101 Ways We Can Add Value to Your Financial Life

Traditionally, when people think about financial planning, they refer to investment planning. Today, Certified Financial Planners are providing value in many ways to help people stay financially healthy, much like a family doctor for physical health.

Below are some of the ways we as CFPs are helping people:

Cash Flow Management

1. Alignment of Spending with Values and Goals

2. Allocating and Bucketing Cash by Goal

3. Analysis of Changing Jobs/Salary

4. Analysis of Ways to Provide Financial Support for Adult Children or Aging Parents

5. Car Buy Vs. Lease Analysis

6. Divorce Cash Flow Analysis

7. Emergency Fund Planning

8. Expense Analysis to Find Forgotten/Unneeded Expenses

9. Home Buy Vs. Rent Analysis

10. Optimize Returns on Cash Holdings

11. Planning for a Sabbatical

12. Planning for an International Move

13. Review Personal Credit Cards and Rewards

14. Setting Cash Balance Targets

15. Vacation Home Planning

Debt Management

16. Creating a Total Debt Payoff Plan

17. Debt Payment Allocation

18. Federal Student Loan Debt Analysis and Planning/Consolidation, Using IDR/PSLF

19. HELOC Analysis

20. Home Mortgage Refinance Analysis

21. Intra-Family Loan Planning

22. Mortgage Comparison/Analysis When Buying a Home

23. Refinancing Credit Card Debt

24. Refinancing Student Loan Debt

25. Reverse Mortgage Analysis

Education Planning

26. 529 Plan Comparison Analysis

27. Discussing College Financial Aid (Merit and Need-Based) and Strategies

28. Funding Strategy With 529, UTMA, Taxable Accounts, and/or Roth IRA

29. Support Filling Out the FAFSA Form

Insurance Planning

30. Analysis of Current Permanent Insurance Policies

31. Curation of Insurance Professionals

32. Disability Insurance Analysis

33. HDHP With HSA Vs. Low-Deductible Health Insurance Analysis

34. Homeowner’s Insurance Analysis

35. Life Insurance Coverage Needs Assessment

36. Long-Term Care Insurance Analysis

37. Medicare Analysis

38. Review Auto Insurance Coverage

39. Umbrella Insurance Analysis

40. Workplace Open Enrollment Period Benefits Planning

Investment Planning

41. Asset Allocation Analysis/Adjustments

42. Asset Location Analysis/Adjustments

43. Creating Investment Policy Statements

44. Employee Stock Purchase Plan Analysis

45. Handling Concentrated Stock Positions

46. How to Invest an Inheritance/Windfall

47. Moving to Lower-Cost Investments

48. Paying Off Margin Interest Balances

49. Rebalancing Execution

50. Rental Real Estate Analysis

51. Withdrawal Strategies

Tax Planning

52. Adjusting Strategies for Changes in Tax Policy

53. Adjusting Tax Withholding/Allowances

54. Analyzing Options to Maximize QBI Deduction

55. Capital Gains Harvesting Analysis

56. Charitable Giving Location Planning (DAF, Appreciated Stock, etc.)

57. Curation of Tax Professionals

58. Leveraging College Tax Credits

59. Reviewing Annual Tax Return

60. Roth Conversion Analysis

61. Standard/Itemized Deduction Analysis

62. Stock Option Planning

63. Strategies for Accelerating / Deferring Business Income

64. Tax Bracket Management / 0% Gains Harvesting

65. Tax Credit Analysis / Opportunities

66. Tax Loss Harvesting Analysis

Retirement Planning

67. Analysis of How Much to Contribute to Retirement Accounts Each Year

68. Analysis of Roth Vs. Traditional 401(k) Plan Account

69. Considering Backdoor and “Mega” Backdoor Roth IRAs

70. Coordinating Income with Tax-Sensitive Items (e.g., Medicare Premiums)

71. Defined Benefit Pension Claiming Analysis

72. Determine When Clients Can Retire

73. Helping Clients Avoid Financial Fraud

74. Planning for Housing Transition (CCRC, etc.)

75. Retirement Cash Flow Analysis

76. Retirement Lifestyle Goal Planning / Guidance

77. Retirement Plan Distribution

78. Review Annual Social Security Statements

79. RMD Planning/Execution

80. Safe Withdrawal Rate Analysis / Retirement Income Strategies

81. Social Security Claiming Analysis

Estate Planning

82. Business Succession Planning

83. Federal Estate Tax Planning / Analysis

84. Funding of Trusts/Re-Titling of Assets

85. Gift Planning

86. Guidance on Creating/Reviewing the Advance Directive

87. Guidance on Creating/Reviewing Healthcare Proxy

88. Guidance on Creating/Reviewing Power of Attorney

89. Guidance on Creating/Reviewing Will

90. Guidance on Pre-Nuptial Agreements

91. Recommendation/Curation of Estate Attorneys

92. Review Bequest Planning

93. Review Potential Trust Options

94. State Estate Tax Planning/Analysis

95. Surviving Spouse Analysis After the Death of a Client

Psychology of Financial Planning

96. Developing and Envisioning Financial/Life Goals

97. Financial Coaching for Implementation of a Plan

98. Identifying Money Scripts

99. Offering Peace of Mind by Tracking Financial Life

100. Support Overcoming Financial Biases

101 Support Overcoming the Investment Behavior Gap

Source: https://www.kitces.com/blog/advisors-add-value-proposition-financial-planning-ideal-clients-target-persona-differentiation/