Is “holistic” planning a true form of financial planning, or is it just a buzzword that financial advisors are using? In other words, when you hear an advisor say: “they do holistic planning,” what does that really mean?
Is “holistic” planning a true form of financial planning, or is it just a buzzword that financial advisors are using? In other words, when you hear an advisor say: “they do holistic planning,” what does that really mean?
Holistic planning takes into account someone’s whole financial picture. If you are thinking, “But shouldn’t all that be the standard for all financial plans,” the answer is yes! Holistic planning should be the standard in my opinion.
I believe that holistic financial plans should include: retirement planning, investment management (based on the investor’s values, faith, or tax considerations), risk management strategies (shifting certain financial consequences of adverse life events through insurance solutions), legacy or estate planning, and a retirement income strategy designed to help convert accumulated assets into sustainable income throughout retirement.
When I first meet with someone, the conversation does not start with how much money they have, or what level they have already attained financially. It starts with who they are and what their goals are, whether your goals are retiring early, helping children through school, building a business, leaving a legacy, or taking care of aging parents… or all the above.
What do you want your life to look like? Do you want to retire in the next 10 years? Travel more? Give more generously? Leave more tax-advantaged money to your family members or favorite charities?
The recommendations I make to help you pursue your life goals, whether they are about investments, insurance policies, or retirement income strategies, are based on your individual situation, unique aspirations, life circumstances, and financial needs. Your strategies should fit into your total financial blueprint, holistically.
Investing is only one piece of an individual puzzle. To me, holistic planning means looking at a person’s entire financial picture, not just your investments. Recommendations should be considered within the bigger picture of your life.
My job as a financial advisor isn’t just to manage investments. It’s to help put all the pieces together so my clients can gain greater clarity, a better understanding of their financial situation, and a financial strategy that reflects what’s most important to them.
To me, that’s what holistic planning should mean! Contact me and let’s talk about your life goals. You can set up a meeting right on my calendar here: https://calendly.com/jennifer-gilroy-fsgfinancial/30min I look forward to speaking with you!
To me, that’s what holistic planning should mean! Contact me and let’s talk about your life goals. You can set up a meeting right on my calendar here:
Securities offered through The O.N. Equity Sales Company, Member FINRA /SIPC, One Financial Way Cincinnati, Ohio 45242. 877-663-7267. Investment Advisory services offered through O.N. Investment Management Company. Estate planning services provided in conjunction with your licensed legal professional.
