Going through the process of Financial Planning together, we chart out your Financial Plan and convert your dreams into realities. We take our clients through the 6-Step process of Financial Planning which helps us maintain life long relationships:
Step 1
Establishing the Client-Planner relationship
We start off by explaining our Financial Planning Services and ascertain the specific services you may need. Then go on to define both Planner’s and your responsibilities. It is every important to understand each other to avoid any conflicts of interest in the future. We are open to disclosing and explaining our remuneration structure in detail and encourage our prospective clients to free share their current financial situation and goals & dreams with us.
Step 2
Collecting Client Data & Goals
The Financial Planner helps you define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. The Financial Planner gathers all the necessary documents and information required to completely understand your financial situation. Based on your profile and requirements, we give you a fee quotation for planning services.
Step 3
Analyzing the Client’s Financial Status
The Financial Planner analyzes your information to assess your current situation and apply Financial Planning concepts towards meeting your goals. Depending on what services you may have asked for, this could include analyzing your assets, liabilities, income, expenses, cash flow, current insurance coverage, salary structure, investments, tax strategies etc. Various Financial Planning strategies are applied to analyze the various aspects of your personal finance.
Step 4
Developing & Presenting Financial Planning Recommendations
Based on analysis and application of Financial Planning concepts, you Financial Planner will recommend Financial Strategies which will help you meet you goals and dreams. The Planner presents a comprehensive Financial Plan along with the recommendations and implementation action plan and goes through them along with you to help you understand them so that you make informed decisions. The Planner also listens to your concerns and revises the recommendations as appropriate.
Step 5
Implementing the Financial Plan Recommendations
Planning without action is futile exercise. With the Financial Plan drafted by a professional, you are just a step away to execute your plan and start your journey to Financial Freedom. You and the Planner should agree on how and when the recommendations will be carried out. The Planner will guide you to implement the specific action points by suggesting financial products and coordinating the whole process with you and other professionals such as CAs, lawyers or stockbrokers.
Step 6
Monitor & Review the Financial Plan
The real success of the plan lies not just in good recommendations but on achievement of the desired outcomes from following those recommendations. We live in a dynamic world with constant changes in economic environment, change of goals, launch of new financial instruments etc. A Financial Plan needs to be monitored, reviewed and aligned to these changes on an ongoing basis. We monitor and review your Financial Plans and periodically report the status so that you take informed decisions.
