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FAQs

Good advice from an experienced, well-informed adviser can help people save money, protect against risk, manage debts, grow assets, reduce tax liabilities, plan for retirement, identify entitlements for government benefits, and plan what inheritance is to be left to the next generation.

What is financial planning?

Financial planning is nothing but determines how you can meet your life goals through the proper management of your personal financial affairs. Key to effective financial planning is the ability to consider your ins and outs of financial situation, and to identify and analyze the interrelationships among sometimes conflicting objectives. It is the combination of both knowledge and skills across a broad range of topics that distinguishes professional financial planning from other related financial advice.

Why is Financial planning important?

Need :- Because you have critical needs-such as financial independence, wealth accumulation, the welfare of your family, the education of children and grandchildren, lifestyle maintenance, and retirement-so a single solution won't work.

Results :- Because you must meet your needs, and planning is essential to the success of any important, long-term undertaking.

Cost :-Because the cost of not planning is far higher than planning cost. Even the costs along the way-for investments, insurance, taxes, and other financial necessities are less with planning than without.

What does the letters 'CFPCM' mean?

The letters "CFPCM stand for CERTIFIED FINANCIAL PLANNERCM. The CFPCM marks identify individuals who are dedicated to the highest level of professionalism in providing financial planning advice. The CFPCM designation assures that the planner adheres to internationally recognized professional standards of competence and ethical practice as set in India by the not-for-profit Financial Planning Standards Board India, CFPCM professional standards include requirements in education, examination, experience and ethics – commonly known as the 4Es of professionalism.

Who is qualified to offer financial planning advice?

A CFPCM professional is an individual who has a demonstrated level of financial planning technical knowledge, experience in the field and holds to a client-centered code of ethics.

How does it work?

  1. Gathering your financial data
  2. Identifying your goals and objectives
  3. Identifying any financial status - or deficiencies between where you are now financially and where you want to be. Considering your attitude towards risk (Risk Profile)
  4. Writing your financial plan
  5. Implementing your financial plan into action
  6. Reviewing and revising your plan
  7. Servicing on your investments:
  8. tracking/mapping of existing investments
  9. information about proposed performing assets or investment one instead of existing old poor performing or non performing assets or investments.
  10. investment portfolio valuations and reviews
  11. ongoing consultations as required
What should one know before hiring a planner?

When you are searching for a financial advisor, what you are looking for is a Chief Financial Officer to help you run your family's financial affairs. Do they offer only investment and portfolio management advice on securities (stock, mutual funds, bonds, etc.) or do they do comprehensive planning? This includes Goal Setting, Cash Management, Tax Planning, Education Funding, Retirement Planning, Protections Planning (medical, life, disability, long term care, and property/casualty), and Estate Planning. It is nice to work with someone who is going to help you with get to your goals in life. Make sure the experience is relevant and they are up front with the information and finally Qualification does matter. A CFPCM professional can assist you in selecting the most robust financial instruments that can help you in achieving your financial goals.

How much does it cost and how does one get charged?

Get the compensation structure of your Financial Planner up front. Nothing is free and people do not work for free. Upfront fees are direct fees, which is visible. If you consult with a financial planner before you purchase any financial products and make plan for you and according to financial plan even you buy financial products from bank or agent you can save time and money both.