master your financial future with expert planning
What is Financial Planning?
the importance of financial planning
Financial planning is a systematic approach to managing your financial resources to achieve your life goals. It involves creating a comprehensive strategy that encompasses budgeting, saving, investing, and managing risks. By aligning your financial decisions with your objectives, financial planning helps you make informed choices, ensuring that you can meet your short-term and long-term financial goals efficiently.
Effective financial planning is crucial as it provides a roadmap for your financial journey. It helps you understand your current financial status, identify potential challenges, and develop strategies to overcome them. With a well-structured financial plan, you can optimize your resources, reduce financial stress, and secure a stable financial future for yourself and your family.
the 6-step financial planning process
1
Establishing and Defining Your Relationship
The adviser will explain the financial planning process, services offered, and their qualifications. You will agree on focus areas based on your needs, culminating in a written agreement.
2
Collecting Your Financial Information
Your adviser will gather detailed information about your financial situation, objectives, and priorities to tailor their recommendations.
3
Analysis and Assessment of Your Financial Status
The adviser will analyse your financial information to understand your current situation, identifying strengths and weaknesses relative to your goals.
4
Financial planning recommendations
The adviser then considers one or more strategies relevant to your current situation that could meet your objectives, needs and priorities.
5
Implementing the financial plan recommendations.
ou and your advisor will agree on who will handle the implementation. You’ll need to agree to the recommendations to proceed, which may involve obtaining specific products or services.
6
Review the client’s situation.
Finally, you and your advisor will agree on how often to review and update your plan, considering changes in goals, risk profile, and lifestyle, to keep you on track to meet your financial objectives.
start your financial journey today
Take the first step towards a secure financial future with envestpro. Our complimentary Financial Wellness Checkup is designed to understand your unique financial landscape and aspirations. Let us craft a tailored plan to guide you towards financial success. Contact us now.
The fine print
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All envestpro group affiliates that provide financial services are fully authorised under the FAIS Act. Any legal, technical, or product information provided here should not be interpreted as advice
from envestpro. No guarantees, warranties, or commitments, whether explicit or implied, are made, and envestpro assumes no responsibility or liability..