This is what working with a financial planner looks like


Opinions expressed by Entrepreneur the contributors are theirs.

For many, when you start your first job and begin the onboarding process, you are first introduced to the concept of taxes, pension plans and health insurance coverage. Specifically, the difference between gross income and net income.

As you progress through your career, you save your money and work within a budget, and eventually someone tells you about investments, life insurance, and the idea of ​​building for your future. Enter a financial planner. But knowing that you need a financial planner and understanding how they can help you are two different things.

If you ask someone what a financial planner can do for you, the typical answer is: Financial planners help people achieve their financial goals. but what does that mean?

The role of a financial planner is to understand your priorities and where you stand in relation to those goals today, whether you are looking to develop a plan to prepare for retirement, to receive investment information, to create wealth at long term or better budgeting. They then create a roadmap for you to achieve those goals and provide ongoing support. Here’s what to expect when working with a financial planner:

Related: Here’s Why Financial Planning Is Key to Success

First meeting

The first time you meet with your financial planner will be a “get to know you” meeting. Your planner will want to know more about your financial goals and aspirations. At what age do you want to retire? How much money will you need for your retirement? Do you plan to put money towards your child’s education? How risky are you?

Your financial planner will also want to know your current financial situation to understand what is needed to help you achieve your financial goals within the desired time frame. How much do you currently have aside for your retirement? What assets and liabilities do you have? This knowledge will help your planner develop a strategic plan for a successful financial future.

Just as your financial planner will take the time to get to know you, be sure to take the time to get to know them. Research them – look at their LinkedIn and their website. After your first meeting, you should be sure that your planner is someone you can trust for your planning needs and with whom you can build a relationship.


Following the meeting, your organizer will ask you for documentation to support your discussion. This will help your financial planner develop an accurate plan. After receiving the necessary documents, they will create an analysis that illustrates your personal plan. They will analyze your current situation and develop comprehensive solutions. The analysis will indicate whether you are on track to achieve your goals within your given time frame or whether you are currently falling short of your plan. A planner will often model scenarios and potential outcomes so you can plan proactively rather than reactively. Once the financial analysis is complete, it’s time for the next meeting.

Related: 10 financial tips I wish I had known in my twenties

Presentation of plans

It’s time to take a look at what your advisor has prepared for you! During the second meeting, a planner will present and deliver your plan. They will walk you through the analysis and review the big picture – where you stand financially and any areas of weakness or opportunity. If you are comfortable with the plan developed by a planner, you can choose to implement the plan with them or go ahead and implement the recommendations on your own. If you decide to work with the Financial Planner, it will mark the beginning of an ongoing relationship as you strive to achieve your financial goals.

Current exams

Your financial planner will regularly manage and monitor your money to make sure you stay on track. They will schedule regular meetings with you to provide you with the opportunity to discuss your current situation on an ongoing basis and to ask questions relating to your financial situation. This will also give you the opportunity to notify them of any changes to your plan. If you recently had a child and now want to start saving for related expenses, your planner can modify your plan to include your new goals. You may have inherited some money or been fired from your job. These scenarios will impact your financial plan and should be discussed with your planner.

Related: 8 Considerations When Choosing Your Financial Advisor

Trusting someone to handle your financial situation is overwhelming! A great financial planner invests in you. They build and maintain a relationship so that your wins and losses are their wins and losses. Be sure to do your research and find a financial planner you can trust to get you one step closer to a successful financial future.


Comments are closed.