A Goal without a Plan is just a Wish
What is financial planning?
At Syracuse Group, financial planning is a practice of reviewing and evaluating your current financial situation and implementing measures that protect what you already have and bring you closer to your desired financial objectives, in the knowledge that your future finances are in good order.
The Six Phases of Effective Planning
- Consider the financial objectives you want to achieve. Think about the expenses involved to achieve those goals.
- Establish where you stand right now. List all assets and liabilities that you have, including any investments that you own.
- Review where you're going to stand financially. This means seeing how far you're on the road to achieving the objectives you've set.
- Make a plan. This can be done with the help of a portfolio manager. Prepare a blueprint to achieve your goals. You can discuss and determine whether your objectives can be achieved from where you start.
- Put your plan to action. Implement the changes you described in your plan and start making a difference. A paper plan alone is not going to help you get where you want to go.
- Keep an eye on your plan and check your progress once a month. If something isn't going to be planned, take a step back and re-evaluate and adjust where necessary.
Is a Financial Planner needed?
You can design and monitor the progress of your plan yourself. It is not always necessary to involve a financial planner in order to put our finances in order, although using a professional, someone who knows and understands the products and services available, such as Syracuse Group, can bring massive rewards. Information, Timing and Action-they are the only three things you need to get right in order to make incredible returns in the markets.
Financial Planner versus Financial Adviser
A financial advisor is someone who assists and advises an individual or a company to develop a strategy to achieve long-term financial objectives. The financial planner is one category of financial adviser that focuses on a specific aspect of the overall financial picture. Financial planners are those who help you develop specific plans to help you achieve your objectives.
The Next Step:
Syracuse Group has been offering financial management and stock brokering services designed for clients who expect more. We offer tailor-made solutions to help you achieve your financial objectives. For more information on financial planning or to get in touch with us about any of our other services, please contact us.