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Financial Planning Process

The financial planning process consists of five steps to consider a client's full financial situation when developing strategies and recommendations. It includes setting goals, analyzing resources, evaluating investment options, implementing a plan, and evaluating the plan over time as needs and markets change. The overall purpose is to manage financial resources to achieve specific objectives.

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Helen Joy Beloria
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157 views18 pages

Financial Planning Process

The financial planning process consists of five steps to consider a client's full financial situation when developing strategies and recommendations. It includes setting goals, analyzing resources, evaluating investment options, implementing a plan, and evaluating the plan over time as needs and markets change. The overall purpose is to manage financial resources to achieve specific objectives.

Uploaded by

Helen Joy Beloria
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Financial Planning Process

In this module, you will get an overview of the financial planning process. You will explore
how Financial Planning helps manage financial resources in order to achieve specific goals. 
Lesson 1 of 7

Learning Objective

By the end of this module, you will be able to:

Describe the Financial Planning process.


Lesson 2 of 7

Overview

The Financial Planning Process consists of five steps that are used to consider all aspects of a client’s
consider all aspects of a client’s financial situation when formulating financial planning strategies and
providing recommendations. 

Remember that in Financial Planning, no two


people have exactly the same:    
Goals    

Risk tolerances    

Financial resources    
Personal circumstances (age, marital status, number of dependents)

Next: The Process


Explore each step of the Financial Planning Process.

CONTINUE
Lesson 3 of 7

The Process

(If you are on a slow internet connection, this section may take a few moments to load. Thank
you for your patience.) 

Complete the content above before moving on.


Next: Knowledge Check
Review what you've learned.

LEARN MORE
Lesson 4 of 7

Knowledge Check
Question

01/05

This means managing one’s financial resources in order to achieve specific


goals.

Insurance Process

Goal Setting

Financial Planning
Question

02/05

This type of risk investment includes bank deposits and other short-term
government securities (locked-in at interest).

Low-risk Investment

High-risk Investment
Question

03/05

This step in the Financial Planning process means keeping stock of what
you already have (cash/time deposits, dollar deposits, real estate).

Set goals

Analyze resources

Evaluate investment options

Implement the plan

Evaluate the plan


Question

04/05

This step in the Financial Planning process means that the plan may have
to be revised from time to time due to changes in the market conditions
and the investor’s needs and wants.

Set goals

Analyze resources

Evaluate investment options

Implement the plan

Evaluate the plan


Question

05/05

Bank deposits and short-term government securities (locked-in at


interest) are considered high-risk investments.

True

False
Lesson 5 of 7

Summary

Financial Planning: 


Is the five-step process that is used to consider all aspects of a client’s unique
requirements.

Means managing one’s financial resources in order to achieve specific goals.


Is necessary to develop a financial plan that is suited to client’s unique requirements.

Next: Achievement Badge


You are about to complete the module.

CONGRATULATIONS
Lesson 6 of 7

Congratulations!

You have completed Module 2 Financial Planning Process.

You have earned a badge!

Next: Resources
You may download the module and other reference guides.

DOWNLOAD
Lesson 7 of 7

Downloadable Handouts

Click the PDF document to download the module handout.

Financial Planning Process.pdf


4.3 MB

Click the EXIT MODULE button to exit. You may proceed to the next module.

EXIT MODULE

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