ORGANIZATION
Any successful business is organized from the top down. Policies and decisions are made by management at the highest levels; routine work and policy implementation are carried out at the support levels.
In a properly structured organization, management is free to spend most of it's time planning, implementing programs and monitoring results.
The exact opposite exists for a busy executive's planning. The organization chart is turned upside-down !
Because you work so long and hard on the production line (performing services which create revenue), you have little time for overseeing your personal financial matters.
Vital decisions are often made in haste or in response to a crisis.
Frequently, planning is delegated to staff assistants or professionals advisors who do not have the total financial picture, broad experience, or insight to deal effectively with the complexity of executive benefits, estate analysis, deferred compensation, other corporate sponsored programs, or personal wealth building plans.
WITH PIECEMEAL ADVICE, THE PUZZLE NEVER FITS
It seems logical to seek advice on tax planning from a tax attorney or CPA, on insurance from and insurance planner, on investments from a stockbroker, or on estate planning from an attorney or bank trust department. It seems logical, but sometimes it is not.
How often has this sequence of events happened to you? You receive a recommendation from an insurance planner only to have it contradicted by a stockbroker. Then you learn that your tax consultant does not think much of either approach.
It is not necessarily a case of one advisor being right and the others being wrong. Each specialist may view the problem in a different light each with an understandable bias for his / her own discipline and financial services.
The problem is trying to integrate this piecemeal information into a manageable plan. It usually does not work because the whole is often greater than the sum of the parts.At First Financial Resources (FFR) we believe that coordianted planning is most effective when it is accomplished by a qualified professional working with a single source of specialists who offers a complete arsenal of financial products and services with interdisciplinary objectivity. This principle applies to your business as well as your personal finances.