Comprehensive Financial Planning
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Authors
Bowen, Shane
Issue Date
2000
Type
Thesis
Language
en_US
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Abstract
The author discusses the financial planning process at American Express Financial Advisors. They recently changed their structure, creating two Platforms. The author worked in the Financial Planning Department (FPD) of Platform I during the summer of 2000. The FPD plays an integral role in the creation of comprehensive financial plans for the Platform I advisors. The construction of a financial plan begins with the initial meeting between the advisor and potential client. If the advisor is hired, he or she sends a data entry booklet with the new client to be returned to the FPD. This data is entered into the Financial Advisory Service program and a data gathering packet is returned to the advisor. The second meeting between the advisor and the client is to ensure all the information is correct. After making the necessary adjustments the advisor solves the case and returns it to the Financial Planning Department to write the case. After completion it is given to the leaders for content and quality of advice review. When it is returned to the Financial Planning Department corrections are made and it is finalized by putting it in a binder. The result is a comprehensive financial plan, which is discussed more in the next chapter. These financial plans are invaluable because of the personalized recommendations that are given. They cover just about every area of ones financial life. Chapter two starts with a discussion about cash reserve, cash flow, and income tax planning. Next, the focus shifts to the importance and benefits of education planning. Thirdly, protection planning is discussed including disability and life insurance. The fourth area investigated is estate planning. The final section is on retirement planning..
Description
29 p.
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U.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.