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Simple Ways of How to Approach Financial Planning

Richard Dwayne Blair, an independent financial advisor at Wealth Solutions, believes that everybody requires to have a financial plan. The plan, he believes, is to help the individual achieve their financial goals.

In that regards, Richard Dwayne Blair seeks to help the members of his community with their financial plans. He’s coming up with a financial roadmap that will guide everyone through the milestones of life.

However, Richard Dwayne Blair has a strategic way of doing things. He believes in going through with the Three Pillar Approach in regards to financial goals. He states that the Three Pillar Approach allows him to assess a client’s current financial situation, which helps him know the kind of retirement plan the client needs.

The First Pillar

Richard designed the first pillar for the purpose of coming up with a financial roadmap for his clients. In addition, he seeks to understand the client’s goals and opportunities for growth.

Furthermore, it is during the first pillar where he builds a strong bond with his clients. That is because he is able to get a better understanding of the client, which is their goals, abilities, fears and concerns.

Lastly, Richard recommends with some clear and achievable goals for the client.

The Second Pillar

Richard designs the second to focus on the investment strategy of his clients. Richard strives to ensure that every client has their own custom-tailored strategy in respect to their businesses and their unique circumstances.

At this point, Richard actively manages and allocates assets of the client to capture the performance of the businesses. He does this specially during periods of an upward market movement. Meanwhile, he tries to avoid all the negative market periods. Frankly, they usually have a negative impact on his clients’ portfolios.

The outcome is usually put up against the clients’ expectations and their historical data. That helps his clients know how much of their goals have been achieved. Furthermore, allowing them to know how much is still left to achieve all their goals.

The Third Pillar

In the Third Pillar, Richard establishes the financial goals of the client. Later, he puts ups strategies to achieve the goals that have still yet to be achieved.

At all times, Richard will concentrate on insurance in the Third pillar. He states that since no one can predict the future, it is better to be prepared through coverage.

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