Financial Planning

What is financial planning?
Manage your finance in a manner; you could be able to meet your life goals on time. Basically, buying a home, saving for education, managing debt or planning for retirement are our life goals that can be fulfilled by the following steps.

  • To know your financial data
  • Identifying your objectives
  • Knowing your financial position for improvement
  • Identifying recommended investments and risk on investments
  • Implementing all above with efficiency
  • Revise your plan for assurance

Where should I start to plan for the future?
There is no point of discussion, where should you start to plan for the future? You should start right-now whether you have enough financial sources or not. To judge the financial status and plan for the future, consider the following issues:

  • Budget
  • Insurance
  • A regular saving program
  • Wills and Enduring Powers of Attorney
  • Superannuation

Why do I need to see a financial planner?
In the emerging age, the superannuating, taxation and social security legislation is going to change constantly. Due to the uncertain changes, you can have the unforeseen penalty. A financial planner provides the consultation to finance your money and avoid the pitfall that comes on the way.

I'm going to take a full pension: do I need to see a financial planner?
It would be good to take the help of a financial planner. Although a pension is an invaluable foundation, it gives you the better output if it is managed properly. A financial planner knows your other resources, assets, future plans & your partner’s situation as well as taking care of it so that he can develop a strategy to manage your retirement lifestyle.

When should I see a financial planner?
So many situations are there when you should see a financial planner like:

  • Receive a huge sum of money
  • Facing considerable transformation in your circumstances
  • looking to increase your investment portfolio
  • starting or running a business

How do I choose a financial planner?
You can choose a financial planner in the same way you choose a doctor, accountant or anyone who provides services. You can check the experience & credentials and compare with other financial planner. You should choose a financial planner that can understand your needs and requirement. You can also review the past performance of a financial planner and judge him with ease.

I want to find out more about salary sacrifice. Should I see a financial planner?
Yes, you should consult a financial planner. He can give you the right advice about salary sacrifice. First of all, you should explore your number of avenues and then discuss your situation.

My pension will exceed my income requirements. Is there any reason to see a financial planner?
A financial planner evaluates every single possible situation that can arise in the future. The Need for income in retirement is one of the situations that can be handled easily if you properly manage your finance. Sometimes, taxation and social security rules affect your retirement strategy.

How do you go about choosing a Financial Advisor?
Some simple point can help you a lot in choosing a Financial Advisor.

  • Know the specific field of Financial Advisor otherwise contact to a comprehensive financial plan.
  • Have you licensed your financial advisor?
  • Financial Advisor should be qualified and experienced.
  • What about ethics?
  • Talk to other clients of advisor
  • Measure the other clients’ portfolio how much they invest by him.
  • Know about his services
  • Know more about him by conversation
  • Ask your query without hesitation because you are going to invest your money.
  • Get every thing in writing

What is the role of a Financial Planner?
The role of a Financial Planner is as follows

  • Improving your household financial plan
  • Reducing your debts and taxes
  • Helping you save for something special
  • Caring for those who are important to you
  • Helping you to buy or renovate a home, paying it off or investing in property
  • Making a way for change in life
  • Preparing for a comfortable retirement
  • Making the most of your retirement income and any government payments.

What is the Financial Planning Process?
Follow the following steps to process the Financial Planning


  • • Set up the client-planner relationship
  • • Collect all the documents of client and know the goal
  • • Evaluate the documents and analyze their financial status
  • • Developing and presenting financial planning recommendations and/or alternatives
  • • Implement the planning recommendation
  • • Observe the success of financial planning recommendations

What are Practice Standards?
Practice Standards are created to understand and implement the procedure of financial planning. These standards also explain what is expected of a CFP practitioner and are to be adhered to when providing financial planning advice .It is based on the six-step financial planning process:


  • Establishing and defining the client-planner relationship
  • Gathering client data including goals
  • Analyzing and evaluating the client’s financial status
  • Developing and presenting financial planning recommendations and/or alternatives
  • Implementing the financial planning recommendations
  • Monitoring the financial planning recommendations                Top