Definition: Financial Planning Advice

A Financial Planner or Personal Financial Planner is a practicing professional who helps people to deal with various personal financial issues through proper planning, which includes but is not limited to these major areas: tertiary education planning, retirement planning, investment planning, risk management and insurance planning, tax planning, estate planning and business succession planning (for business owners). nnThe work engaged in by this professional is commonly known as personal financial planning. In carrying out the planning function, he is guided by the financial planning process to create a detailed strategy tailored to a client's specific situation, for meeting a client's specific goals.nnObjectivesnnPeople enlist the help of a financial planner because of the complexity of knowing how to perform the following:n• Providing direction and meaning to financial decisions; n• Allowing the person to understand how each financial decision affects the other areas of finance; and n• Allowing the person to adapt more easily to life changes in order to feel more secure.nnWikipedia, the free encyclopedia © 2001-2006 Wikipedia Contributors (Disclaimer)nThis article is licensed under the GNU Free Documentation License.