But I must explain to you how all this mistaken idea of
denouncing pleasure and
praising pain
was born and will give you a complete account of the system and expound the actual teachings
of the great
explore
Establish and Define the Client-Planner Relationship
Describes the scope of work to be done and the terms on which it would be done.
Gather Client Data, Including Goals
The future needs of a client require clear definition in terms of how much money will be needed and when. This is the process of defining a financial goal.
Analyse and Evaluate Financial Status
The current financial position of a client needs to be understood to make an assessment of income, expenses, assets and liabilities. The ability to save for a goal and choose appropriate investment vehicles depends on the current financial status.
Develop and Present Financial Planning Recommendations
The planner makes an assessment of what is already there, and what is needed in the future and recommends a Plan of action. This may include augmenting income, controlling expenses, reallocating assets, managing liabilities and following a saving and investment plan for the future.
Implement and Monitoring the Financial Planning Recommendations
This involves executing the plan and completing the necessary procedure and paperwork for implementing the decisions taken with the client.
Monitor the Financial Planning Recommendations
The financial situation of a client can change over time and the performance of the chosen investments may require review. A planner monitors the plan to ensure it remains aligned to the goals and is working as planned and makes revisions as may be required.
