I think that most people have a preconceived notion of what financial services professionals do and I think that the term “financial planning” usually gets lumped in with that idea. However, financial planning is probably far from what you think it is if you lump it in with the jobs of most other financial professionals. It isn’t managing someone’s portfolio through buying and selling stocks for them (although this can be part of a financial plan) and it isn’t selling someone a financial product. True financial planning involves taking a deep dive into every aspect of a client’s financial life, helping them to organize, set goals, and create a plan to reach those goals, and helping the client follow through on their plan. A financial plan should paint a picture of where you are, help you figure out where you want to go, and define the steps that you’ll need to take to get there. Succinctly, financial planning involves helping others allocate their money and other financial resources in a way that aligns with their goals and values.
