Take Control of Your Finances with the Help of a CERTIFIED FINANCIAL PLANNER™ Professional

The first step to taking control of one's finances is to create a clear financial plan. Individuals who are not sure where to begin should consult with a CERTIFIED FINANCIAL PLANNER™ professional to take some stress out of the process and get on the right track. A plan will give you meaning and direction in your financial choices, which will give you insight and visibility into the impact your current choices have on your future.

It should include long- and short-term goals that include risk and investment analysis, investment planning, and cash/flow debt management. But the most important part is the implementation and monitoring of the plan; otherwise it is simply a "file gathering dust."

It takes time, knowledge, and discipline to manage an investment portfolio, with discipline being the most difficult. Recent studies in neuroscience have shown that humans are hard-wired to make decisions that are exactly opposite of correct investment choices. They focus on the short term, overreact to market movements, invest in what is familiar, buy when the market is high, and sell when the market is low.

To develop a solid financial plan, it's important to cover all your bases. Here's how: Examine your current situation Setting financial goals Measuring your progress. From start to finish, a Certified Financial Planner™ professional can take you through the financial planning process steps to help you achieve your financial goals.

6 Steps to Help You Create a Financial Plan:

1. Establish a relationship with a CFP® Professional
Your Certified Financial Planner™ professional will explain his/her financial planning services and define each of your responsibilities. Along with compensation, you'll discuss how long the professional relationship will last and how to make decisions.

2. Gather your data and develop your financial goals
You and your CFP® professional will talk about your current financial situation and gather any necessary documents. Together, you'll define your personal and financial goals, including timeframes. You may also want to discuss your comfort level when it comes to taking financial risks.

3. Analyse and evaluate your financial status
Your Certified Financial Planner™ professional will then consider all aspects of your situation to determine what you need to do to meet your goals. Depending on what services you've asked for, your planner may analyse your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.

4. Review your CFP® Professional's recommendations
Your CFP® professional will go over his financial recommendations, explaining the rationale so you can make informed decisions. At this stage, your planner will also listen to any concerns you may have and revise his recommendations if necessary.

5. Implement your CFP professionals recommendations
You and the CFP® professional will need to agree on how the recommendations will be carried out. Your Certified Financial Planner™ professional may carry out the recommendations himself or serve as your coach, coordinating the process with you and other professionals, like attorneys or stockbrokers.

6. Benchmark your progress against the financial goals you established
As you work towards your goals, you and your Certified Financial Planner™ professional will need to decide who will monitor your progress to make sure you're staying on track. If the planner is in charge, he'll check in from time to time, reviewing your situation and making any necessary adjustments to his recommendations.

To obtain financial planning success, find a Certified Financial Professional to who can help you reach your financial goals.

In today's uncertain economy, financial planning has become increasingly important. Creating a financial plan helps you see the big picture and set long- and short-term life goals, a crucial step in mapping out your financial future.

Working with a CFP® professional can secure your financial wellbeing and give you peace of mind and help you reach financial planning success.