Financial planning is a comprehensive, long-term and broad process that entails getting to really know your financial situation, preferences and goals. Based on this understanding, we will build a tailor-made strategic plan for managing your financial matters and your insurance coverages, maximizing your cashflow, and realizing your objectives – now and in the future. The process includes 7 main stages:
Financial planning must be based on really knowing you and your family, your finances, the levels of risks you are all exposed to, and your goals and preferences. At this stage, we will meet with you and gather data about all of your assets, including investments, bank accounts, cashflow, saving plans, insurance plans, and all other relevant financial information. Optimal results can only be achieved after creating a complete financial picture.
Financial planning plays a significant role in defining your present and future goals, including the desired lifestyle that you would like after you retire. Financial planning is the axis between your dreams and reality. Expectation management can determine the type and scope of activities and services that best suit you and your financial capabilities.
When analyzing data and evaluating your financial situation, we will also examine the services and products that you currently have in terms of risk vs. possible reward, expenses vs. efficiency. We will also identify gaps between the desired and reality and examine your resources, yields, management fees, securities, tax alternatives, etc. The objective is to decrease the gap between your desires, your goals, and your financial capabilities – to provide you with a worry-free financial future.
Based on our research and analysis, we will develop a tailor-made financial planning and management strategy especially for you – to bridge between your desires and your actual assets, and define how to allocate your resources (including your retirement plan) to suit your objectives – now and in the future. Defined strategies also provide a series of recommendations for optimizing your financial services and products, and your insurance plans – so that they suit your long-term and short-term needs, capabilities and desires.
At this stage, we will present your tailor-made financial plan in the most coherent, transparent and reliable way – so that you really understand what your finances can achieve. Throughout all stages of financial plan preparation, we always put your best interests first. The plan includes specific recommendations, action plans, and long-term programs, and together we will decide how to implement and monitoring the defined strategy. The financial plan is created in order to assist you in your decision-making processes, now and in the future, and to provide a solid basis for realizing your financial desires at any given time.
Based on the said financial strategy, an action plan is created to re-examine and refresh the contracts between yourself and the various financial and pension entities, and to examine alternatives for managing and allocating your resources. At this stage, your insurance portfolio and contracts will be discussed, duplicate insurance plans will be cancelled, unnecessary plans will be eliminated, and necessary ones will be added – to ensure that the financial products suit the needs of you and your family. In addition, mortgage payments and additional funding solutions will be examined, with the purpose of decreasing funding costs and the period of repayments. Options for decreasing taxes will also be examined, and “lost” funds will be located, with the help of a range of tools and professionals. All components of the action plan are aimed at creating the best possible financial portfolio for you – to help you achieve your goals, as defined in the financial plan.
Quite often, financial products change, regulations are updated, and market conditions alter. Your needs and those of your family members also change over time. This makes it difficult to really understand and keep up-to-date with your finances. That is why our financial planning delivers a periodical review of your financial portfolio and relevant updates, and adjusts the portfolio layout – to adjust it to suit the continuously changing reality. This way, you can rest assured that your financial portfolio is on the correct and most optimal path, so that you can realize your objectives. We are always here for you, every step of the way, happy to answer questions and solve problems as they arise.
Financial Planning
Member of the Association of Financial Planners in Israel
An expert in financial, pension and risk planning management, Yosi Pichadze is a licensed pension insurance agent and a licensed investment consultant (contingent). Yosi is also a certified financial planner (CFP) and a member of the Union of Financial Planners in Israel (UFPI). He too often finds himself contemplating about the day he retires, has more time to spend with my family, and realizes at least some of his dreams.
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