The benefit of Financial Planning

Establishing & defining the* client – planner relationship. * To document the services to be provided * Define the responsibilities for both * To explain fully how he will paid & by whom To disclosed *any restriction on his ab*ility to give unbiased advice disclose any conflict of Interest 2) Gathering client data including goals * To collect all relevant information *about financial situation. Fine your personal & financi*al goals * T*o under*stand the time frame for relevant * To understand the *To mutually * To gather all the necessary doc meets before give the advice 3) Analyzing & evaluating your financial status * To analyze the information of your Assets, Liabilities, Cash flow, current Insurance coverage, investments & tax strategies. 4) Presenting the financial planning recommen*dation and/or alteration.

To offer financial pla*nning reco*mm*endatio*n that address your goals *your concerns & review the recommendation as appropriate *5) Implementing the financial planning recommendations * Both to agree on how the recommendation will be carried out. Planner can carry out the recommendation hims*elf * Or serve as a coach coordinating the whole pro*cess 6) Monitoring the fina*ncial planning recommendation * To review & monitor periodically * To adjust the recommendation as life changes 5.

The benefit of Financi*al Planning * To listen to * The * Financial Planning produce direction & mea*ning to your financial session * It allow you to understand how each financial decis*ion affects other areas of your finance * You can adopt more easily to life change & feel more secure that your goal 6.

How to make financial planning work We need to address the following advice * Set me*asurable Goals Set specific targets of what you want to achieve and when you want to achieve result * Unders*tand the effect of each financial decision Each financial decision you make can affect several other areas of life* To remember that all your financial decision are inter related * Reevaluate your financial situation periodically Financial Planning is a dynamic process Financial goals may change over the year due to changes in your lifestyles or circumstances such as inheritance, *marriage, birth, house purchase or change in job status.*

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The benefit of Financial Planning. (2018, Jun 05). Retrieved from