A financial plan is a working document that can be as flexible or as focused as you want it to be. Advisers, for example, usually ask to see recent income tax forms, a summary of your investments, information on your retirement plan, and your life insurance policies.
Some advisers develop a detailed written plan, also called a personal financial analysis.
The document summarizes the information you've provided, includes an overview of various financial planning strategies, and recommends specific investments or other steps you should take to achieve your objectives. If you prefer, you can request a simpler approach, and receive a letter summarizing the goals you're working toward, the approach to investing you want to take, and the type of investments the adviser recommends. If you're looking for a financial adviser, you'll want to set up some criteria to help you evaluate the people you may work with. Experts suggest that ten years of experience isn't too much to expect, especially if you're new to investing. You'll want to work with an adviser who has a strong reputation in the field, either as an individual or as an employee of a respected company.