The Financial Planning Process The Financial Planning Process entails a series of related and interdependent elements and includes some or all of the following six steps:1. Establishing and defining the client-planner relationship.2. Gathering client data, including goals.3. Analyzing and evaluating the client's current financial status.4. Developing and presenting recommendations and/or alternatives.5. Implementing the recommendations.6. Monitoring the recommendations.Implicit to financial planning and integrated into the Financial Planning Process are Core subject areas:Retirement PlanningInvestment PlanningIncome Tax PlanningInsurance Planning and Risk ManagementEmployee Benefits PlanningEstate PlanningFinancial planning is a means to an end: by applying the process steps in one or more of the core subject areas, it strives to help individuals meet their life goals through the proper management of financial resources.