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Financial planning in a nutshell

You may have noticed that Azzad is regularly named to top rankings of financial advisors, lists like the CNBC FA 100 and the Financial Advisor Magazine RIA Ranking. They are an important recognition of our work on behalf of clients.

More important than that, however, is the peace of mind and confidence our clients experience when they work with us. As a wealth management firm, we pride ourselves on taking the time to understand the unique needs of each client and crafting responsible, appropriate financial solutions. The way we do that is through the financial planning process. We’ve gotten some questions about it, so here’s a walk-through of our five-step program:

Your 5-Step Financial Plan

Just starting out? Use this checklist to help you review cash flow, tax, and other issues.

1) Identify goals: We start with listening and learning what is important to you and identifying and prioritizing your financial goals. At what age would you like to retire? Do you want to buy a home?

2) Collect financial data: We gather and organize your financial information such as assets, income, and expenses. Figuring out your net worth (assets minus liabilities) get incorporated into your plan.

3) Put it all together: We develop recommendations to optimize your goals and meet with you to go over them. Unlike other advisors you must pay on an hourly basis, we offer this service to qualified wealth management clients at no additional charge.

4) Develop your plan and put it into effect: We create an action plan for you and work closely with other professionals you employ, including attorneys, accountants, and bankers, to ensure that your plan is comprehensive, and implemented correctly. We can handle relationships with these parties on your behalf, creating efficiency and saving you effort, time, and money.

5) Monitor and update: The financial planning process does not end once your initial plan has been created. Your goals and assets may evolve over time, and we can help you make changes or updates to align with your changing goals.

The result of the process is a financial plan for clients that is concrete, clear, reflective of their economic situation, and responsive to unexpected events. It’s one of the many perks of working with an Azzad advisor. We’re with you every step of your financial journey.

Azzad Asset Management

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