Financial Planning

Why consider using Wealth Management Resources, Inc.?

Choosing an advisor you can trust is one of the most significant decisions you will make in your lifetime. Here at Wealth Management Resources, Inc. our main objective is to help you acheive financial security today and far into the future. We start every relationship by conducting an in-depth evaluation of your financial situation in order to create a financial plan based on your specific goals and resources. Your goals will always dictate our financial recommendations. We will help you maximize your financial efforts with a well-organized plan and continue to provide you details and recommendations throughout your relationship with us.

What is Financial Planning?

Financial planning is the gathering of information relating to the financial health and well being of a client. Through an interview process, a client’s financial concerns and future goals are established. The information gathered is then analyzed and compared with the client’s stated goals. From this comparison, recommendations can be made to help a client adjust their current financial behavior so that any gaps can be filled and/or any current plans can be altered to meet goals. Or, best-case scenario, it can simply validate that the path they are currently on is the correct one.

Is a Financial Planner right for me?

Yes! Whether you have very limited resources or a sizable estate, you can benefit from the services of a financial planner.

Today, it is almost impossible for anyone not working in the financial field to keep up with the rapidly changing financial products, tax laws, and the volatile economy.

Financial product information and planning ideas abound… each claiming to be the best. You are given financial advice in articles, radio talk shows, and advertisements, but this information is often fragmented and not related to your personal situation.

Putting all this information together into a workable plan can be a daunting project without the help of a qualified advisor. We strive to explain your options in easy to understand terms, showing you how each option could affect you.

The busier you are, the less time you have to devote to sorting out these issues, and yet, a comprehensive financial plan can be the key to your financial success. Good planning always costs less than good reacting.

Benefits of working with a Financial Planner

The benefits of taking some time and sitting down with us to create your financial planning road map are numerous and will depend on your individual circumstances. However, one of the key benefits of a well-laid out financial plan that is implemented and monitored is that it will generally allow you to reach financial independence sooner than if you had not formulated a plan of action.

Financial independence can mean different things for different people but for many it means the ability to cease regular employment knowing that they have enough assets and retirement income to maintain a certain lifestyle for the rest of their life and provide for their beneficiaries after death.

Since everyone has different goals and objectives and everyone has different facts and circumstances, it is conceivable that your current financial decisions are not compatible with your true goals and objectives.

What services can you expect from us?

When you decide to work with us, you can expect:

Personal attention: We will take the time to go through a full interview with you, asking questions to get to know your financial situation, your risk tolerance and your goals before creating your personal financial plan.

Help developing an asset allocation strategy: We will help you develop a proper asset allocation strategy. Once you’ve worked with us to determine your risk tolerance, we can help you allocate your money based on a mix of asset classes with varying degrees of risk that fit your time horizon and comfort level.

Advice on specific investments that match your goals: When you’re comfortable with your financial plan and have determined an asset allocation strategy, we will then make specific recommendations on the types of mutual funds or other types of investments that will best meet your needs. We will provide research supporting our recommendations.

Answers to your financial questions: We are available to address any of your financial concerns and will regularly issue informative newsletters and quarterly reporting of your account performance.

Proactive management of your account: We can also bring investment opportunities to your attention, based on the knowledge we have of your financial plan and goals. Furthermore, we help you manage your expectations by explaining the rewards and risks of different investments.

Ongoing, regular check-ups: We will contact you on a regular basis to see if your financial situation has changed. If you’ve gotten married, switched jobs, had a child or purchased a home, your financial plan may need to be adjusted to account for these changes. At least once a year, we will be happy to review your account with you and make any adjustments necessary to ensure your plan continues to meet your situation and goals.

What is the Personal Financial Planning Process?

The financial planning process can be thought of as a science, where a logical step-by-step process is taken to assist you in achieving your financial goals. Our primary focus will be to coordinate areas of your financial plan that will give you the best possibility of achieving the highest level of outcome for all concerned – emotionally and financially.

  1. Initial Interview: We will meet to discuss how our services could best impact your personal, family and business goals.
  2. Data Gathering: As a first step towards working together, we spend time with you in a fact-finding interview. This conversation provides us with sufficient information to begin to conduct an accurate analysis. We will discover more specifics about your goals and values, as well as your current financial situation.
  3. Analyze and evaluate your financial status: We evaluate the data collected to gain a better understanding of your situation and your unique requirements in order to create your Financial Plan. If you are unable to meet your goals, then current problem areas will be identified and recommendations made to improve your chances of achieving your goals.
  4. Recommending a Plan: We will meet to discuss the analysis and plan recommendations. Together, we will determine the direction of plan development and prioritize issues to resolve.
  5. Implementing the Plan: This step is absolutely crucial to ensure that the recommendations are put into action so you can commence your journey to achieving financial independence. You will have a solid understanding of what needs to be done to maximize income and assets in order to have the greatest impact on your desires, goals and dreams. Your initial financial plan will act as the implementation guide, as well as a benchmark for monitoring the project as we move forward. Financial planning is always an ongoing process and we are here to help and guide you.
  6. Monitoring the Plan: We recommend annual reviews and maintain ongoing communications to evaluate progress towards your financial goals. We will guide you through changes, if necessary, along the way.