BFF Financial offers fee-based financial planning services through BFF Wealth Management, Inc. to those who prefer to pay only for financial planning advice and then wish to evaluate, select and then invest their money on their own through one of the numerous on-line investment firms.
If the client desires, we can assist in the implement our financial planning advice through Centaurus Financial, Inc. where we have access to most all investment options one might want to consider for their portfolio.
The Financial Planning process can be simple or more complex depending upon the skill and knowledge base of the advisor you have chosen to work with. No matter if you're DIY'ing it or working with a financial advisor, the financial planning process is a logical, seven-step procedure which will follow these straightforward steps:
1. Determining your current financial situation
2. Developing your financial goals
3. Identifying alternative courses of action
4. Evaluating alternatives and selecting those which fit you the best
5. Creating your financial plan
6. Implementing your financial action plan through the purchase of investment and insurance products, and
7. Reevaluating and revising your financial plan on a periodic basis
Planning without at least some modeling to show and compare the differences between strategies is just guessing. Planning without proper implementation is inviting failure. Even a mediocre plan with proper implementation will beat the best plan that is poorly implemented.
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