Articles

What is Financial Planning?

by Chris Bernard Professional Blogger
If someone asks you what a Financial Service is, would you be able to answer it? Perhaps, but not clearly, which is the best-case-scenario. But don't worry, most people would not be able to give a clear and concrete answer because nowadays, a lot of services and professions which fall within financial planning. Here are some of them:

1) Insurance agent: The job of the insurance agent is to ensure that you have the best possible financial plan or policy to protect you from unforeseen events and which also provides for the policies beneficiaries after you.

2) Accountant: An accountant will impress upon you the importance of various tax-related issues which affect your life.

3) Estate attorney: His job is to define the trusts and Wills as being the key to asset distribution, financial planning and strategizing. He also helps to prepare for life events such as incapacitation and death.
 
4) Stockbroker: The job of a stockbroker is to ensure that you are focused on your investments.

5) Investment Advisor: An Financial planning investment advisors in Ottawa seek to offer you valuable advice to help you focus on your securities and portfolio related matters. He also offers you portfolio management services for a service charge.

As you can see, Financial Planning means a lot of things, much more than the comparatively narrow disciplines. You can get these Best Affordable financial services in Ottawa.

The truth about Financial Planning is that it is not a short-term process but a lifelong, ongoing process which involves you making intelligent decisions to achieve your life goals. It is not therefore about just buying stocks, bonds, mutual funds and insurance instruments. The fact of the matter is that buying these financial instruments comes in the last stage of Financial Planning after you have a strong and concrete plan.

Financial Planning, therefore, is about developing a conceptual plan for helping you to achieve your life goals. It takes into consideration your goals, your unique conditions and situation and where you wish to go from there. For all these considerations, the initial plan is formed. After this initial plan is developed can the professional wealth planner act on it. He will then seek to perfect the plan, implement it and use a number of financial products or instruments to bring the plan to a successful conclusion.

Financial Planning is important for many things, or rather for preparing for the major events of your life such as buying a home, changing jobs or career paths, having a child and more. These plans, therefore, help you to enjoy your life in happiness and security as your wealth and finances are taken care of.

Conclusion

Nowadays, we have a lot of so-called Best Affordable financial services in Ottawa. Navigating amongst all of these may seem to be challenging, especially when you are not sure who to trust. This confusion is further augmented by the fact that numerous companies and professionals offer their financial instruments and products like hedge funds, insurance plans and mutual plans in the name of Financial Planning. Thus, be careful of people or companies trying to dupe you into buying from them and not getting any concrete benefits for your own self.


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About Chris Bernard Advanced   Professional Blogger

46 connections, 0 recommendations, 118 honor points.
Joined APSense since, July 6th, 2017, From Edmonton, Canada.

Created on Mar 14th 2018 08:29. Viewed 401 times.

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