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What Services Do Financial Planners Offer?

November 29, 2022

The breadth of services that financial planners offer can vary. Some offer a broad range of services focused on financial health while others offer more specific services. According to Investopedia, financial planners cover different areas of financial health, like investing, retirement, and goal planning. Here is a common list of services you can find associated with a financial planner.

Short- and Long-Term Financial Planning

A financial planner can show you how to meet your long- and short-term financial goals. For example, retirement planning would be a long-term goal. Paying for your child's college education or buying a house could be short-term goals. A financial planner can devise a strategy to help you meet all your financial needs in the near and distant future.

Comprehensive Financial Management

Financial professionals can create a comprehensive financial plan for you. They can look at every area of your current financial situation and make suggestions for saving, investing, and eliminating unnecessary spending. They can also help you with tax planning for your household or business. Comprehensive financial management is a complete approach to all your finances, which is often more convenient than having multiple financial planners.

Financial Investments

Some financial planners focus on selling financial services like insurance or other investments. However, if a financial planner sells one type of financial product like insurance, they often don't offer other investment advice. In other words, they often stick to the products that they sell. One of the benefits of utilizing this service is that you get the insight you may need to make an informed decision. Instead of having to choose between multiple investment opportunities, the professional you work with is experienced enough in one field to provide you with all the information you need on a single financial possibility.

Exit Plans for Business Owners

Selling or turning over a business comes with unique financial difficulties. A financial planner can provide services aimed at reducing financial risk when leaving your business. They can develop an exit strategy designed with a goal of ensuring your financial interests and assets are protected, advise on when may be an appropriate time to exit to preserve your finances, and help with tax liability and other features of the exit strategy. They're also experienced enough to walk you through the process to ensure you know the importance of each step before you take it.

There are many things that a financial planner can do to help improve your financial future. Anyone that wants to improve their financial outlook can benefit from the services that financial planners offer. Call Oak Partners Inc today to learn how your finances could improve with support from a trusted financial planner. We look forward to working with you.