About Financial Planning

Helping People Take Control Of Their Finances

Financial Planning Standards Board defines financial planning as:

   a process of developing strategies to help people manage their financial affairs to meet life goals  

Life goals can include buying a home, saving for your child’s education or planning for retirement.

The Financial Planning Process

FPSB’s Financial Planning Process consists of six steps that financial planning professionals use to consider all aspects of a client’s financial situation when formulating financial planning strategies and making recommendations.

The Financial Planning Process consists of the following six steps:

The Value of Financial Planning

As more and more people become responsible for their long-term financial well-being, recent research by Financial Planning Standards Board Ireland finds that most consumers feel challenged by their finances.

However, consumers who work with financial professionals – particularly those who work with the CERTIFIED FINANCIAL PLANNER ™ professionals – feel better prepared to achieve their financial goals.

The Survey found that when consumers work with a financial planner:

do so, to help them manage their money.
do so, to provide peace of mind.
do so, to assist in financing a major life event.
  • Among consumers surveyed, 68 percent rate “trustworthiness” as a very important consideration when choosing a financial professional – higher than any other consideration. But a similar percentage of consumers say they don’t know whom to trust when it comes to receiving financial advice.

  • and those with a written, comprehensive plan are nearly three times more likely to feel strongly confident about achieving their life goals.

  • earn higher “excellent” ratings from consumers for important characteristics like “honesty and integrity,” “understanding needs and goals,” and “placing my interests first.”