What is Financial Planning?

This term is an umbrella that covers many different services. It is also called wealth management and almost always incorporates investment management. There are also many different jobs that can also be considered elements of financial planning services. Among these related occupations are:

• Accountants
• Bankers
• Estate planners
• Insurance professionals
• Investment brokers
• MBAs
• Money market account managers
• Pension and retirement planning
• Stock brokers
• Tax preparers

Selecting a Financial Planner

Given the wide range of skills involved in managing finances, one individual can hardly be expected to have all the answers. While there are plenty of competent financial advisors who work on their own, the best choice is one who is a part of one of the numerous asset management firms throughout the country and world. In the best firms, individuals network to share information and advice based on their areas of expertise for the benefit of all clients.

Wealth management firms can be extremely large and impersonal, not really interested in the average client. In many cases, these firms deal primarily with corporate accounts and high net worth individuals. Smaller firms have the resources to provide excellent service and are not so large that they can’t offer personalized attention to clients.

A reputable financial advisor represents a firm that has significant assets and works according to transparent business practices that clearly detail the company’s responsibilities and liabilities. While new companies need a chance to get started and grow, working with a firm that has a proven record of success is one way of having confidence in the results of this working partnership.

What should a Financial Planner Do?

For every client, that answer will be different. There are no two people with exactly the same circumstances so a financial advisor has to be someone who takes the time to get to know the client and understands his or her philosophy about money and investments. The most important thing any professional can do is to make sure the client understands his or her philosophy and clearly explains the options open to the client.

For most people, the financial planning professional they choose will be involved in:

• Preparing a financial overview so the client can see exactly what the current situation is
• Outlining short and long term financial goals
• Creating a budget that maximizes all monetary transactions, i.e. funds for spending, saving and investing.
• Maximizing tax reduction strategies
• Planning for retirement

The Bottom Line

It is never too late to engage the services of a reliable financial advisor to ensure peace of mind in unsettled economic times. Get started on the path to financial security with a free 1 hour consultation with the wealth management experts at Manna Capital Management. Call 703-533-0030, go online at www.mannacapitalmanagement.com or follow the firm at https://www.facebook.com/TopFinancialAdvisor.

Understand the Basics

Working with a financial planning firm or advisor does not mean handing over the paycheck and bank book. Reputable wealth management firms encourage their staff to explain the options along with any pros and cons so that clients understand the overall plan. The advisor and client work together to:

• determine the client’s current financial picture
• estimate for future needs and plans, and
• prepare a budget that will maximize the client’s resources to meet those needs.

Beyond the Piggy Bank

Once a budget is determined and a general plan is in place, the focus of the professional relationship turns to investment management. For individuals with funds to invest, the financial advisor designs and constructs a portfolio that contains a level of risk the client is comfortable with as well as a profitable rate of return. Now in the role of investment advisor, the professional:

• monitors portfolio activity
• prepares performance reviews and
• issues quarterly reports.

Successful investment advisors take advantage of the stock market, options, real estate and bonds to provide a broad base for the best all-around plan.

At this point, the scope of financial services the financial advisor undertakes becomes wider and may include helping the individual or small business owner:

• budget monthly expenses
• choose strategies to increase small business and investment profits
• identify and  purchase the right stocks and other financial investments
• provide any necessary legal resources regarding financial matters.

Down the line, there will also be a determination of the best retirement planning options as well as estate planning.

Getting the Most out of your Money

True success with financial planning and investment management depends on the constant monitoring of a person’s portfolio and the trends that are affecting the various markets. Not keeping up to date with this information can cause serious setbacks to an individual’s financial position. Since the overall economic picture is rather confusing and changes so rapidly, this observation is the responsibility of the financial advisor. The advisor also keeps in touch with the client to determine if there are any major changes in his or her life circumstances or a new direction for future plans. A good financial advisor has the client’s back while providing the client with the time to focus on life, family, career or anything else that is important.

Not all Asset Management Firms are Created Equally

There is a tremendous assortment of asset management firms eager to assist clients with their financial matters. It is important for the investorto shop around for a firm and individual that is a match in philosophy and personality and has the backing of strong, reliable assets and management. Bigger is not necessarily better for the average client so big names can easily be avoided in favor of smaller firms with a focus on personalized attention.

For a free 1 hour consultation with the wealth management experts at Manna Capital Management,call 703-533-0030, go online at www.mannacapitalmanagement.com or follow us at https://www.facebook.com/TopFinancialAdvisor to find out exactly what this reputable firm can offer.

