What is holistic financial planning?

Norm Boone / Feb 16, 2018 / Financial Planning


When you’re trying to lose weight, you quickly learn that no single health change is going to get the job done.

If you focus on nutrition but forgo exercise, you won’t reach your goal. (You might reach it, but you are not likely to maintain it or improve upon it.)

Likewise, you can exercise aggressively, but if you don’t get enough sleep or fail to drink enough water, your weight loss efforts will be thwarted.

All aspects of your physical health have to get attention, working together holistically, to help you achieve your ultimate goal.

At Mosaic, we believe financial planning works similarly.


All parts working together

In order to achieve financial health, you need a holistic management approach that addresses spending and saving, investment management, debt management, insurance, taxes, estate planning, employee and government benefits, and every other aspect of your overall financial status.

A holistic approach to anything means considering and integrating all aspects of the thing together, instead of handling each one individually.

The origin of the term “holistic” is the Greek word “holos,” which translates to “whole.”

The concept is equally relevant to personal health, business management, markets, and financial planning.

Holistic financial planning is rooted in two fundamental truths: Everyone has their own unique sets of needs and best solutions, and each aspect of a family’s personal finances needs to be considered both on its own and in how changes in that one place will impact every other aspect.

Holistic financial planning considers how the varied aspects of financial well-being are intertwined—and how they should work together—to help a client achieve his or her financial goals.


Holistic financial planning considerations

Too many people focus on just one or two aspects of their overall financial circumstance.

For example, they might have poured all their money into retirement savings, while failing to consider the tax implications of their investments.

They may have worked hard at eliminating debt but forgot to also build an emergency fund. 

Or they may have focused on minimizing their tax burdens but overlooked the need for diversifying their sources of retirement income.

Because holistic financial planning considers all aspects of an individual client’s unique financial well-being, it must also, by definition, be a fully customized approach to wealth management.


Holistic financial planning venn diagram.png

Mosaic Financial Partners achieves this customization through detailed conversations and personal relationships with clients; our purpose is to help you understand your current financial situation, refine your goals, and identify tactics and opportunities that will move you closer toward achieving those goals.

We’re here to make sure your overall financial health is on track.


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Topics: Financial Planning