Financial planning may cover any or all of the topics listed to the right.
As investment adviser representative, Mary P. Hecht CPA provides the financial planning and investment advisory services to the client on behalf of Lighthouse Financial Planning LLC.
If the client chooses financial planning services, the financial plan chosen by the client may be "comprehensive" or "modular" in structure. In a comprehensive plan, Lighthouse Financial Planning LLC ("Adviser") will compile the client's balance sheet, statement of income and expenses, and statement of cash flows. Adviser will perform an analysis of strengths, weaknesses, opportunities, and threats. Adviser will assist the client in defining financial goals and objectives and Adviser will provide recommendations of actions and strategies that may be used to achieve those goals and objectives.
By contrast, a modular plan will only focus on a few areas of particular interest to the client such as investment planning or college funding. Financial statements are typically not included in a modular plan and the depth of analysis performed will be dependent on the extent of services desired by the client.
A written financial plan is presented to the client. It may include financial and investment strategies as well as specific product recommendations. At no time is the client under any obligation to implement any or all of the recommendations outlined in the financial plan. For additional fees, Adviser can also be engaged to assist in the implementation and/or monitoring of the plan. Implementation of the financial plan may be coordinated with attorneys, insurance agents, and other professionals.
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