Financial Planning Process:
Every Human being is unique and so are their needs. Hence a comprehensive goal-based
planning approach takes into consideration the holistic view of one's economic situation:
current investments, risk profile, age, number of dependents, assets & liabilities
and so on.
Generating your Risk Profile: Our research-backed evaluation method helps us generate
the individual's unique Risk profile.
Assessment of current financial situation and identification of gaps, if any, in
your current asset allocation.
Establish financial goals – like buying a house/car, education, marriage, retirement.
Create and implement a customized and integrated financial plan to fulfill the objectives.
Also develop alternatives.
Review the plan periodically and make changes whenever necessary.
Why Financial Planning?
No matter which income bracket one falls in, it is important to plan one's finances
in order to make best use of one's money to reap long term benefits and reach goals
through the assets in hand. Each financial decision one makes can affect several
other areas too. Every decision regarding our finances needs to be monitored through
a proper plan drawn in advance.
The following points explain why financial planning
Improving one's Financial Position: A strong capital base can be built with the
help of efficient financial planning. A well thought out investment strategy can
multiply one's wealth.
Better Income Management: It is possible to manage income effectively through planning.
Managing income helps in segregating it into tax payments, tax savings, other monthly
expenditures and savings.
Goal-Based Investment:A proper financial plan that considers the income and expenditure
of a person, helps in choosing the right investment strategy and asset allocation.
It enables the person to reach the desired goals.
Standard of Living:A proper financial plan acts as a guard in unexpected or unfortunate
situations and enables the family to survive hard times.
Inflation: Developing countries like India tend to have high inflation. It is important
that savings keep pace with inflation.
Problem of too many choices: In today's world, investors tend to get confused because
of too many competing investment products to choose from.
Busy lifestyle: Often people need professional management services along with regular
monitoring because they find it difficult to spare time.
Social & Demographic Shift : Increasing number of nuclear families indicates that
more often now than it used to be, people need to provide themselves for their post-retirement
expenses like hospital bills etc.
Retirement planning has assumed unprecedented significance. With rising life expectancies,
people need to save for more number of years for the post-retirement stage.
Factors to consider while choosing a Financial Planner
Professional experience and background.
Range of products/services offered
Infrastructure and Technology
Ethical standards and Code of Conduct
Best-in-class Research Capability