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Comprehensive Financial Planning

Comprehensive Financial Planning

Financial Planning is a comprehensive evaluation of a client's current and future financial needs and results in a plan to achieve their financial goals. The scope of planning includes the following: Cash Management, Investment Planning, Retirement Planning, Risk Management, Estate Planning and Tax Planning.  Financial goals can include buying a home, saving for your child’s education or planning for retirement.  The financial planning process involves the following steps:  

·       Establishing the client-adviser relationship

·       Gathering relevant financial information and determining your goals and expectations

·       Analysing and evaluating your current financial status

·       Coming up with a financial strategy or plan for how you can meet your goals

·       Implementing the financial plan

·       Monitoring the success of the financial plan, adjusting it if necessary 

 

Using these steps, you can determine where you are now and what you may need in the future in order to reach your goals.

 

The Benefits of Financial Planning

All financial decisions are interlinked.  So choosing to save now for your children’s education could affect your ability to save for your retirement.  At Total Wealth we can help you stay on track towards achieving your financial goals.