We believe in the Financial Planning process. This is the process of identifying goals, gathering and reviewing financial data and designing and implementing a financial plan to help you reach your goals. It is a lifelong process. Once the plan is in place, it needs to be monitored, reviewed, and updated to meet dynamic circumstances. Not everyone needs to have a written comprehensive financial plan. Everyone, however, can benefit from the financial planning process.
Financial Planning simply put is planning for the future. It is preparing oneself and one’s family for future events like child education, retirement, child marriage, wealth creation, life security and so on.
It is planning for uncertain events with some degree of certainty by taking factors like interest rates, inflation, taxation, cash flows, current expenses and lifestyle into consideration.After which, a Financial Planner, recommends the best possible allocation of existing and future resources to help meet future goals.
Financial Planning is a lengthy and ongoing process.
It takes into consideration, investment management, risk management, retirement planning, tax planning, cash flows present and future and estate planning, and since these factors are subject to change, with changing policies, environment, the financial plan, needs to be reviewed on a regular basis.
Have you planned for –
- Retirement after considering inflation at the time of investing and at the time of receiving regular inflows and taxation at the time of both saving and receiving regular income.
- Increased medical expenses at retirement.
- Your child’s education, after consideration of inflation at today’s value terms.
- Your child’s marriage expenses.
- The dream home you wanted to purchase five years from today.
- The car you wanted to buy.
- The wealth you wanted to create for closing liabilities and for a rainy day.
- The estate you wanted to leave behind for your wife and kids.
What’s Covered in a Comprehensive Financial Plan
After an extensive data gathering exercise and analysis on your current finances, we will prepare a tailor-made, to-the-point and easy to understand financial planning report which will show you where you stand today, where you would like to go and how can you accomplish this journey. The contents of the financial plan will on the following lines:
Executive Summary & Action Plan
- Articulation of Client Goals & Objectives
- Map of Fulfilling Goals with Current Assets & Future Investments
- Representations of Key Figures in graphs and with mind maps
- Recommendations & Action Plan on all aspects of Client’s Personal Finances
Consolidation & Analysis of Current Financials
- Family Details, Plan Assumptions & Logics
- Networth Statement (Personal Balance Sheet)
- Current Inflow Outflow Statement
- Analysis of Current Debt Instruments.
- Analysis of Current Life Insurance Policies
- Analysis of Current General Insurance Policies
- Analysis of Current Mutual Funds without specific scheme recommendation
- Analysis of Current Equity Shares without specific scheme recommendation
Planning, Strategy & Recommendation for Future Goals
- Contingency Fund Planning
- Life Insurance Need Analysis
- General Insurance Need Analysis
- Children’s Future Planning (Education & Marriage)
- Retirement Planning
- House Purchase Planning
- Car Purchase Planning
- International Vacation Planning
- Any other goals of client and family
On-going Implementation, Monitoring & Renewal Service Offerings at a fee
- Recommendation of Specific Products to invest/buy based on Action Plan
- Recommendation/Referral for most convenient & economical way to buy/invest
- Guidance with Organizing Data, Documents, Investments & Portfolio Online
- Limited Guidance with Will Preparation & Tax Filing Preparation
- Regular mails/newsletter to update on developments affecting Client’s Financial Plan and Portfolio
- Portfolio analysis and monitoring with related reports on capital gains, unrealised gains etc.
- KYC and nominee checks with documentation.
- After 1 Year – Data Gathering Meeting for Goal Review.
- Recheck Client Goals, Changes in Financials, Revisit Assumptions etc
All the above questions can be answered by a trust worthy and competent financial planner.
For more details contact us