DIY planning versus hiring a professional, the seven-step financial process by the CFP board, and more.
Show Notes
[03.20] Hiring a Professional – Grant starts the discussion by sharing his thoughts on hiring a professional for financial planning.
[07.18] Planning for the Future – Grant shares why it is crucial to be smart about financial planning.
[13.14] Having a System in Place – Grant shares the importance of having a proper procedure in place for financial planning, as well as some problems he has identified with clients as a result of DIY planning.
[15.33] CFP Board - CFP Board is a non-profit organization that serves the public by promoting professional standards in personal financial planning.
[17.07] Seven-Steps– Grant walks us through the seven-step financial planning process offered by CFP.
[21.24] Reaching Out – Grant shares the details of what kind of professional you need to find if you are going to get help with your financial planning.
[25.57] Fiduciary Responsibility – Grant defines fiduciary responsibility and shares some tips for what you can do if your hired professional who does not have fiduciary responsibility.
[28.50] The Steps – Grant walks us through his firm’s financial planning steps.
Resources
Book by Jim Sheils –
The Family Board Meeting: You Have 18 Summers to Create Lasting Connection with Your Children
https://www.amazon.com/Family-Board-Meeting-Connection-Children/dp/1732362912
THE 7 STEP FINANCIAL PLANNING PROCESS –
https://www.cfp.net/ethics/compliance-resources/2019/02/the-7-step-financial-process
Strategic Financial Planning For Business Owners in Transition –
https://www.threeoakswealth.com/