The following financial plan is based on the information given by the client with regard to her financial needs and objective.
This financial plan is been made to help in the analysis of the client’s current financial position, in order to identify the potential area of concerns. Although precautions are been taken to guarantee the correctness of the areas of the documents, it should be assumed that the various forecasts are based on number of assumptions, and as such it is unlikely that it would occur in future exactly same as demonstrated. The life insurance and other various financial instrument values as predicted in the financial plan should not be assumed as guarantee of future performance. The accompanying data and assumption can be change with time .The financial plan is intended to facilitate you the applicable course of action, which should be reviewed and revised on regular intervals to ensure its importance to your changing financial position. Performance may vary over time.
The result is based on your representation of risk and includes information you provided on risk tolerance questionnaire. You are responsible for confirming the answers you provided to determine your individual risk tolerance used in this financial plan .The assets allocation is made on the basis of your answer that you provided on risk tolerance questionnaire. The financial plan does not reflect the choice of distinctive securities; the financial plan specifies model portfolios.
In the financial plan the asset classes and return rates used are comprehensive. The designs are not analytical of the forthcoming performance of real investments, which will change over time and may incur loss. Refer to the Asset Allocation section of this report for details on return rate assumptions used throughout this plan.
Along with wide profits there are various risking associated with investment, including the risk of loosing all or a small amount of your initial investment.
INTRODUCTION: FINANCIAL PLAN FOR FUTURE NEEDS
Why to plan for Future Financial need? By implementing a financial plan, you and your family:
Will have a superior comprehension of your current money related circumstance.
Determine achievable retirement, awareness, protection, and other financial objectives. Review objectives, Funding stratagems, and plan B where objectives must be negotiated.
Have the fundamental money related assets put aside to fund your objectives as they arise.
Reduce the impact of surprising occasions for example incapacity, unexpected passing, etc.
Planning is a life-long journey.
For the planning methodology to be successful, changing circumstances or life stage prerequisites must be factored in. Financial planner (investment advisor) will want to know when personal or monetary occasions occur, foreseen or not, to clarify whether your objectives are influenced and if there are new decision needed.
When do we review the plan?
While basically having a plan will provide you a superior knowledge of your financial state, routinely reviewed and update is necessary, the probability of attaining to the required results is greatly enhanced. A portion of the occasions for which you may need to audit your methodologies are: changes in your profession status, Conjugal circumstance, and the prosperity of your friends and family. “Financial planning process” is an on-going process, which requires a regular Analyzing and evaluating the client’s current financial status on interval basis and Developing and presenting recommendations and/or alternatives.
BASIC PERSONAL INFORMATION OF CLIENT
Letter of Engagement for Comprehensive Financial Plan
123 QUEEN STREET
DATE: 7th March 2015
123 MAIN STREET,