Service 1
- What is Financial Planning
Financial Planning is the process of meeting your life goals through the proper management of your finances.
The Financial Planning process consists of six steps:-
i. Define the relationship between client and adviser
ii. Gather client data including goals
iii. Analyse and evaluate your financial status
iv. Develop and present recommendations and alternatives
v. Implement
vi. Monitor
- The Financial Planning Process
i. Fact Find
The Adviser needs to have the full picture in order to give the right advice. We ask our clients to complete a Fact Find, and Expenditure Questionnaire.
ii. 'Truth' Financial Planning Programme
We enter the data into a programme which has been developed by professionals over more than 20 years. This gives a picture of your position in 5, 10, 15 years and projects forward to the latest stages of life.
- The Financial Plan
i. The Plan will show the client's projected cashflow, and the implication from 'What If' scenarios. The adviser will discuss these options with the client and agree what action to take.
ii. The plan usually identifies one of three situations:-
o Not enough cash - agree accumulation & savings plan
o Too much cash - make your dreams come true now, protect your wealth
o Just enough cash - peace of mind, choose how to shape the future
iii. The Plan will include advice in the following areas:-
o Risk Management and Protection of Family and Business
o Pre-retirement saving
o Post-retirement income
o Lifestage events - property purchase, school fee plans
o Director & Shareholder remuneration
o Estate Planning
o Tax reduction