Going to college is part of the American Dream and having a degree gives young job seekers a competitive edge. Entering into adulthood without college loan debt puts them at an even greater advantage as they first start to save for buying a home, starting a family of their own, and retirement. A 529 college savings plan helps your family invest to pay for a loved one’s eventual college education.

Since today is May 29th, the financial advisors here at Manna Capital Management have decided to make this a day to focus on spreading the word about the benefits of a 529 college savings plan. On the 29th of every month moving forward, we’ll set that day aside to focus on this topic because it not only helps families to support their up and coming generations, but it also helps young people by reducing the long-term financial burden of student-loan debt. A 529 college savings plan is a program that helps you pay for college with assets you invest over time rather than dollars you’ll borrow, therefore having the potential to save you money in the long run. Here’s why, based on potential scenario in Virginia:

Your state of residence may impact some of the variables in this scenario, such as tax benefits but if you contact a broker or financial advisor, they can help you get started with the college savings program that is right for you, often for very little up-front investment. For example in the above scenario, you can begin with a $250 investment. Once the account is open, anyone can contribute to the account.

If you’d like to speak with a trusted financial advisor about setting up 529 college savings for a loved one, please contact us. Call 703-533-0030, go online at www.mannacapitalmanagement.com or follow us at https://www.facebook.com/TopFinancialAdvisor.

Many people have learned some devastating lessons in the past five years. Now that there seems to be a rebound in the economy, it is the perfect time to engage the services of a financial planner to help guide any individual’s personal economic recovery.

The role of a financial planner

A reputable wealth management firm is designed to assist clients create and initiate financial plans that will help them maintain and grow their assets. The financial advisor assists in a variety of ways.

• Budget analysis
• Financial goals determination
• Cash flow management
• Investment planning
• Retirement planning
• Estate planning
• Risk assessment

Regardless of the size of a client’s assets the true purpose of a financial planner is to consider every question and bit of information and provide advice that impacts and is impacted by every aspect of the client’s financial and life situation.

Start at the beginning

The most important factor in the successful working relationship between a client and a financial advisor is trust. The client needs to consider several different asset management firms to determine which has the philosophy that is closest to his or her outlook on finances and investing. A large, big-name firm may be too impersonal so a smaller company with a staff of advisors with backgrounds in a variety of financial disciplines may be the right choice. These advisors share information and seek each other out for advice to prepare and maintain the best options for the client.

The current financial world is extremely complex and the rules and options change rapidly. Having a connection to a number of specialists provides the best overall safeguards for any account. The range of financial professionals includes but is not limited to:

• CPAs
• MBAs
• Stockbrokers
• Tax preparers
• Insurance professionals
• Bankers
• Estate planners
• Retirement counselors

Devise a plan

With the assistance of a financial advisor, every client takes a close look at the exact state of his or her financial affairs. Income and assets are analyzed, current expenses and anticipated future expenditures are assessed, long term goals are defined and a budget is put into place that provides the appropriate balance to the client’s monetary transactions. The financial planner then suggests the best options for reaching the future goals and begins creating a portfolio to support that growth.

Once the plan is set into motion, the investment advisor continually monitors the action of the portfolio and provides updates and reports to the client. Adjustments are made as needed to reflect changing employment conditions or other factors that may affect the client’s bottom line such as an inheritance or an unexpected major expense.

Follow through

Putting the entire financial future in the hands of another individual involves a great degree of respect and trust but does not at all mean that the client should not keep on top of the state of his or her own plan. It is important to understand the general allocation of assets and specific vehicles in place to provide for the future. That means that the financial professional should be easy to reach and willing to discuss matters of concern to the client.

To get started on the path to financial security with a free 1 hour consultation with the wealth management experts at Manna Capital Management, call 703-533-0030, go online at www.mannacapitalmanagement.com or follow us at https://www.facebook.com/TopFinancialAdvisor.

Solutions for middle class investors and small businesses

Wealth management firms are designed to provide financial advice and investment services to a wide range of clients. No two clients are the same so there is no cookie cutter approach that will satisfy everyone’s needs. An asset management firm with advisors well versed in a variety of finance related services and sizeable, secure assets can best represent the interests of diverse clients.

Wealth management is significantly more than just helping a client save money. This type of company provides a number of different services that are custom tailored to the client’s needs.

