TITLE

Financial Life Planning: Moving to Q2 Inquiry

AUTHOR(S)
Diliberto, Roy; Anthony, Mitch
PUB. DATE
January 2003
SOURCE
Journal of Financial Planning;Jan2003, Vol. 16 Issue 1, p34
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article illustrates how financial planners serve clients' interest when developing an estate plan. In the financial planning model, shown in Figure 1, it seek to help the client in the areas of asset management, risk management, debt management, tax planning, estate planning and distribution planning. Although each of these areas is critical to financial well-being, there is an underlying assumption inherent in the quantitative approach used to perform these functions. At the core of the financial planning process is the life of the unique human being for whom that process is being used. Financial life planning recognizes four arenas of that life need to be understood in order for the financial processes to be spot on and lead to fulfillment for both client and planner. These four cornerstones are the client's history, the client's present circumstances, the client's hopes and goals and the client's principles and values toward life and money. Historically, the financial planner's inquiry process, at the qualitative level, has been largely focused on the goals question. There are reasons why the inquires are indispensable to service the client's life needs. The financial planner recognizes that there are many questions that must be answered in order for the process to be a perfect fit.
ACCESSION #
8841334

 

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