Certified Financial Planning Services
Ed Douglas, CFP
What is Financial Planning?
Financial planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a home, saving for a child's education or planning for retirement.
The Benefits of Financial Planning
Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you pay off your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as a part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure that your goals are on track.
The Financial Planning Process : Six Steps
- Establishing and Defining the Client-Planner Relationship
- Gathering Client Data, Including Goals
- Analyzing and Evaluating your Financial Status
- Developing and Presenting Financial Planning Recommendations and/or Alternative
- Implementing the Financial Planning Recommendations
- Monitoring the Financial Planning Recommendations
Comprehensive Financial Plan
Beginning with a questionnaire that we will complete together, I will provide you a comprehensive financial plan covering your entire financial situation. The information provide in the plan will cover an analysis of many financial areas including your income compared to expenses, investment planning (including asset allocation), retirement planning, college planning, estate planning, taxes, and insurance analysis (health, life, home, auto, disability). This plan along with other recommendations based on my findings will be reviewed together with you.
Fee Based Service
Normally, this is a fee-based product. This means you pay a flat fee only for the financial plan. There is no solicitation to buy other products from me and I don't sell other products. Since my compensation is based on the fee only, there is no reason for me to recommend a product or service to you that is not needed.
Certified Financial Planning Code of Ethics and Standards
The certified financial planning practice standards and code of ethics and financial responsibility requires the following principles:
Qualifications of Planner
Ed Douglas is a Certified Financial Planner CFP®, a designation that requires over 1000 hours of study and 28 hours of testing, including a 10-hour final exam. Additionally, there is ongoing continuing education required.
Ed recently retired after nearly 32 years at Citizens Bancshares as Chairman of the Board and Chief Executive Officer. He is currently Chairman Emeritus of Citizens Bancshares and a member of the Board of Directors.
Ed is the owner of Ed Douglas Certified Financial Planning and Consulting
Additionally, Ed is very active in teaching students and young adults about financial literacy. He regularly speaks to students and is the author of Making a Million With Only $2000: Every Young Person Can Do It and The Money Marathon: 7 Simple Steps to Financial Freedom
- BA Degree, Northwest Missouri State University, 1974: Math and English Majors , 3.75 GPA
- Graduate School of Banking
- Graduate School of Financial Planning, Denver, Colorado
- Certified Financial Planner: License is current and does not expire until 2011.
- Citizens Bank & Trust/Citizens Bancshares 1974
- President, 1985
- Chairman & CEO, 1990s to retirement Dec. 2005
- Currently Chairman Emeritus and Board of Directors
- Owner: Ed Douglas Certified Financial Planning/Consulting
- Presiding Commissioner of Livingston County (2015-present)
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