Financial Planning Scope
Financial planning should cover all
areas of the client’s financial needs and should result in the
achievement of each of the client's goals. The scope of planning
would usually include the following:
Risk Management and Insurance Planning
Managing cash flow risks through sound risk management and insurance
techniques
Investment and Planning Issues
Planning, creating and managing capital accumulation to generate
future capital and cash flows for reinvestment and spending
Retirement Planning
Planning to ensure financial independence at retirement
Tax Planning
Planning for the reduction of tax liabilities and the freeing-up of
cash flows for other purposes
Estate Planning
Planning for the creation, accumulation, conservation and
distribution of assets
Cash Flow and Liability Management
Maintaining and enhancing personal cash flows through debt and
lifestyle management
Relationship Management
Moving beyond pure product selling to understand and service the
core needs of the client