Comprehensive Financial Planning

Let’s start with a question:

Do we really need financial planning in order to make financial decisions?

Thomas F. Cooley, who served as Dean of the New York University Stern School of Business, claims that: “Some of the important decisions consumers make in their lifetimes involve financial products and insurance to keep one’s family secure. These products have become increasingly complex over time, and consumers face a wide range of product options offered by different service providers, causing decision making to be more complicated. Consumers therefore need to be financially literate or use the assistance of a professional expert in order to make well-informed choices for such complex decisions.”

Comprehensive financial planning is aimed at assisting you and your family throughout all circles of life, by identifying the correct balance between the resources you have at your disposal and your goals and desires, and assisting you in realizing them.

Comprehensive financial planning entails a number of services, including:

• Defining your short-term and long-term goals for after your retirement.
• Dealing with all components of your financial portfolio in one place (insurance plans, pension funds, saving accounts, investments, etc.).
• Creating a comprehensive pension plan for you and your family.
• Re-evaluating the risk levels of your financial assets, including rates of interest, fees, and charges.
• Examining the feasibility of all your saving plans, insurance coverage, investments, and bank accounts, eliminating duplicate plans and adding missing and important plans.
• Planning your savings, insurances, and investments in line with your financial situation.
• Providing financial consultancy services and ongoing monitoring and management of your investments
• Taking advantage of opportunities for increasing capital gain.
• Executing insurance plans and raising funds when necessary.
• Implementing and monitoring your defined financial plan to suit your objectives.
• Issuing periodic reports and updates regarding any relevant changes to your portfolio.