A Financial Plan

My Approach

People invest for different reasons, with different goals and different motivations. Some think short term; others, long. Some may be planning for retirement or are seeking to preserve their assets in retirement. Many parents want to provide their kids with a post-secondary education. Others are simply interested in growing their assets. Who doesn't want to minimize taxes?
As is true for much else in life, having a strategy is key to achieving the outcome you want for your investments. You can take a fly by the seat of your pants approach making decisions on the fly but having a plan is more effective for achieving your goals; especially financial ones. This is why it is important to look at a plan with a "holistic" approach, one that lookes at finances from all aspects that are important to that person. It is important to understand that one can not get the most value for their money without knowing the purpose their money serves. 

Know Yourself

A key starting point when it comes to investing is to know yourself. It is important to determine an investor profile. Outline financial aspects in your life like your fianncial goals, your time horizions, risk tolerance, financial knowledge and financial situations. These are crucial things to talk about first with a financial advisor.

Education

Education is one of the most important aspects of this industry that is often over looked. In my opinion It is the sign of a good advisor and also I feel the desire to learn is a sign of a good client. Clients should be educated on the details as to why certain things are done and how to make informed decisions on their own. Some advisors feel their job is easier and more enjoyable if their client knows very little about what they are talking about. However I have found just the opposite, it is much more rewarding talking with a client that has some knowledge in an area or educating a client on different areas rather than leading them down a direction they know nothing about. Simply put education leads to a better financial plan with happier and wealthier clients.

Use Advice

The connection between you and your investments should be someone with the expertise and impartiality to guide your choices and decisions. You want someone who has your best interests at heart and not their own or company they are working for, this is the true first step in determining your investment strategy. Whatever you may be investing for, invest with guidance to overcome the emotions that interfere with finding and sticking to a strategy.