Do You see yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That’s where Financial Planning comes in.

Financial Planning is a process that can help you reach your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources. “It is an exercise aimed at identifying all the financial needs of an individual, translating the needs into monetarily measurable goals at different times in the future and planning the financial investments that will allow the individual to provide for and satisfy his future financial need and achieve his life goals.”

Who is a Financial Planner?

  • Is a person who uses the financial planning process to help another person determine how to meet his or her life goals
  • Key functions of a FP is to help people identify their financial planning needs, priorities and the products that are most suitable to meet their needs.
  • Why is Financial Planning Important?
  • With a financial plan in place, you’ll be able to focus better on your goals and understand what it will take to reach them.
  • Financial plan will clearly show you how your financial goals are related-for example, how saving for your children’s college education might impact your ability to save for retirement.
  • You can prioritize your goals, implement specific strategies and choose suitable products or services.
  • You will have peace of mind that comes from knowing that your financial life is on track.
  • Financial Planning Areas
  • Investment Planning
  • Education Planning
  • Tax Planning
  • Retirement Planning
  • Insurance Planning
  • Estate Planning

Benefits of Financial Planning

* To Investor
– Provides direction and meaning to financial decisions
– Helps understand how decision in one area effects other areas
– Helps evaluate short and long term effects of decisions on one’s life goals

* To Planner
– Ability to establish long term relationships
– Ability to build a profitable business