Seven-step financial planning process
Certified Financial Planner glossary · Certified Financial Planner
Definition
CFP Board practice standards sequence from understanding circumstances through monitoring and updating.
Seven-step financial planning process in plain English
A product recommendation appears in the meeting before goals, cash flow, or risk capacity are on the table. The seven-step financial planning process is the CFP Board practice standards sequence from understanding the client's circumstances through monitoring and updating. Skipping gather or goal-setting to pitch a product is premature recommendation. Process precedence beats an otherwise attractive product answer; if the steps were short-circuited, the recommendation fails even when the illustration looks strong.
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