6-Step Financial Planning Process
Financial Planning - A Simple, Structured Approach
Financial planning is a clear and structured process that turns goals into measurable results. It starts by understanding each person’s circumstances and objectives, ensuring that every recommendation is both relevant and achievable.
The process centres on meaningful conversations that clarify priorities before any financial analysis takes place. Acting as a trusted adviser, your planner helps set a clear direction and adapts the plan as life and circumstances change. Every plan is personal and reflects individual goals, values, and financial situations.
FPSB's 6-Step Financial Planning Process
Every CERTIFIED FINANCIAL PLANNER™ professional follows FPSB’s recognised six step process, designed to bring structure, clarity, and confidence.
Find out more about what each step entails below.
Step 1
Establish and Define the Client Planner Relationship
The planner outlines the scope of services, clarifies roles and responsibilities, and agrees how decisions will be made to ensure mutual understanding from the outset.
Step 2
Gather Client Data, Including Goals
The planner develops a comprehensive view of your financial position, identifies your goals and timelines, and collects relevant details to support accurate and tailored advice.
Step 3
Analyse and Evaluate Financial Status
The information gathered is assessed to determine what is required to achieve your goals and where opportunities for improvement exist
Step 4
Develop and Present Financial Planning Recommendations
Personalised recommendations are created and explained clearly to support informed decision-making. Feedback is incorporated to ensure the plan reflects your objectives and preferences.
Step 5
Implement the Financial Planning Recommendations
Once agreed, the plan is executed. The planner may coordinate the implementation directly or work alongside other professionals such as accountants, solicitors, or investment advisers.
Step 6
Monitor and Review
Progress is reviewed at agreed intervals to ensure the plan remains effective and aligned with evolving goals or changing circumstances.
Your Goals
Consider short, medium, and long-term financial objectives such as buying a home, starting a business, or preparing for retirement.
This process is designed to make financial decisions simpler, clearer, and aligned with the life you want to build.