Financial Planning Life Cycle Continuum

This year, my two partners and I participated in the Business Financial Plan category. We presented at the District Leadership Conference, where we the advanced to State. This project benefited me in numerous ways. For instance, at the time, I was undecided on my career choice. Participating in this event caused me to acknowledge the financial considerations that need to be taken when operating a business. I soon learned that I enjoyed calculating the finances for a business and determining the most efficient ways for it to operate. Therefore, this event has contributed in my career choice. Due to the impact FBLA has made on my life and the involvement of it, this organization has benefitted me in ways other organizations have

On May 31, I began working for Northwestern Mutual in downtown Nashville. Northwestern Mutual is a Fortune 500 life insurance and financial planning company. Since then, my title hasn’t just been intern or college intern and I wasn’t just doing busy work or making copies for people. Northwestern Mutual treats their college interns as full time representatives with all of the daily jobs and responsibilities that full time employees handle. Northwestern gave me the title Financial Representative and sent me on my way to make a difference in peoples’ lives by giving them the opportunity to gain financial security through live insurance and financial planning.

In the context of an advisory relationship, the wealth management firm works with the client to develop, implement and monitor a comprehensive wealth management strategy.

DFA or better known as Dimensional is not like other finance agencies. They look at the positive of the market and how it can be used in their favor instead of letting fear guide them in their decision making process. They use a different approach called Lifetime Integrated Financial Experience (LIFE). LIFE looks at the overall and complete goals of the person's investment. Dimensional weeds out the thoughts of a negative market and uses what they see as the good and profitable points. They have a great circle relationship with professionals, clients, and themselves that offers continuous growth in research and understanding of where the market is and understanding of the theories on how it can change. Since being founded in 1981, the company has relied on these relationships to forward their success.

VII. Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.

The wealth management or financial planning professions provide financial planning services and investment advice to clients for high net profit. The essential goal of any financial profession is to sustain and increase the long-term wealth of their clients. Since they manage huge amount of money for other people, they must also be ethical, trustworthy and free of any criminal record involving robbery, fraud or intentional mismanagement. Thus, they should understand complex financial documents, financial regulations and legal restrictions, not only good command of investments and financial planning.

A long-term financial plan begins with strategy. Typically, the senior management team conducts an analysis of the markets in which the firm competes. Managers try to identify ways to protect and increase the firm’s competitive advantage in those markets. For example, the first priority of a firm that competes by achieving the lowest production cost in an industry might be to determine whether it should make additional investments in manufacturing facilities to achieve even greater production efficiencies. Of course, being the low-cost producer is difficult if the firm’s fixed assets are chronically underutilized. This type of firm therefore will spend a

We received notice that Aetna has denied our LifeVest claim for Ms. Sanders’ due to ZOLL being an Out-of-Network provider. Please consider this a formal appeal requesting an exception to reprocess Ms. Sanders’ claim using her In-Network benefits.

The responsibility of 401(k) investing depends on employers and employees, and lack of expertise in finance has proved to be

In financial planning, one must consider both the personal and business aspect of the profession. Without recognizing both, an advisor cannot expect to grow their business and expand their client base. The personal aspect allows advisors to better engage and connect with clients. In turn, an advisor hopes this leads to an increase in business. However, when considering the business aspect, an advisor must also recognize what is harmful or beneficial to his practice. As we said in class, we have to keep the lights on. Naturally there are strengths which apply to both aspects, while there are strengths mutually exclusive to only one aspect. My top three strengths relate to both the business and personal aspect of financial planning. The fourth

It is recommended that the A/E obtain the BLCC so ware and update from NIST.

2. Gathering information in different types of planning in a comprehensive financial plan you will need the following:

Imagine yourself taking a finance class before getting married, to discuss how to manage your budget, to learn how to borrow and invest wisely, and make intelligent decisions. Buying a car or a house can be expensive especially when you’re the type of person who likes to spend. Attending a finance course should be required for engaged couples because they need to be committed to one another, they need to be fully educated based on their finances, and work towards their discipline plan as one.

When it comes to planning for the future of the business, there are two options for the advisor, a succession plan and a business continuity plan.

Life advisors have to do financial planning of his clients and sell financial solutions (policies) to them. They are paid on the commission basis which is the percentage of the premium of policies they have sold. The average commission is 18%. There are specific qualities they should have.