It is the process of meeting your financial goals through the proper management of your finances. Financial goals can include buying a home, savings for your child’s education, planning for your retirement or estate planning.
We help you to work out on where you are now, what you may need in the future and what you must do to reach your goal by the process that involves gathering relevant financial information, setting financial goals, examining your current financial status and coming up with a strategy for a plan on how you can meet your goals and map the gap.
Financial planning provides direction and meaning to financial decisions. It allows the client to understand how each financial decision they make affect other areas of their finances.
For eg. Buying a particular investment product might help them pay off their mortgage faster or it might delay the retirement significantly. By viewing each financial decision as part of the whole, the client can consider its short term and long term effects on their life goals. The client can also adapt more easily to life changes and feel more secure that their goals are on track.
Our approach to financial planning is simple and straightforward. However, it is also important that you fully understand our consultative process and our step by step approach.
This is the first stage of our interaction. It involves evaluating your current situation which includes cash flow analysis, calculating your net worth, reviewing your insurance coverage for life, disability, home, auto, health etc.
We then go about clearly establishing the objectives of the financial plan so that, several goals can be balanced. The goals could be short, medium or long-term and could include child’s education, marriage, your retirement etc.
We then work out a clear strategy in line with your objectives and risk tolerance. Drawing up a winning asset allocation so that your financial goals are met is fundamental to a successful plan.
We will assist you in the process of implementing the plan by suggesting the optimal mix of products and services that are essential for the success of the plan.
Once the plan is implemented we will monitor the progress on an on-going basis. We will periodically report the progress and measure the results achieved vis-à-vis the plan.
Financial planning is a dynamic process. We will annually review the plan and progress made, to see if any modifications are required due to changes like inheritance, change in job status, birth or death in the family etc.