https://www.crossplainsbank.com/wealth-management-comprehensive-financial-planning.htm
http://wealthplannersgroup.net/about.html http://www.futurefirst.in/our_services/financial_planning_process
One might ask, "What is financial planning?" Financial planning is a goal oriented process to get one to their desired financial state. There are six steps in the financial planning process. The first step is to establish a trusting relationship with clients. This is most important because a client must feel comfortable with their financial planner before they disclose personal information, which is necessary for the following steps to be successful. Step two is to gather important information from clients. This information should be quantitative and qualitative. Step three is to analyze the information gathered. The fourth step is to develop a plan that will guide the client to financial success. Implementing that plan is the fifth step and the final step is to monitor and review the progress that has been made. Financial planning is an ongoing process. After monitoring and reviewing, one will begin again at step three by analyzing new data.
I have chosen three diagrams of the financial planning process and presented them in order from most to least effective. The first diagram is the most effective because the information flows smoothly and illustrates that after completing the process once, one will begin again at analyzing data. The colors are not too loud and clearly allow the wording to be presented. In addition to this diagram clearly presenting the process correctly, it is the most visually appealing.
The second diagram is a good representation of the financial planning process; however, it does not show the most important step, establishing a trusting relationship with clients. This is a pertinent step to the financial planning process and it must be shown in a diagram. The color scheme is pleasing and looks professional. I like how this diagram portrays the financial planning process as ongoing.
The final diagram, like the second, fails to present the most important step, establishing a trusting relationship with clients. The ongoing process of financial planning is clearly shown through the circular pattern. The colors are too loud and clashes with the font color, leading the diagram to not clearly show the six steps of the financial planning process.
I have chosen three diagrams of the financial planning process and presented them in order from most to least effective. The first diagram is the most effective because the information flows smoothly and illustrates that after completing the process once, one will begin again at analyzing data. The colors are not too loud and clearly allow the wording to be presented. In addition to this diagram clearly presenting the process correctly, it is the most visually appealing.
The second diagram is a good representation of the financial planning process; however, it does not show the most important step, establishing a trusting relationship with clients. This is a pertinent step to the financial planning process and it must be shown in a diagram. The color scheme is pleasing and looks professional. I like how this diagram portrays the financial planning process as ongoing.
The final diagram, like the second, fails to present the most important step, establishing a trusting relationship with clients. The ongoing process of financial planning is clearly shown through the circular pattern. The colors are too loud and clashes with the font color, leading the diagram to not clearly show the six steps of the financial planning process.