Financial Planning

Financial Planning is a process that focuses on your financial situation and develops a course of action that helps you achieve your personal goals.

At Parlan, we follow a Six-Step Process to bring your financial picture into sharp focus.

Step One: Collect and assess all relevant data.
We look at your present and projected assets and liabilities, cash flow, projected retirement benefits and other employee benefits.

Step Two: Identify financial goals, problems, and planning assumptions.
Where do you want to be 5, 10, 20 years from now? We’ll help you set priorities and put things into perspective.

Step Three: Analyze alternative solutions.
There is often more than one way to get the results you desire. We consider all of the best options and help you make informed decisions.

Step Four: Analyze each specific recommendation.
We evaluate our recommendations from every aspect, taking into account such critical areas as:

• Tax Planning
• Risk Management
• Cash Management
• Estate Planning
• Retirement Planning
• Employee Benefits
• Investments and Asset Allocation
• Education Planning

Step Five: Implement recommendations.
We will help you to carry out your plan, working with your professional advisors such as your accountant, attorney, or business advisors.

Step Six: Perform periodic reviews, updates and adjustments.
We keep you informed, with scheduled conferences to review your account.

We offer financial planning in one of two ways. It depends on how complex your situation is.

If you have many concerns that need attention, we refer to that as comprehensive planning. In other words, we cannot make a recommendation without looking at multiple aspects, since they are interdependent. In other cases, the answer to financial questions can be answered independently. For example, you may have a specific question that stands alone or apart from other areas. In those instances, the time and effort required to make our recommendation is more task-oriented. We refer to this as task planning.

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