• Investments for supplementing income
• Budgets to manage monthly expenses
• Choice of the most appropriate stocks, bonds, money markets or real estate
• Retirement planning
• Tax management
• Estate and business succession planning
• Financial independence

Begin with a budget

One of the most important elements of any financial plan is the creation of a budget. This enables an individual to know exactly what his or her financial situation is and if a particular plan is working. Financial planning must begin with a full understanding of the assets that are available, the current monthly expenditures and the amount that can be saved or invested to meet projected goals.

True wealth management for middle class investors can sometimes present difficult choices. If monthly expenses are too high, there is not enough money left to provide the capital for investing. For a successful financial plan, there has to be a balance with the division of available funds so that future goals can be met.

In this case, the financial planner acts as an impartial referee and helps the client to decide exactly how to allocate assets. An investment strategy is then created and monitored by the advisor for maximum return. Updates and reports are provided to the client and any questions or changes can be addressed quickly and easily.

It’s a matter of perspective

With the help of a financial advisor, many people realize they are a bit better prepared for the future that they may have thought. Pension plans, profit sharing options, IRA or 401K provisions and other employer sponsored benefits are difficult to understand so the analysis by a professional in the greater context of the client’s full financial assets can provide tremendous reassurance. In the event of switching careers or other factors, the advisor maintains records of these accounts and ensures that benefits follow the client.

Looking at money in a different way through the help of a wealth management professional allows people to appreciate the ways it can better work for them.

Let the wealth management experts at Manna Capital Management explain their services with a free 1 hour consultation. Call 703-533-0030, go online at www.mannacapitalmanagement.com or follow us at https://www.facebook.com/TopFinancialAdvisor.

How wealth management works

For any client, the financial planning provided by a wealth management firm is designed to accomplish several basic goals no matter his or her actual value and resources.

 1.       Identify the client’s current financial situation

A financial planner must first understand who the client is. The process begins with a financial overview from which the professional determines the income, assets, current budgetary needs and general direction in which the client hopes to move.

 2.       Create an overview of short and long range expectations

Based on the information accumulated in this initial overview, the financial planner and the client analyze the basic position from which to proceed. This entails preparing a budget to maximize the efficient use of the client’s money. For many people, the desire for better material circumstances in the present prevents them from being able to effectively put a plan for the future into effect.

Once a working budget is created, the types of investments that will satisfy the client’s financial needs in terms of short and long term goals are decided. This process involves an assessment of the client’s risk tolerance as well as an examination of pension and retirement options already in place.

 3.       Provide peace of mind

While there is no such thing as guaranteed success, one of the main goals of any financial advisor is to assure the client that the best decisions have been made and that the progress of the financial plan will be carefully monitored. Nothing is ever set in stone so the job of the advisor is to constantly review the various elements of the overall plan and make changes as needed to maintain the best direction of all elements of the portfolio.

With so many options, how do you make the choice?

There are hundreds of companies that advertise wealth management services. A big name is not necessarily the right way to go because the smaller investor may not receive the personal attention the larger investors do. It is also not a good idea to go with an individual because that person’s resources are extremely limited.For the individual investor with average resources, a company that is made up of professionals from a variety of financial backgrounds is the best bet.

A financial advisor with the expertise of co-workers and the backing of sizeable assets that is willing to engage each client as an individual with special needs is the most effective partner in this working relationship designed to maximize and improve the financial situation of each and every client.

Get started on the path to financial security with a free 1 hour consultation with the wealth management experts at Manna Capital Management. Call 703-533-0030, go online at www.mannacapitalmanagement.com or follow us at https://www.facebook.com/TopFinancialAdvisor.

Many people live with the fear that they may not have saved enough to achieve that happiness. That anxiety about the future contributes to less happiness today. The good news is that you can still take control of your financial situation to ensure not only a happy retirement in the future, but also more peace of mind today.

•  Action today pays – Even if you have existing retirement accounts, they may not be working for your future at maximum potential. In investing, even a seemingly short amount of time and a small adjustment in contributions can compound to make a big difference for the future.
•  Customization can happen at any stage –  No matter what you’re currently working with, a skilled financial planner can work with you directly to customize your strategy in order to reach your ideal retirement and continue to do so in the future so you don’t fall flat.

It is never too late to readdress your retirement savings strategy. With guidance from a trusted professional, you can have a happy retirement when the day does come for you, and peace of mind today.

Get started on the path to financial security with a free 1 hour consultation with the wealth management experts at Manna Capital Management. Call 703-533-0030, go online at www.mannacapitalmanagement.com or follow company news and updates athttps://www.facebook.com/TopFinancialAdvisor.

