Financial plan writing is just the beginning of the ultimate process.
Financial Planning’s first objective is to make your life worries free and more enjoyable by making optimum use of the available resources so that you don’t have to remain always occupied with meeting various financial needs at different stages of life. Financial Planning basically is a process to put a system in place that over a period of time will automatically take care of various financial requirements.
Why do we need a doctor ? In the same way we need a Financial Planner as every financial profile is different from others, every risk profile is different, family values are different, Goals and responsibilities are different…so every financial plan is different. Moreover, it depends on the complexities you have already brought or are planning to bring into your personal finances which will decide the complex structure of the financial plan. You may copy other people’s plans but you won’t be able to bring in the value which is a financial planner’s job. A professional will put your system in place and by reviewing it periodically will also ensure that it stays on course and effectively works.
From our experience we have seen that after retirement Financial Planning becomes all the more important as our financial requirements do not cease to exist with our retirement just the nature of financial requirements change.
For example after retirement our focus shifts from wealth accumulation to wealth preservation. Creation of will and Succession planning are also important aspects of Financial Planning but unfortunately it is seen that we give importance to these aspects only after retirement. Making sufficient financial arrangements for the spouse after the death of other spouse is another aspect that makes financial planning a must have for the retirees.
To be honest this question of yours will be answered over a period of time as we at NAPHJAS firmly believe that Trust cannot be imposed, it is earned. We follow highly ethical practices and give top most priority to Integrity and other moral values. We believe in Client First Approach and we assure you that we will work together until one of us exists, i.e. we will work together right till the end. What services we provide can only be experienced and we assure you that you will have an amazing experience of your financial journey with us. All our advisory is based on logic and hard facts, our endeavor is always to make our clients financially aware and make them understand the financial planning process.
If you don’t have surplus to invest then perhaps you are the person who needs Financial Planning most of all. Financial Planning does not always mean that you need to start investing right now. Sometimes by just giving a right direction to your existing assets and investments can serve the purpose. If you don’t have an investible surplus right now, you will at least know what you actually need to achieve and keeping that in mind you can work on it. Financial Planning is a process to establish a system in place that over a period of time automatically takes care of your financial needs.
We at NAPHJAS are firm believers of selfless giving, but it doesn’t mean at all that we are not making money from our clients but at the same time for us the interest of our Clients is of the top priority. We believe that income is just the by-product. What really matters for us is the amount of positive change we are able to bring into the life of our clients. We get income from basically two modes –
1. Direct Fees from our clients
2. Incentive for promoting certain products
But at the same time it is essential to make clear that we will clearly disclose to our clients what we get by giving certain products to them. We also advise certain products that give us Zero incentive that clearly shows that client interest matters nothing else.
No financial Planning is not a one time activity rather it’s a continuous ongoing process. We can understand in a better way as our financial condition keeps on changing so do our financial requirements. At times our financial goals need to be realigned. Therefore the Financial Plan needs to be reviewed periodically however its not necessary to make changes every time, it depends solely on the Financial Situation of the client at the time of review.
No doctor guarantees that the patient will get cured with the medicines he’s prescribing. Moreover he gets the declaration signed from the patient or his relatives that he will not be held responsible if the patient dies in the operation theatre. But does that mean, one should not undergo the treatment? So is with Advocates, they never guarantee that they will win this case for you, but they assure you that they will do their best.
Financial planning is a common sense approach to managing your finances to reach your life goals. It cannot change your situation overnight; it is a lifelong process. Remember that events beyond your control such as inflation or changes in the stock market or interest rates will affect your financial planning results. But at the same time one thing to keep in mind is that Financial Planning also involves risk management. Life is all about taking calculated risks.
Yes you can rely on us. We don’t share your data with anyone else. However while getting certain products for our clients sometimes it becomes essential to share the data with third parties but rest assured that we take prior approval from our clients. All our Site Servers are SSL secured.
The very first step is to open up your mind and convince yourself that you really want to do it. Mail us at [email protected] to schedule your “get acquainted “ meeting. We also provide a free Financial Health Check Up to first 50 Enquiries every month.
Hope the above mentioned Financial Planning FAQs will clear your doubts on what financial planning and Financial planner is all about. But still if you have some more queries on this subject you can mail us at [email protected]