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Financial Planning > Overview


Planning for future financial security is an increasingly important aspect of all our lives. The key is doing it successfully. That requires wisdom and experience. It also means taking a balanced approach to the issue of investing. The financial planning process involves assessing your current situation and setting financial and personal goals before implementing financial decisions. It is absolutely imperative to have written financial and retirement goals which are reviewed and monitored on an ongoing basis.

Financial planning is an ongoing process. Your financial profile is your lifestyle, risk tolerance, responsibilities, and all financial resources. Ineffective financial planning could result in the hardship of a lower monthly income to live on during retirement, higher income tax burdens and fewer resources to pass on to heirs.

The advice of a professional who uses the six steps financial planning process will enable you to make intelligent financial decisions.

The Financial Planning Process will enable us to:

  1. Clarify your current situation by assembling all relevant personal and financial data.
  2. Identify both financial and personal goals, assess your current financial position and determine your attitude towards risk.
  3. Identify financial barriers that stand in the way of reaching those goals.
  4. Develop a financial plan structured to meet your needs and goals. These recommendations will be formalised in a written financial plan, which will be presented to you.
  5. During the presentation we will discuss the recommendation strategy to obtain your approval. Implement your comprehensive financial plan.
  6. Periodically review and revise your plan as your personal situation and economic condition change, ensure that it continues to serve your needs.

There are five basic questions requiring answers prior to placing investments:

  1. What is the time factor; how long will it be invested? How will it be divested?
  2. What return can be achieved; or averaged; what are the guarantees?
  3. How cashable is the investment; is liquidity necessary; is it creditor proof from seizure?
  4. What are the estate and tax implications; will it save taxes?
  5. What are the risk implications; can the investment be lost; what is the volatility?

Once these and other questions are answered, we can assist our clients in carefully selecting the appropriate investment, thereby insuring that the client's needs are effectively met.

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