The six steps of the financial planning process are completed in sequential order because each step depends on the previous step.  The elimination of any step may result in the loss of direction and, possibly, the loss of an inappropriate financial strategy.


  1. Establishing the client-planner relationship. 

  2. Gathering client data, determine client goals and expectations.

  3. Determine the client's financial status.

  4. Develop and present the financial plan.

  5. Implement the financial plan.

  6. Monitor the financial plan.



Upon completion of the financial plan the financial planner must monitor the plan on a continuous and ongoing basics

Modifications to the plan must be made as changes in situations and circumstances require.