What is Financial Planning?

Professional Advisory Services has long offered retirement projections and analysis as a courtesy to our clients, primarily focused on expectations for income at the time of retirement. As the depth and skills of our personnel have expanded, we recently adopted advanced planning software with tools which expand our ability to model various financial scenarios and empower you with deeper insights and more flexible planning options.

With four Certified Financial Planner® professionals on our investment team, we can assess and compare the potential impact of different financial decisions in real-time, ensuring that recommended strategies are both well-informed and aligned with your long-term goals.

Financial planning is about transforming your life's numbers – earnings, savings, financial obligations, and goals – into a strategic roadmap for your financial future. This comprehensive process not only captures a snapshot of where you are today but also charts a course toward where you want to be.

What Does Financial Planning Mean to You?

While the fundamental questions about financial planning are similar, the answers are unique to each individual. For one client, it might be "Am I ready to retire?" To another, it could address "Am I saving enough for retirement?" Whatever your concerns or life stage, our process can provide a guide.

We start with an information gathering meeting. We ask that you share your financial life in numbers and discuss your goals and risk tolerance. This initial intake typically takes about an hour, with potential follow-up for additional details. One of our Certified Financial Planner® professionals will then build a comprehensive plan. We have the ability to create scenarios that demonstrate how different decisions can affect your financial life and goals. Once the plan is finalized, we will present it to you and answer any questions.

Why Do You Need a Financial Plan?

The short answer: It helps you make informed decisions about your life, investing, and money in general. Our sophisticated planning tools are particularly valuable for addressing critical financial decisions. We can help you determine the optimal time to retire, identify the most strategic moment to begin Social Security benefits, evaluate whether Roth conversions make sense for your unique situation, and suggest approaches for efficiently transferring assets to heirs.

Keeping Your Plan Relevant

From the initial “base case,” we incorporate historical market volatility into our comprehensive plans, creating a margin of safety insulated from changing economic conditions. As life progresses, your financial plan will evolve. We will conduct a regular review to ensure that your plan continues to align with your long-term goals, addressing any changes in your life circumstances.

Our Commitment

As an investment management firm adhering to a fiduciary standard, our goal is to provide objective analysis and unbiased recommendations which are in your best interest. We collaborate with your existing professionals such as accountants and attorneys if specialized expertise is needed. Financial planning helps us to do the best possible job we can for you – this is a service integral to our function as your investment advisor, and we receive no additional compensation for this work.

If you're interested in exploring a comprehensive financial analysis, please reach out to your Portfolio Manager.