The Financial Planning Process
The five steps to financial planning are: |
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Understanding your current situation: |
In order for a financial planner to be able to provide advice relevant to your situation, they will need to obtain the following information from you:
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Setting goals and objectives: |
What is it that you want to achieve from your investments? Have you a short or long term focus?
A Quadrant Local financial planner will help you identify your goals. |
Identify critical success factors and barriers to achieving your goals: |
A financial planner will review your goals and compare these to your current situation. They will then highlight the areas critical to achieving your goals and the financial barriers that need to be overcome. A financial planner will then identify various strategies that will assist you to achieve your goal. They could include actions within the following areas:
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Implementing the agreed strategy: |
A financial planner with then assist you to implement your agreed strategy. This could involve:
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Ongoing review and monitoring of your strategy: |
As you progress through life, your circumstances and goals change. It is important that you regularly review your plan with your financial planner to ensure that it continues to be relevant. |
Additional Information: |