FAQs - Financial Planning
What does it mean to be a CERTIFIED FINANCIAL PLANNER TM Professional?
Most people think all financial advisors are “certified,” but this isn’t true. Anyone can use the title “financial planner.” Only those who have fulfilled the certification and renewal requirements of the CFP Board can display the CFP® certification trademarks which represent a high level of competency, ethics and professionalism. And because CFPs are held to a fiduciary standard of care, a CFP® professional is required to act in your best interest.
What is included in a comprehensive financial plan?
- An executive summary that includes key conclusions and recommendations
- An overview of financial goals
- A financial snapshot: calculation of all relevant budget and/or debt ratios
- Development of your financial SWOT (strengths, weaknesses, opportunities, threats) analysis
- Development of current statement of cash flows and personal financial statement (financial position, net worth)
- A gap or needs analysis on your current insurance coverage
- A summary review of up to three years tax information (THIS IS NOT A SUBSTITUTE FOR THE EXPERTISE OF A TAX PROFESSIONAL)
- An analysis of your current investment strategies and holdings
- An analysis of your current estate planning needs
- A summary of your current retirement (and benefits) outlook
- Recommendation implementation checklist and timeline
- Plan for review and revision (if the engagement is ongoing)
I don't want a full financial plan; I just want a snapshot of how I'm doing financially. What do I do?
Take a peek at our Financial Quick Check service; it may be just right for you!
How do your fees work?
Flat fees are invoiced immediately, with 50% due in advance, and the balance due within 30 days of service completion.
Monthly fees are billed 15 days in advance of each service month, with payment due on the 1st of each month.
Monthly fees are billed 15 days in advance of each service month, with payment due on the 1st of each month.
I want to hire Brio. What do I do?
Schedule your free, 30 minute initial consultation to get started!