Financial Planning
Building a personalized strategy
The first order of business in most client relationships is to create a comprehensive strategy that optimizes your financial position.
This could include analyzing your employee benefits, setting up college savings, weighing insurance options, and looking at other variables. I like to build a personalized strategy tailored to you and your family. My team sets up periodic check-ins with you because finances, like life, are not static - they ebb and flow.
A solid financial plan is intended to help you make better decisions.
Components of Financial Planning
When I meet with you, we go over everything that can affect your financial life. In the past, we've discussed the following with clients:
Cash flow
Looking at the income from your household, total expenses, and working on a strategy to maximize your position.
College savings
Talking through ways to help your kids pay for college.
Employee benefits
Helping our clients take advantage of all employee benefits they have access to, including insurance options, HSAs, employer investment matches, and more.
Insurance
Helping our clients hedge their position in life and protect their family and assets using smart insurance strategies.
Goal setting
Tangible goals help turn a hypothetical strategy into reality. We can help set achievable goals that allow you to get into a better financial position.
Retirement planning
Investing for retirement is a core topic of financial planning. What is it you're shooting for as a retirement goal? Are you saving enough to achieve that goal?
Estate planning
We can help think through the logistics of transferring wealth and legacy to the next generation. We can also refer you to estate attorneys that we trust to help develop the necessary documentation to achieve your goals.
Tax planning
We can help you navigate tax considerations and refer you to tax professionals as needed.
Disclaimer:
These testimonials were given by current clients. No compensation was provided for these testimonials. There are no conflicts of interest on the part of the people giving the testimonials. Featured testimonials do not represent the experience of all clients and are no guarantee as to clients’ future investment success.
Why Financial Planning can help you
Having a solid financial plan will help you make better decisions.
- Tailored to your situation - Financial plans are custom-tailored to your situation. Unlike generic advice from a family member or an internet forum, a financial advisor can take stock of your exact situation and recommend a course of action.
- Comprehensive and thorough - We don't just make investment recommendations, we look at every lever available to you that influences your financial position. This can include insurance, income sources, investments, and debt. We want to consider everything when giving advice.
- The follow-up - Our goal is to have regular check-ins with you to ensure everything is still on track. If life has changed (like a job change, medical bills, inheritance, etc.), we will help integrate this new variable into the financial plan. We've also discovered that follow-ups keep our clients on track!
Work with an experienced financial advisor
Tawna Hermanson has spent 13+ years helping families and individuals manage investments. She has a client education approach, where she is a Ramsey SmartVestor Pro (SVP) for the Red River Valley area.
FAQs
Schedule your first meeting with me.
Let's talk about your financial situation, life goals, and future plans.
The first meeting with me is complimentary!
Let's build a plan for your financial future, together.