In general the process of financial planning involves preparing a comprehensive statement of the long-term goals for your security and well-being. It also includes a savings and investing regimen to achieve those goals. This process of continually reviewing your own financial plan helps you stay on track to achieve your personal goals and provides you the necessary clarity to improve or alter these goals. In this light, a financial plan is most effectively created with the help of a certified financial planner. 

A financial planner is a professional that works with individuals, families, and businesses to help them understand their financial circumstances and how to achieve their financial objectives. In line with this, here are some tasks that a skilled financial planner will guide you through:

1.Articulation of your goals: 

Your financial planner will help you document a clear articulation of the goals you hope to achieve. They carry out this operation using the relevant financial information – such as your total annual income, debt obligations, monthly expenses, current investment holdings, savings, tax liabilities, and existing insurance plans – that you provide during an initial interview.

2.Personal finance management: 

A Financial planner will guide you through many personal finance areas such as debt management, savings objectives and strategies, and budgeting. They also advise you on the various investment strategies, estate planning considerations and insurance requirements that you will need to maintain your interests. Additionally, a financial planner also monitors your accounts and determines if changes are needed in order to improve your performance.

3.Tax efficiency information:  

In some cases, a financial planner will give you advice on how to improve your tax situation. However, they do not typically deal with tax returns. 

These are the general services provided by most financial planners. Depending on their training and experience, some financial advisors may specialize in areas such as risk management. 

But, when major life changing events occur – like receiving an inheritance, having to sell your business or deciding to retire – traditional financial planning must give way to financial transition planning. Financial transition planning is a professional advisory service that is designed to help blend unique human experiences with observable facts. This helps empower you to make the right decision and get through a difficult period of your life efficiently. In a similar manner, the services of a professional financial planner are taken over by a certified financial transitionist. During a transition, the expertise of a transitionist allows for a harmonious movement through any transition that you experience. Here’s what experienced and certified financial transitionists do:

1.Devise a transition plan: 

A transitionist will help you develop a specialised framework to get through a transition, that takes into account your present assets and future goals with respect to the nature of a transition and the implications it will have on your life.

2.Implement your plan for transitions: 

Your transitionist will help you implement your plan during a transition and establish order to regain your balance amidst the chaos and confusion of the transition. This is accompanied by a means to move forward at each stage. 

3.Refine and Rethink: 

Finally your transitionist will help you continually refine and rethink your transitions plan to better suit your dynamic personality.

So, in this light, if you are looking for traditional financial planning services, you will need to approach a certified financial planner or a wealth management firm that has fluency in those conventions. However, if you are looking for specialized help in terms of directing you through life transitions effectively, then it will be in your best interest to approach an experienced and certified financial transitionist. They will ensure that you are guided smoothly through any financial transitions that you may experience.