What Is The First Step In Financial Planning As A Financial Planner

What is the first step in Financial Planning as a Financial Planner is one question being asked by people who are seeking for financial planning success.

The very first step in financial planning process is what I would be sharing with you on this article and also the work of Financial Planners.

Have you come across the phrase “Financial Planner” before?

What comes to your mind when you see it? Of course, the name gives it all out at a glance.

What Is The First Step In Financial Planning As A Financial Planner

A financial planner is obviously someone involved in planning finances, but is that just it?

A financial planner takes Inventory of your finances and maps out strategies to help you achieve your financial goals.

Some financial planners also offer a lot of financial services such as fund management and even insurance.

Everybody seems to know so much about finances these days. Your friend/ family might often offer you some financial advice on what to invest in and how to use your money.

So do you need to go through all the stress of finding a financial advisor?

Here’s the catch; A financial advisor cuts through all the noises and sentiments from friends and all, and offers you bespoke professional financial advice.

Now you see the difference. A piece of advice from a friend and one from a professional in the field, which would you root for? I guess you know best.

However, many who are keen in proper financial planning but don’t know where or how to start keeps asking questions like;

  • What is a Financial Planner
  • How to become a Certified Financial Planner
  • What is the first step in Financial Planning Process
  • What does a Financial Planner Do?
  • Financial Advisor vs Financial Planner.

These are few of the questions gathered that people ask as regards their finance management and the need for a Financial Planner.

Today, I will provide you with possible answers to the above questions and show you steps on How to become a Certified Financial Planner.

Also you will get to know What Is The First Step In Financial Planning As A Financial Planner.

Before that, let’s see What is a Financial Plan and What is a Financial Planner? read on.

What is a Financial Plan?

A financial plan is a document containing a person’s current money situation and long-term monetary goals, as well as strategies to achieve those goals.

A financial plan begins with a thorough evaluation of the person’s current financial state and future expectations and may be created independently or with the help of a certified financial planner.

Who is a Financial Planner?

financial planner helps clients meet their current money needs and long-term financial goals.

They use a structured process to guide clients toward prudent financial decisions to maximize their potential for meeting life goals.

What does a Financial Planner Do?

The major task of a financial planner is to guide you towards achieving your financial goals and objectives.

They do this in many ways, including helping you reduce your spending and relating to you profitable investment opportunities that you can embark on to secure your financial future.

Just like doctors, financial advisors are professionals with specialties in different fields. Some are specialized in budgeting.

This might be specialization in taxes and insurance, while some might also be specialized in personal finance and investments.

If your finances are not too complex, you can indulge yourself in a do-it-yourself approach.

However, suppose you know you have a more complex financial structure;

In that case, bringing on a financial advisor is important to help you navigate through managing and organizing your finances.

Also, suppose you are getting ready for a life-changing event such as getting married or having a new home, a divorce, or claiming an inheritance;

In that case, you need to seek a consultation with a financial advisor.

Still asking, What Is The First Step In Financial Planning As A Financial Planner? Here are the above things they do.


Read Also: How to Sell Gift Cards in Nigeria 2023

What Are The Types Of Financial Planners Available?

Is there just one type of financial planner available in the finance industry? I guess not.

Here are 3 types of financial planners you should look out for.

1. Robo Advisors

When it comes to low-cost Investments, robo-advisors are the best.

Many top investment and financial firms have developed robo advisors to help with the majority of the common investment financial issues.

What is locust and easy to workaround? Robo advisors can help you efficiently with portfolio management and financial planning.

2. Traditional Financial Planners

This is for you if you have a complicated or ongoing financial need.

Speaking with or hiring a physical traditional financial planner might be the best bet for you.

A traditional financial planner can offer you one-on-one services and advice for even the most complex financial situations.

However, they might be costly to work with and some of them charge as much as $200 to $300 per hour or a flat fee of $1000 – $2000 per project.

Some traditional financial planners met schedules based on the portfolio size you want them to manage or even the kind of risk you want them to offer you any advice for.

3. Online Financial Services

Some online platforms combine a computerized portfolio management system with physical financial planners.

In most cases, you will get a customized financial plan with a dedicated financial planner, but you might not meet with the person physically.

Your meetings with the financial planner will be through a phone or online video conference call.

What’s The Difference Between A Financial Advisor vs Financial Planner?

You must have seen me use these two terms interchangeably in the cause of this article, but do not be confused because they do not mean the same thing.

So what is the difference between a financial planner and a financial advisor? 

A Financial Advisor is like the broad term covering financial experts who help people with specific financial needs.

On the other hand, A Financial Planner specializes solely in offering financial services like portfolio management and investment Management. 

What Is The First Step In Financial Planning?

The first step in Financial Planning is to calculate your net worth and identify your spending habits.

With the help of a Certified Financial Planner, he/she can draft out a financial plan for you or you can write the financial plan yourself.

And once this is done, then consider longer-term objectives and ways to achieve them.


No one can say they do not need finances because there is little or nothing we can do to achieve our dream goals and desires without them.

Therefore we must place so much emphasis on managing and organizing our finances, with the help of financial planners and advisers.

In that case, suppose we can get the best professional advice on investment Management, budgeting and other financial strategies.

We can use it to secure our finances in the long term.

In conclusion, I believe with the above points, you’ve gotten to know What is the first step in Financial Planning as a Financial Planner.

Do you need a financial planner? Or are you managing your finances perfectly by yourself

Tell us in the comment section!


Read Also: How to Sell Gift Cards in Nigeria 2023

About ApexPay

Apexpay Nigeria is a trading platform established in 2018 where you can sell your gift cards for instant Naira.

Apexpay.org is the best gift card exchange platform in Nigeria to redeem and trade your giftcards at the highest possible rates.

On ApexPay; You can sell, trade and redeem the following Gift Cards within 2 Minutes:

  • Sell iTunes gift card for Naira
  • convert Amazon gift cards to cash
  • convert Footlocker gift card
  • sell $100 Apple ecode for naira
  • sell $50 Nordstrom gift cards
  • sell $100 Visa gift card for Naira
  • sell $25 Google play for cash
  • sell $200 Google Play for Naira
  • sell $100 Walmart Visa gift card
  • sell $500 Walmart Visa gift card
  • convert $20 Steam gift card to naira
  • exchange $100 Google play for naira
  • sell $200 Google play card in naira
  • sell Google play gift card at high rate.

How To Sell Gift Card on Apexpay

Trading gift cards on Apexpay is the legit and simplest way to sell gift cards online.

All you have to do is to visit the website or download our app, click on get started to begin trading all your gift cards.

To sell your gift card immediately on Apexpay platform either on (website or app);

  • Quickly download our App or visit Apexpay.org.
  • On the home page, click on Get Started.
  • Register, setup your Account and Login.
  • Locate and click on Sell Gift Card.
  • Select or Search for your Kind of Gift Card.
  • Choose your Card Category and enter Amount.
  • Upload Photo image of your Card and Submit.
  • Wait 2-5 minutes for it to be Confirmed.
  • Your Cash will be credited into your Account Wallet.
  • Click on Withdraw to enter your Bank Account Details and Withdraw.


Click here to Start Selling now on ApexPay.


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