What is financial planning?
is a holistic, ongoing process that strives to match your financial
objectives and intangible sense of personal fulfillment with disciplined
financial action. It is a means to gain control over your financial
resources and plan for your future. A comprehensive financial plan
address all aspects of your financial life including investments,
retirement, estate, education, taxes, health, insurance, and budgeting.
What's the difference
between financial planning and investment advice?
is broader. It looks at your entire financial life -- retirement,
investments, tax, risk management
and insurance, budget, cash flow, tuition planning, and estate planning.
Investment advice focuses specifically on investing strategies.
planning make sense if my financial resources are limited?
is not just for the wealthy. People of every income bracket benefit
from gaining mastery over their financial resources. Strategies
developed during the planning process can help you reach your life goals, as
they exist now or develop in the future. Planning helps you recognize
your individual view of fulfillment and determine which expenditures
further your goals.
planning credentials are the most important in selecting an advisor?
There are many designations
in the financial services industry but the most rigorous is the
CERTIFIED FINANCIAL PLANNER™
(CFP®) designation. CFP®
practitioners are distinguished from other financial advisors by the
requirements needed to obtain and retain the use of the
CFP® mark, including
education, examination, experience, ethics, and continuing education.
The CFP® mark is the public's assurance that the
financial professional will be held accountable.
With whom is the
Foresight Financial Planning is a registered investment Advisor with the
State of California.
Foresight Financial Planning receive commissions from
brokerage firms or mutual fund companies.
The firm's only
investment compensation is from fees it receives from clients for assets
under management. This
assures objectivity in portfolio construction and management.
Will you work
with my existing advisors?
Yes, we will be happy to
coordinate with your tax advisor and attorney and, in most cases, such
consultations are included as part of our normal management fee.
Will I be
able to take part in investment decisions if you manage my portfolio?
Yes, you will. When we
select investments for your portfolio, we will explain the purpose of
each one and you will have the opportunity to approve, modify, or reject
particular recommendation. Additionally, you will received
notification by mail within three to five business days of each
investment change, and you are always welcome to call and discuss the
Will I have
to sell all or part of my current investments to work with you?
In most cases, we recommend
significant changes to a client's asset allocation and specific
investments. However, changes are usually implemented over time,
and can be adapted to some of your current holdings. For example,
if you have large unrealized gains in a position that could trigger high
income taxes if sold or if you have a strong desire to keep a particular
holding, we will use our best judgment to accommodate specific concerns.
Can I still
work with you if I manage some investments on my own?
Yes. We can set up a
separate account that will hold the assets you wish us to manage, while
you retain control over your self-managed account. All investments
-- whether managed by us or not -- will be factored into the asset
allocation we develop for you.
provide advice on how I should invest in my company's 401K Plan?
Yes, we will provide guidance on
how to choose among the available funds in your company plan.