We believe financial planning is about managing your financial goals, expectations, needs and values while combining factors unique to you and your family with a plan to make it happen. More than anything, it is about taking care of people and creating a path towards successful and effective results.
We recognize that the financial planning process is one that is unique from person to person. One person’s needs, values and objectives are likely different to that of their friend or neighbor. Part of our multi-faceted financial planning process can include additional services and resources that may not be a primary focus of yours, but are certainly part of our discussion if applicable to you.
The initial phase of developing a financial plan involves a process of information gathering and goal setting. Together, we typically review:
- Your goals: personal, professional, and family
- Who you are and your values
- Causes you care about
- Your financial resources
- How hard you want to work / how much you want to play
- Your health and any specific issues
- When you want to retire
- What type of retirement you want to have
- Personal factors that are unique to your situation
Tax planning is an additional area of emphasis that is integral within the financial planning process. We believe sound tax planning focuses efforts on what you keep, not what you make. Tax planning can impact numerous financial planning decisions such as timing of gifts and property transfers, receipt of social security income, or minimum distribution requirements from retirement accounts, as well as the same of an investment, property, or business.
We are not accountants, but tax planning is an important component of a financial plan. Our goal is to facilitate a process of decision-making through education along with a coordinated effort that includes your accountant and related advisors.
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Not all services will be appropriate or necessary for all clients, and the potential value and benefit of the adviser’s services will vary based upon a variety of factors, such as the client’s investment and financial circumstances and overall objectives. Neither customized services nor the scope or nature of financial planning should be construed as guarantees of a particular outcome. Comprehensive or holistic financial planning indicates that financial planning will be informed by the material financial and investment circumstances of the client, as communicated by the client to the adviser, but may not consider literally all aspects of a client’s financial affairs. The effectiveness and potential success of adviser’s services can depend on a variety of factors, including but not limited to the manner and timing of implementation, coordination with the client and the client’s other engaged professionals, and market conditions. Vahanian & Associates is neither a law firm nor an accounting firm and does not provide legal or tax advice. Website visitors and clients should consult an attorney or tax professional regarding their specific legal or tax situation. Past performance does not guarantee future results. All investing comes with risk, including risk of loss.