Financial Planning- The 6 step process

How Financial Planning Works

There’s no mystery when it comes to financial planning. What it requires is simply taking a personal, detailed look at your objectives and aims and deciding how best to achieve them. Once you decide what you want, you can make plans to get from where you are today to where you want tomorrow.

We use a 6 step Financial Planning Process

Step 1: No Obligation Initial Meeting: At this meeting, we will listen to your financial concerns and discuss what financial planning can do to help you achieve your financial objectives. Identifying your financial goals and objectives will be the foundation of your financial plan.

Step 2: Fact-finding: We delve a little deeper into what you want to do in the future, how much your current lifestyle costs, what financial commitments you have and what future aspirations you have. To correctly establish an overall picture of your finances, goals (short, medium and long term), and attitude to risk, a detailed financial questionnaire will be completed.

Step 3: Analysis: When all of the required information has been gathered, it will be analysed in order to fully understand how the client’s current finances can be optimised to achieve their objectives. This process includes determining how well the client’s investments match up to their risk profile, if they have a sufficient emergency fund in place and tax implications. 

Step 4: Presentation Meeting: Once the analysis and development of your financial plan is complete we will outline the recommend course of action. After the plan has been presented, we will thoroughly discuss the plan and address any questions or concerns, and review the plan if necessary. 

Step 5: Implementation: After agreeing on the final structure of the plan, we will then handle all of the changes required on your behalf, to ensure all items are completed appropriately and efficiently. 

Step 6: Regular Review:  In life, one thing is consistent: change. In order to adapt to changing circumstances, and ensure the strategy continues to be relevant to the client’s requirements, a structured review strategy will be put in place.


Copyright Bridge Financial Services 2020. Terms of Business | Privacy Policy | . Patrick Mackin T/A Bridge Financial Services is regulated by the Central Bank of Ireland.