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What Can A Financial Planner Do For You?


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May 09, 2023

In a phrase, 'A financial planner can simplify your life'. As you move through life, chances are your income is going to rise. And at the same time, you find it harder to save. Investments look riskier than ever, tax laws seem complicated and you are getting bombarded by financial sales pitches. Unfortunately, the busier and more successful you are, the less time you have to sort out your financial affairs.

Is there a solution? Yes. The financial planner. A planner's primary goal is to help you 'Breathe Easier'® about your financial life. To help you map out your goals and consolidate all aspects of your financial life into one coordinated plan.

You start the process by making basic decision about your current needs and objectives. Setting goals is important and the financial planner can help clarify your objectives and set priorities. During the fact gathering phase the planner will cover your investment portfolio, review your insurance policies, examine benefits provided by your company and analyze your household budget. Creating a list of your specific goals, like funds a child's education or what will happen if there is a death or disability, will be the foundation of your overall financial plan.

One of the most common questions asked in the planning process is: 'Will I be able to afford to retire'. The financial planner will walk you through various senarios based on how much you can save each year and how much you will need to live off in your retirement years. Questions that will be discussed could be: Where do you plan on living in retirement? Do you plan on moving into a larger home before retirement? If you are going to pay for a child's education, what kind of school will they attend? What investments are you most comfortable with and which would you prefer to avoid? Do you want to leave anything to your heirs or do you want to use all your assets in retirement? And so on, and so on….

There are several ways a financial planner will provide you with a financial plan. Whether orally or in a hard document, the planner will 1) Summarize your goals and objectives; 2) provide current and projected net worth statements or balance sheets; 3) do a tax analysis; 4) create projected cash flow requirements; 5) do an investment analysis and recommendations; 6) project progress towards retirement and other goals; 7) discuss insurance related issues; 8) give personalized recommendations on any other goals; and if requested give an estate planning analysis.

Once the plan is delivered, the planner can help you with implementation. Discussing the benefits of tax-deferred compounding and the diversification of assets across multiple areas, is part of the on-going relationship with your financial planner. The planner can help you choose the items which are most suitable to your goals and risk tolerance and help you make your investment purchases.

After implementation, you should be meeting with the financial planner on a regular basis. If you point the ship in a certain direction, you want to make sure it is staying on course. Life changes and new life events can change aspects of your previous plan, so regular updates from your financial planner could be needed. And let's not forget that at any time the expanding complexities of the financial markets and changes in the tax law will confront you with new questions for your financial planner that need answers now.

If you are not working with a financial planner, contact one of the Certified Financial Planners here at oXYGen Financial today.

If you would like to receive more information on making smart money moves for your future, be sure to contact us today!


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About the author

Van Pappas Headshot

Van Pappas

Vice President, Private CFO®

Van Pappas, CFP® - Van is a native of Atlanta. He holds his undergraduate degree in Finance with an emphasis in Real Estate. As a planner for 15 years, he earned his CFP designation from Kaplan University. He is currently the Chairman and founder of the Chamblee Chamber of Commerce and sits on the Downtown Development Authority for the City of Chamblee. In 2012, he noticed the value of helping the X-Y Generations and decided to merge his practice with oXYGen Financial.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. Investor Disclosures: https://bit.ly/KF-Disclosures

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Background and qualification information is available at FINRA's BrokerCheck website.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

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