Skip to main content

Schulfer & Associates, LLC

Financial Planning is not a Product, it is a Process

By LouAnn Schulfer,  AWMA®, AIF®
Accredited Wealth Management Advisor®

Accredited Investment Fiduciary®


A product is often thought of as something that is manufactured.  We tend to think of the tangible, like a pile of bricks, a pair of shoes or cart full of items from Amazon or Wal-Mart.  Likewise, there are financial products that may not seem tangible but are in fact, a place to put money for a specific purpose.  Life insurance, stocks, bonds, real estate, mutual funds, CDs, annuities or any other type of financial investment are examples.  These are the products, not to be confused with the process. 


A process is a series of actions or steps that are taken as a means to an end.  These actions or steps manifest from a series of ongoing decisions that build upon each other to reach an end goal.  Building a net worth, retiring from the daily grind or successfully transitioning your business requires a process of planning that often takes years to successfully get through.  Products such s investments, trusts and computer software may be used, but the planning and the decision making is the essence of what makes the outcome successful.  It’s kind of like building a house.  The materials needed are the products, but the design, construction and project management are the process that turn the pile of products into the end goal of the home.  The same applies to your retirement plans, business strategy and reaching other financial goals.


Don’t get lured into thinking that the end financial goal comes from a product.  Financial planning is not a product, it is a process. 


LouAnn Schulfer is co-owner of Schulfer & Associates, LLC Wealth Management and can be reached at (715) 343-9600 or

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor.  Member FINRA/SIPC.