How An Enrolled Agent Can Create A Financial Plan For A Client

The financial planning report is the product of the financial planning professionals analysis, and should be carefully prepared document that summarized for the client, the client's family, the client's advisers on the following. The clients objectives, strategy for investments and a summary of where they currently are financially are all important to include in the plan.  The plan in many cases should be brief, however if they have a lot of taxable income and you need to incorporate suggestions from an enrolled agent, the plan maybe longer.  The length of the report must be determined by the task set by the client, by time and cost considerations, by your style as a professional, and by your feelings as to how much the client needs to know to have confidence in and take action on your suggestions.

A good rule of thumb is overstate each section of the financial plans. Most clients prefer to have the problem and potential problems state as to succinctly and as graphically as possible. However the financial plan is a dynamic expression of ever-changing circumstances. Client's goals change, as do the resources. The changes often occur without warning and require immediate response. Obviously, in those situations, there is no time for formal planning document.  However, the learning courses like the fast forward academy, it's always best to have a financial plan pared ahead of time. In some cases, that just isn't possible, in those cases you will want to formalize a plan as quickly as possible, with input of your client.  You should never formalize a financial plan without your clients input as they often will have a lot more knowledge than you do how they manage their cash-flow and will often want to include things in the financial plan that you have not thought about.  Not only that, but if there is a problem down the road, the client will be less inclined to blame you, if they had an input in their financial plan.