Planning process

Establishing and defining the Client-Planner relationship.

The CFPCM certificate holder should clearly explain or document the services to be provided to you and define both his and your responsibilities. The CFPCM certificate holder should explain fully how he will be paid and by whom. The CFPCM certificate holder should also disclose any restrictions on his ability to give unbiased advice and disclose any conflicts of interests. You and the CFPCM certificate holder should agree on how long the professional relationship should last and how decisions will be made.

Gathering client data, including goals.

The CFPCM certificate holder should ask for information about your financial situation. The client and the CFPCM certificate holder should mutually define the personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. The CFPCM certificate holder should gather all the necessary documents before giving you the advice you need.

Analyzing and evaluating your financial status.

The CFPCM certificate holder should analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you may have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.

Developing and presenting Financial Planning recommendations and/or alternatives.

The CFPCM certificate holder should offer Financial Planning recommendations that address your goals, based on the information provided by you. The CFPCM certificate holder should go over the recommendations with you to help you understand them so that you make informed decisions. The CFPCM certificate holder should also listen to your concerns and revise the recommendations as appropriate.

Implementing the Financial Planning recommendations.

You and the CFPCM certificate holder should agree on how the recommendations will be carried out. The CFPCM certificate holder may carry out the recommendations or serve as your 'coach', coordinating the whole process with you and other professionals such as solicitors or stockbrokers.

Monitoring the Financial Planning recommendations.

The most important of the financial plan process is the review. At this stage, the CFPCM certificate holder can sit with the client and discuss the progress of each goal along with deviation from the planned amounts how best the CFPCM certificate holder can alter the situation to streamline the initial plan laid out to meet definite financial goals.