Financial planning is a process that ought to be thorough and requires a stable relationship with a trustworthy advisor, which is why most individuals seeking financial planning services are doubtful about what can be accomplished during a single one-hour financial planning session. As Luke Weil would likely note, these individuals are absolutely right to be concerned. Even so, a lot of progress can be made over the course of a single hour, and multiple sessions of a similar length will allow a financial planning professional to develop a complete understanding of the client’s needs with the goal of creating the most ideal financial plan possible.
Multiple sessions taking place over a period of six months to a year benefit both the client and the financial planner, and there are certainly very few drawbacks to this sort of approach. The client is able to ensure their long-term goals are entirely clear to the planner and that they also have a deep understanding of the ideal strategy for achieving those goals. The financial planner is able to develop a sense of trust with their client and can create a far more detailed plan than would otherwise be possible through a single session, regardless of its length.
The additional but brief sessions also provide the opportunity for financial planners to educate investors on any number of topics, including the circumstances in which altering the plan may be necessary. Any investor or financial planner would surely agree that any additional due diligence is only going to lead to a greater likelihood of a positive financial outcome.