The basic facts about finances

Financial fitness all boils down to balancing the money available with the expenses that claim part of it and the investment of the rest. Whether money on hand is income, an inheritance or some sort of windfall, some type of plan needs to be put into place to maximize the benefits it can provide. In that regard, financial planning can be defined as determining financial objectives, assessing current and anticipated resources, taking care of fixed and potential expenses and investing to achieve long range goals.

• Budget:  Knowing how much is available and what has to be done with it is the first step in developing any type of financial plan. It does not matter how much or how little money is available but it does determine how much can be spent. It is just as impossible to make up money out of thin air as it is to find more time when the day is done. Without a budget in place to set limits on the use of money, it is too easy to get into trouble.
• Expenses: There are certain expenses that must be addressed. The key is to keep those expenses in line with the money that is available. Credit has caused many people to feel that they can have bigger and better things but it still all comes down to having the money in the budget to pay for the items themselves or the credit card company.
• Anticipation: Aside from fixed expenses, there are other situations that will most likely come up in most people’s lives that add another item to the expense column. Getting married, having children, providing for college or weddings are normal life events that add significantly to the expenditure side of any budget.
• Investment: Saving in this economy is substantially more important than ever before. Life spans have increased so retirement lasts much longer for many people than the money to support it. Health care expenses continue to skyrocket and insurance is an uncertain factor. Serious planning is needed to ensure the availability of income later in life.

Devising a financial plan that works

Given the complexity of the economy and life in general, the best course of action is to consider developing a working relationship with a certified financial planner. This type of professional has the education, experience and dedication for understanding all the different aspects of the financial options available to private individuals as well as companies and even municipal entities.

With the resources available to the financial advisors working in professional wealth management firms, each aspect of an individual’s budget and overall financial goals can be analyzed, discussed and set into a plan that maximizes available assets while providing for the future. The typical financial planner has a range of expertise.

• Conducting a financial overview
• Reviewing, designing and constructing portfolios
• Devising investment strategies to reduce tax burdens
• Retirement planning with the assessment of existing pension and profit sharing options
• Managing client accounts and cash
• Estate planning

Peace of mind

Taking these steps does not guarantee that everything will be perfect, but at the least, all options have been considered and addressed as well as possible. Understanding and sticking with the concepts of budgeting and saving, especially with the professional help of a reputable wealth management expert, will provide the most likely success in preparing for a secure financial future.

Get started on the path to financial security with a free 1 hour consultation with the wealth management experts at Manna Capital Management. Call 703-533-0030, go online at www.mannacapitalmanagement.com or follow company news and updates at https://www.facebook.com/TopFinancialAdvisor.

People from all walks of life with a wide range of available assets have recognized the fact that the best way to prepare for a financially secure future is with the help of a professional financial advisor. This person has the education, experience and determination to assist any client identify the key elements relating to financial planning and devise a plan to maximize growth.

Although it is possible to find an excellent financial advisor in a small firm or even one who is in business for him or herself it makes better business sense to find a professional with the assets of a well-established firm available.   Within the top asset management firms, there is a wide variety of backgrounds that combine to provide the best services for a wide range of clients. There is no ‘one size fits all’ staff member or firm that can responsibly handle the financial matters of any individual.

What services can a quality financial advisor provide?

Defining the role of a financial advisor is more complex than many people realize. At its most basic, the job description for financial advisors is to provide advice or guidance regarding financial matters to individual or corporate customers for compensation. In other words, it is someone who gets paid to help people deal with their money. Such a simplistic description, however, barely touches the surface of the array of skills and responsibilities of financial planners or employees of top asset management firms.

These individuals come from many different economic-related backgrounds:

1. Stockbrokers
2. Real estate agents
3. Tax preparers
4. Insurance agents
5. Financial analysts
6. Pension fund experts
7. Money market and mutual fund managers
8. Estate planners
9. Bankers

When individuals with this scope of knowledge work together, they can provide every customer of the firm invaluable advice and assistance with all aspects of wealth management.

No one has to go it alone

Engaging the services of a financial advisor does not mean that an individual has handed over complete control of his or her money. The sign of a truly responsible advisor is that professional’s interest in teaching about and explaining the options that are available so that the client can understand and take part in the process.

This is important because the client may need to change advisors due to a move or some other change and it is best if there is some idea about the direction and scope of the financial plan than has been set into place. It is also significant because each client is quite different from any other and it is up to the advisor to get to know that individual and develop an understanding of his or her goals, risk tolerance and willingness to hold to a program.

