Comprehensive Financial Planning
What Is Comprehensive Financial Planning?
Click the sections below to find out more about each part of the comprehensive process used by our skilled financial planners in Rapid City for clients from many different walks of life and industries across South Dakota.
Definition of Financial Planning
The process of helping individuals discover what brings meaning to their life and supporting that quest through the efficient management of their financial resources.
Definition of Professional Financial Planning
Engaging a trained professional in the process of helping individuals discover what brings meaning to their life and supporting that quest through the efficient management of their financial resources.
What Does A Financial Planner Do?
Most people think of financial planning as designing a coherent investment strategy. While that is certainly what our CFP board-certified financial advisors do for most of our clients, it is only a fraction of everything that our skilled financial planners in Rapid City do for those we meet with. We create personal financial plans that are in our client’s best interest. We can work with you to create a financial plan that will help you meet your short-term and long-term financial goals, whether that involves retirement plans, investment planning, obtaining the right amount of life insurance, or something else, all while practicing risk management that takes into consideration your risk tolerance.
We also help our clients with becoming financially independent, designing tax strategies to lower their tax bite, planning how they want to distribute their assets upon death, determining appropriate types and amounts of insurance coverage, protecting their assets from frivolous lawsuits, managing their cash flow, paying off credit card debt, creating an emergency fund, and improving their relationship with money. The fact is: focus on personal finance and achieve your goals.
At KFG, we made a list of all of the things we do for our clients. We’re at 106 things so far . . .
Kahler Financials’ Ideal Client
- Willingness to learn
- Desire to organize their financial lives
- Willingness to delegate various financial tasks
- Realistic investment expectations
- Willingness to change behavior to further long-term goals
- Consider us their Chief Financial Officer
- Desire to enhance the quality of life
- Open-minded and willing to consider new ideas
- Affluent or becoming affluent
- Able to ignore the financial press
- Willingness to take an active role in the financial planning process
- Recognizes that big goals come by making small changes
- Keeps their agreements
- Willingness to disclose all the details of their financial lives
- Values and appreciates our services
- Has basic computer skills and is able to access email and the Internet
Who Needs A Financial Planner?
Almost everyone can benefit from having a financial advocate in their corner, no matter their financial situation. But be sure to find an advisor that can meet all of your needs and help you stay on track for meeting your financial goals. Often, it is best to choose a certified financial planner. Our specialized skills are specifically focused on giving financial services, including investment advice and financial therapy to business owners, professionals, and retirees to help them meet their short and long term financial goals. Some of the reasons that people initially seek our help include the sale or purchase of a business or real estate, a pending retirement, estate planning, credit card debt, receiving an inheritance, an insurance settlement, a change in health, investment losses, tax planning, a marriage or divorce, or the loss of a spouse or parent.
Surveys show that most people benefit from this type of planning. In 2010, the Financial Planning Association and Ameriprise surveyed over 3,022 people who had either an income or investment net worth greater than $50,000. Those with plans were more confident in their financial futures (49 percent versus 25 percent of those without plans). They felt prepared for retirement (42 percent of people versus 16 percent). They felt more in control of their financial future (50 percent versus 29 percent).
Free Initial Consultation
Kahler Financial Group offers a free initial consultation with one of our skilled financial planners in Rapid City for retirement, business, investment, or personal wealth management. So, if you are trying to find a financial advisor, consider us. We welcome the opportunity to spend time with you, discussing your individual needs and your long-term goals, asking and answering questions, reviewing our unique services, finding out about your risk tolerance, and confirming that KFG is the best fit for helping you achieve your financial goals. Please note that there will be no specific investment or financial planning advice given at this meeting.
To make an appointment for your free initial consultation or to receive our Financial Awakenings blog postings, you can provide your contact information on the contact form on our website. You can request to be contacted by phone or e-mail.
If you choose to become a client, our advisors will charge a fee for the services you use. We do not accept any commission for the products we sell you. We also do not operate under the assets under management model of financial planning, in which a percentage of an investor’s assets are removed each year as payment. We want it to be totally clear what we are being paid for our services.
How do you find a comprehensive financial planner who integrates your humanity with the dollars and cents? The difference between a traditional financial planner and one that practices financial life planning is significant. Traditional financial planners and investment advisors focus on the dollars and cents of making good financial decisions, while a financial planner that focuses on financial life planning adds the more complex human component to the process. We never use robo advisors. Since researchers tell us that 80% to 100% of all financial decisions are made emotionally, any financial planning process that excludes the psychological aspect is second-rate.