Comprehensive Financial Planning

Definition of Financial Planning

Financial planning is the process of examining a client’s personal situations, financial resources, financial problems in a comprehensive manner, developing an impartial, integrated plan to utilize the resource to meet objective and solve problem, taking the step to implement that plan once approved by the client, and monitoring the plan performance to take corrective action as necessary to assure that results match the plan projections.

Financial planning process Mumbai

Six Steps in the Financial Planning Process

  • Establishing relationship
  • Gathering client data and identifying goals
  • Analyzing and evaluating financial status
  • Developing and implementing the financial planning
  • Report financial recommendations
  • Review proposed plan

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