Why "It Depends" Defines Financial Planning

One phrase the Director of Virginia Tech’s Financial Planning and Wealth Management program frequently used when discussing client recommendations was, “It depends.” As a student, this could be quite frustrating when studying for a multiple-choice exam. However, “it depends” is precisely what makes financial planning meaningful and engaging.

Financial Planning involves looking at a client’s entire financial picture and advising them on how to achieve their short and long-term financial goals. Every client brings a unique set of values, resources, risk tolerance, and aspirations. Because of this, understanding a client begins with far more than their balance sheet or cash‑flow statement. For example, a client hoping to purchase a home within a few years may need a more conservative investment allocation to protect the funds required for a down payment. The recommendations should reflect not just financial data, but the client’s goals.

Perhaps the most important element of the advisor–client relationship is its ongoing nature. Both external and personal circumstances change over time.

Economic and legislative shifts, such as market volatility or updates to tax laws, can directly influence a client’s financial picture. Returning to the home‑purchase example, a change in interest rates could affect housing affordability. The advisor should work with the client to understand if the recommendation should be modified. 

At the same time, clients’ lives change. Events like having a child, the passing of a loved one, or shifting personal priorities often require updates to their financial, tax, estate, insurance, and investment strategies. A strong advisor–client relationship helps the advisor stay informed about these meaningful life events, gather deeper insights, and continually refine recommendations.

In short, what makes financial planning impactful is its ability to adapt to each client’s needs and goals. The answer may often be “it depends.” Although, with a holistic understanding of a client’s life and ongoing communication, that answer becomes the foundation for tailored, effective, and evolving financial advice.

SSB Wealth Management, Inc., d/b/a Rembert Pendleton Jackson (“RPJ”) offers investment advisory services and is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability.  You should carefully read and review all information provided by RPJ, including Form ADV Part 1A, Part 2A brochure and all supplements, and Form CRS. 

This information is intended to be educational in nature, and not as a recommendation of any particular strategy, approach, product or concept. These materials are not intended as any form of substitute for individualized investment advice. The discussion is general in nature, and therefore not intended to recommend or endorse any asset class, security, or technical aspect of any security for the purpose of allowing a reader to use the approach on their own. You should not treat these materials as advice in relation to legal, taxation, or investment matters.