As a financial planner, I believe the most important step in the financial planning process is gathering information about the client’s financial resources and the goals they have for their wealth. Getting a complete picture is not always easy, and sometimes important information can be missed through no one’s fault.
To make this step more efficient, a few years ago I developed a simple workbook that I would give to a client at the beginning of a financial planning engagement to complete as homework. This workbook provided me with most of the information I needed to start the planning process and reduced the time and the cost of the initial consultation.
It wasn’t long before this simple workbook evolved into a wealth organizer that included all information provided by the client along with my analysis and recommendations. This information could easily be shared with family members and their accountant, lawyer and banker; other professionals I would typically work with on a client’s behalf.
Over the past few years many of my clients have suggested that I should publish my wealth organizer. Although I was flattered, I never took the suggestion seriously as I viewed the organizer as the financial plan, each one unique, not something that could be published. That is until I realized one of the things my clients valued most about the plan I delivered, was that for the first time everything was organized in one place and easy to understand. Their values, intentions and goals for their wealth were clear and easy for anyone, (family members or their other advisors) to understand.
Once completed, ORGANIZE Your Wealth will act as the statement of your values, intentions and goals for your wealth, regardless of the type of investor you are.
If you are a “Do-it-Yourself” investor who manages all of your financial planning needs personally, this book will provide a guide for the type of records you should be keeping and the other areas of personal finance beyond investing that you should also consider when planning for your future.
If you are a “Fee-Only” investor who manages your investments and hires a fee-only financial planner to create a plan for your retirement and/or estate, this book will help you gather and organize all the personal and financial information the fee-only planner will need, saving them time and you money.
If you are a “Full-Service” investor who relies on professional advice for all your needs, this book will help to ensure that the advice you are receiving is more comprehensive and in your best interest even when your financial advisor earns commissions selling investment and/or insurance products.
Click here to view “ORGANIZE Your Wealth” on Amazon.