Spend, Save and Invest Smartly

Steps to be Taken by a Financial Planner



While taking care of the client’s investments a financial planner has to give importance to many factors that helps to safeguard his client’s interest. Following are the major steps to be followed by a financial planner.

  • Step 1: Setting goals with the client is the first step, this step is meant to identify where the client wants to go in terms of his finances and life.
  • Step 2: Gathering relevant information on the client. This should include the qualitative and quantitative aspects of the client's financial and relevant non-financial position.
  • Step 3: Analyzing the information. The information gathered must be clearly analyzed so that the client's situation is properly understood. This includes determining whether there are sufficient resources to reach the client's goals and what those resources are.
  • Step 4: Constructing a financial plan based on the understanding of what the client wants in the future and by considering his current financial status, a roadmap to the client goals is drawn to make easy the achievements of those goals.
  • Step 5: Implementing the strategies in the plan guided by the financial plan, the strategies mentioned in the plan are implemented using the resources allocated for the purpose.
  • Step 6: Monitoring implementation and reviewing the plan. The implementation process should be closely monitored to ensure it stays in alignment to the client's goals. Periodic reviews are undertaken to check for misalignment and changes in the client's circumstances. If there is any significant change to the client's situation, the strategies and goals in the financial plan will be revised accordingly.
Financial Planning
Tax Planning
Investment Planning