By Jon Powell, CFP®
In this article, we’ll define the differences between financial planning and investment management, as well as detail our process for helping you determine which approach is best.
According to the CFP Board, financial planning is a collaborative process that helps maximize a client’s potential for meeting life goals through financial advice that integrates relevant elements of the client’s personal and financial circumstances.
Essentially, it’s a holistic process that looks at all parts of a client’s financial situation to create a customized plan to achieve their financial goals. It includes the following subject areas:
Investment management, on the other hand, aims to meet particular investment goals for the benefit of clients whose money a financial professional has the responsibility of overseeing.
It is a siloed service that does not necessarily incorporate the other aspects of a client’s unique financial situation. Financial planning usually includes investment management, but investment management does not automatically include financial planning.
At Ferguson Johnson Wealth Management, our team focuses on investment management and financial planning; we will be in your corner for the issues that inevitably come up.
We strive to work with clients whose goals and dreams are a fit with our expertise and background. To determine a fit and bring clients onboard we typically follow an established process:
We pride ourselves on being a stabilizing influence when our clients face times of uncertainty, whether that be market volatility, family issues, or when they just need a sounding board.
If you are looking for comprehensive financial planning that includes strategic investment management, we would love to hear from you.
At Ferguson Johnson Wealth Management, we work with pre-retirees, retirees, and government workers to create a financial plan or investment strategy tailored to your needs. To get started, reach out to us at 301-670-0994 or by email.