The Financial Planning Process: What We Do and Why it Matters

The financial planning process can be complex and confusing says Vincent Camarda. The good news is that it’s not hard to understand in the first place: you just need to know what you’re looking at, and how to read it correctly. The bad news is that many people don’t realize they need a financial plan until they’ve already built up some serious debt or other problems. By then, it may already be too late for them—but if you start early enough and follow through consistently with your plan, you could avoid this fate completely!

You May Be Able To Benefit From A Financial Plan Even If You’re Not Sure You Can Afford One

Not everyone who needs help with their finances has the money to hire a financial planner. However, you may be able to benefit from a financial plan even if you’re not sure you can afford one.

Financial planning is not just for the wealthy. It can help you manage your money better and find ways to save more.

What’s Involved In The Financial Planning Process?

The financial planning process is a collaborative effort. It requires an understanding of the client’s current situation, a focus on the future, and the ability to help your client make smart decisions along the way. The process begins with gathering relevant information about your client’s current financial situation and life goals, which is then used to develop strategies for achieving those goals. The work continues throughout your client’s lifetime as they go through major milestones like buying a house or retiring from their career. We recommend that you meet with us annually at minimum so we can review your progress and make adjustments as needed.

Your Financial Plan Isn’t Done Until It’s Actually Done

Your financial plan is not done until it’s actually done.

It’s a process, not an event.

A financial plan is a dynamic document that changes over time to reflect your changing circumstances and needs. It should be reviewed and revised on a regular basis (once annually or more often if you have major life changes).

Do I Really Need A Financial Plan?

For many people, the idea of financial planning can seem overwhelming. How do you get started? What are the steps involved? How is a financial plan different from other types of plans (like strategic plans)?

So let’s start with what we mean by “financial plan.” A good financial plan:

  • Helps you understand your current financial situation (assets and liabilities) and how it relates to what you want out of life.
  • Helps you understand your goals related to money, such as how much wealth accumulation or charitable giving may be important to you.
  • Identifies potential obstacles that could prevent us from achieving our goals and develops strategies for overcoming them


We think that if you’ve made it to this point, you’re probably wondering if financial planning is right for you. If so, we recommend that you take a self-test (like the one on our website) and see how much work your finances could use. Maybe your current situation doesn’t seem bad enough to warrant intervention, but maybe it will in the future. Or maybe it does now! Either way, we hope we’ve convinced you that financial planning isn’t just for rich people—it can help anyone who wants their money to work harder for them.

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