It is always best to start at the beginning

Part of the job of a financial advisor is to develop a working relationship with the client. In order to be effective, that means looking at the total financial picture honestly and non-judgmentally. The complete picture needs to be clear so that the correct decisions can be made to maximize the effectiveness of any plan. That plan is built according to a step by step approach that takes many different factors into consideration.

• Current income and available assets
• Fixed expenditures – mortgage, taxes, every-day bills
• Short-term goals – children, college tuitions, weddings
• Long-term goals – travel, retirement
• Investments

Without a clear grasp of the relationship between these different elements, it is possible that there may not be a balanced approach to the financial plan and the end result will not measure up to expectations.

Develop a relationship for a lifelong process

Everyone can benefit from the services of a professional financial advisor. Even without tremendous assets and resources, a  person can depend on a financial planner to expertly manage financial needs while being aware of changes in the client’s life and different goals that come up as years pass and situations are altered. Investing and protecting wealth is the goal of a sound financial plan and a professional has the skills and support to monitor the performance of investments, make appropriate changes and provide advice if a new direction is needed.

A wealth management professional provides clients with peace of mind knowing that the financial future is secure and in good hands. When all is said and done, a financial advisor and the wealth management firm he or she represents enable clients to get more of what they want out of life by devising a plan, preparing a budget and offering a complete line of financial services.

Get started on the path to financial security with a free 1 hour consultation with the wealth management experts at Manna Capital Management. Call 703-533-0030, go online at www.mannacapitalmanagement.com or follow us at https://www.facebook.com/TopFinancialAdvisor.

Understanding the complicated interplay of financial and economic conditions and being able to relate well to clients while working with them to handle and enhance their specific monetary needs and goals is a tremendous balancing act. Numbers, formulas and following trends are rather cut and dry while dealing with people’s life goals along with successes and disappointments is entirely different.

To say that a financial planner considers all information, questions and options as they relate to a client is to paint the process with a very broad stroke.  There is a significant amount of work involved in this relationship and the best wealth management firms hire professionals who are capable of handling a full spectrum of responsibilities.

Every investor presents unique characteristics

In order to be considered among the best asset management firms, the staff needs to provide clients with excellent service, perform independent research and offer personalized money management strategies. A firm needs to be large enough to cover all aspects of financial management yet small enough and determined to offer personal service. Among the capabilities of such a firm are:

• A review of the overall financial situation of a client along with existing investments
• The determination of a budget based on actual income and projected short and long term goals
• An analysis of retirement planning, pension and insurance provisions
• The creation of a portfolio with taxable and tax-exempt options
• Estate planning
• General investment and cash management

Individuals with substantial assets as well as middle class workers and their families receive the same professional attention since everyone has the same end goal. Money is earned, inherited, earmarked for regular payments and specific extras and, hopefully, saved and invested.

Financial advisors are all unique.

The cold, hard facts

To be a successful financial advisor, a significant amount of knowledge is required in a number of related fields. Because of different rates of growth or fluctuations, investing isn’t static. There is dynamic movement in the four markets – stocks, options, bonds and real estate – and interest rates, fees and legal limits on specific contributions and withdrawals change constantly. Tracking the performance of investments is also an important part of managing money. Keeping up with these facts takes dedication and teamwork which is best achieved in companies with staff members who specialize in a variety of fields. MBAs, tax professionals, CPAs, stockbrokers, insurance agents and even estate planners and bankers each have a specific background and set of skills but each contributes in some way to the specifics of any wealth management service.

The softer, emotional side

The art of financial planning refers to the personal commitment an advisor makes to a client. That means that the investor is not just a number but a real person with specific goals, aspirations, road-blocks and triumphs. Each of these things affect the way money is gained spent and saved so no two clients are ever the same. While a good financial planner understands these elements of their clients’ lives, they are still able to make clear-headed decisions that are not affected by emotions or loyalty. What might have been good for one family member may not work well for another so the advisor can protect the client’s best interests while allowing him or her to maintain family harmony. The client does not need a friend but rather someone who can listen and clearly hear what the client has to say, formulate appropriate plans and strategies, and work with that client in an open, mutually respectful way.

For the opportunity to become involved with this type of firm, contact Manna Capital Management at 703-533-0030, go online at www.mannacapitalmanagement.com or follow these well-respected professionals at https://www.facebook.com/TopFinancialAdvisor. A free one hour consultation may be the beginning of a long and prosperous working relationship.