Financial planning in most simplest terms means , that a well qualified and empathetic financial planner would sit with a person, couple or a family and design their financial objectives.
The financial objectives would be based on the short term, mid term and long term goal which a family wants to achieve.
The resources available would be noted down by the financial planner in form of a questionnaire which would be given to the family to fill ,before the financial planner sit with the family, to start the discussion.
The questionnaire would consist of the income from salary or business, expenses- fixed and variable, inevestment done till date, protection plans taken to protect the family of any financial risk, will of the estate written, income taxes status,and retirement surplus status.
Along with this there would be a risk questionnaire also given which would help the financial planner understand the risk in the family.
once this initial meeting is done, the details would be analysed and a financial plan would be created. A copy of that would be send as an e-mailer to the family, so that it can review it before the final financial plan is created.
Once given a confirmation by the family, the financial plan is implemented, and is reviewd every 6 months and required if any big financial decisions have been taken in the family.
The financial objectives would be based on the short term, mid term and long term goal which a family wants to achieve.
The resources available would be noted down by the financial planner in form of a questionnaire which would be given to the family to fill ,before the financial planner sit with the family, to start the discussion.
The questionnaire would consist of the income from salary or business, expenses- fixed and variable, inevestment done till date, protection plans taken to protect the family of any financial risk, will of the estate written, income taxes status,and retirement surplus status.
Along with this there would be a risk questionnaire also given which would help the financial planner understand the risk in the family.
once this initial meeting is done, the details would be analysed and a financial plan would be created. A copy of that would be send as an e-mailer to the family, so that it can review it before the final financial plan is created.
Once given a confirmation by the family, the financial plan is implemented, and is reviewd every 6 months and required if any big financial decisions have been taken in the family.
No comments:
Post a Comment