financial planning
DESCRIPTION
Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That’s where financial planning comes in.For any query, Call us 9650901058/011-40000919TRANSCRIPT
http://www.elitewealth.in
Financial Planning
http://www.elitewealth.in
What is Financial Planning? • Financial Planning is the process of meeting your life goals
through the proper management of your finances.
• Financial planning is a client-focused process for helping the client achieve his or her financial goals.
• Financial planning can help assess every aspect of your financial life—including saving, investments, insurance, taxes, retirement, and estate planning.
http://www.elitewealth.in
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http://www.elitewealth.in
Need Of Financial Planning
http://www.elitewealth.in
What does Finance Planning Entail?• Sharing your Life Goals, values and philosophies about
money and finance with your planner. • Cultivating a relationship with your planner based upon
natural trust and respect.• Determining your net worth by identifying all of your
assets and liabilities. • Gathering detailed information about your daily, monthly
and yearly expenditures.• Constructing a cash flow statement based on your
income and expenses.• Analyzing your spending habits and developing a
workable budget that you can sock to.
http://www.elitewealth.in
Continue..• Gathering and Analyzing Financial statements from
banks and brokerages, estate documents insurance policies real estate holdings and employee benefits plans.
• Discussing various life planning assumptions identify short & long term goals then mapping out various paths to take to realize those goals based upon these assumptions.
• At all times during this process, your planner will be acting as a fiduciary agent for you- your best interest will always be paramount.
http://www.elitewealth.in
Financial Planning Process
Establish a Client – Advisor
relationship & define
the scope of services.
Analyse the Risk
Appetite and
Current’s Financial Health of
the Client.
Understand the Client’s Life Goals.
Develop appropriate strategies to achieve the Goals.
Discuss the strategies with the
client and select
appropriate strategy
Submit the recommend
ations to the client.
http://www.elitewealth.in
Services Offered
• Insurance Planning• Retirement Planning• Tax Planning• Investment Planning• Estate Planning
http://www.elitewealth.in
Financial Planner• financial planner is someone who uses the financial planning
process to help you figure out how to meet your life goals.
• The planner can take a “big picture” view of your financial situation and make financial planning recommendations that are right for you.
• The planner can look at all of your needs including budgeting and saving, taxes, investments, insurance & retirement planning.
http://www.elitewealth.in
Financial Planner –Thumb Rules
Aggressive Investors should hold stocks, Conservative Investors should hold bonds.
Long-term Investors can afford to take more stock market risk than short – term investors.
http://www.elitewealth.in
Do I Really Need a Financial Planner?
• Yes, You need expertise you don't possess in certain areas of your finances. For example, a Planner can help you evaluate the level of risk in your investment portfolio or adjust your retirement plan due to changing family circumstances.
• You want to get a professional opinion about the Financial Plan you developed yourself.
• You have an immediate need or unexpected life event such as a birth, inheritance or major illness.
• You feel that a professional Advisor could help you improve on how you are currently managing your finances.
• You know that you need to improve your current financial situation but don't know where to start.
