Financial Planning

  Increase wallet share and drive referrals with this
The 6th in this financial planning series focuses on the final step of the 6 step process – Review and Monitor. This step is the most important not just to keep plans on track to achieve goals, but also as your biggest business driver.

Get your balance right in this jugalbandi
Implementing a financial plan is all about a jugalbandi between your execution skills and your client’s commitment to the plan. You need to strike the right balance between these two, to ensure that the plan gets implemented successfully. Here are some insights on how do get this jugalbandi right.

  2 great financial plans to learn from
The 4th in this series focuses on the 4th step of the 6 step process – Build plan and make recommendations. Your approach in this step is what makes all the difference. Successful planners are those who recognise that their role is to present alternatives and help the client make an informed choice, rather than presenting a single solution which in their opinion is the best

Are you covering these 7 aspects in your financial plans?
Saturday School’s series on financial planning puts a spotlight on the universally accepted 6 step process, and delves into some detail on each of these 6 critical steps to help you truly differentiate your planning proposition and add value to your clients. The third in this series looks at step 3: “Aanlyze and strategize” – where you put your mind to work on the data you have collected to craft solutions that can help your clients realise their goals. Beyond the number crunching is the fine art of helping clients make choices – on establishing relative priorities for each goal, on allocating scarce resources towards multiple goals, on making prudent asset allocation decisions.

  Junk your client questionnaire; consider this approach
In this piece, we examine the 2nd step of the six step process – Gathering client data – and offer you a completely different way to engage with clients during this critical phase. For far too long, we have used templated questionnaires which are designed primarily to help data entry into our financial planning software rather than actually understanding deeper about the client’s dreams, aspirations and fears. Here is a suggested way forward, for you to actually gather the data you really need to be an effective planner.

The right way to begin your financial planning relationship
Saturday School begins a new series of educational articles on a theme that is critical for distributors and advisors to imbibe and practice: financial planning. Financial planning goes far beyond goal based SIP sales, which has become a popular and welcome mode of retail client engagement. In this series of articles, we will explore financial planning – not from a bookish perspective, but from a practitioner’s perspective.