PA Wealth Advisors' professionals engage with client on a constant basis for gathering client data in order to determine goals and expectations, evaluating the client's financial status, presenting the financial recommendations and/or alternatives, implementing the financial planning recommendations and monitoring the same over the planned period.
Financial planning is the development of financial roadmap that fulfils the personal needs and goals. Every person plans for the future so that old age is secure as well as the offspring’s financial future remains unharmed. Thereby financial assets allocation is to be determined and implemented.
Inputs for setting a financial plan
It is important to understand the client goals, and over what time period he/she wants to achieve those goals. Goals may be short term (to be achieved within a time span of one year) and have to be fulfilled by being conservative or long term goals that require holding the financial assets over a long time period.
Risk profiling is an important step for setting financial roadmap. Every individual should know what their risk capacity is. Crucially, one’s risk profile will change after certain period of time or due to other life factors. A single person might be able to take a lot of risks as compared to a person having dependents or financial liabilities.
: Prior to investing, it is quite crucial to get clear that for how long one wants to keep the money blocked and to understand the duration that an investment will take to liquidate . Stock market linked instruments are much easier to get liquidated than many others. Accordingly financial plan shall be made that fulfils the requirement that funds are available with ease in need of hour. But viewed with growth point of view, certain portfolios prove to be beneficial if held over a considerable period of time.
Inflation is a part of our economic life in India. The purchasing power of your money is going down every year. The asset allocation must be such so as to cover the inflation rate at least if going conservative. More over if appropriately diversified we aim to plan out such portfolios that surpass the inflation in many folds.
Financial planning also depends on the clients’ needs for capital appreciation or steady income. Not all investments satisfy both requirements. Such needs are dependent on multiple factors – age, dependable source of income, risk level, family considerations and many others.
Our team while setting out financial plans clearly obtains details relating to such factors as such factors will affect the decision of selecting the instruments for wealth creation.
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