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Financial Planning

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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.

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Need Of Financial Planning

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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.

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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.

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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.

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Services Offered

• Insurance Planning• Retirement Planning• Tax Planning• Investment Planning• Estate Planning

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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.

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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.

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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.

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9650901058marcom@elitewealth.in

http://www.elitewealth.in