Financial planning is a comprehensive, iterative process. The following steps should guide your planner. Be familiar with them. They'll help you get the most out of the process. And remember, it's this big-picture approach that sets financial planners apart from all other financial advisors who may have been trained to focus only on one aspect of your finances.
Each client will have different needs, and your planner may not follow each of these steps in precisely this order. However, it’s important for you to have an idea of what you can reasonably expect from this process.
It’s also important you review your plan annually and update it, if necessary. It’s a good idea to update your plan when a major life event (birth of a child; retirement) occurs, or you meet a previously defined goal. Your needs define your plan – not vice versa!