It applies to everyone, irrespective of your income and net worth.
One of the biggest challenges in taking finance decisions is knowing all the options available to you. Product salesmen only talk about the benefits of their products and do not educate you on the other potentially better options. An unbiased, independent planner can show you all the options and educate you on the benefits and limitations of each one of them, helping you make fully informed decisions.
It will help you quantify your life’s goals and create a plan to achieve them. Eg, saving for your child’s education is a goal, but how much will be needed 15 years from now, and how much you need to save starting now needs to be understood. It also helps to identify future needs much earlier so you can start working towards fulfilling it.
There are thousands of mutual funds, hundreds of insurance policies, retirement plans and investment options. A professional planner can research and identify the product that best suits your needs and offers the best value for the lowest cost. Your current non-performing investments and insurance can be replaced or eliminated, also reducing unnecessary commissions and hidden costs.
A plan helps you understand what you have today and optimize your wealth and income for best results. With a holistic view of your finances, all the different pieces of your financial lives work together in an efficient manner.
Life is unpredictable and a financial plan helps you and your family be prepared for future uncertainties. Through risk management and insurance planning, you can be rest assured that the risks are taken care off.
With proper goals identified, quantified, and a plan to achieve them, you can have better clarity and peace of mind that you are on track to achieve your life’s goals and that risks are taken care of. You will know exactly what you need to do to achieve your goals.
Compensated only with the fee clients pay, not earning commissions by any means
Not affiliated with any bank, mutual fund or insurance company.
Holding SEBI’s ‘Registered Investment Adviser’ (RIA) license.
Financial planning is the process of seeking to meet your life goals through the proper management of your finances. Financial planning helps you make advance provision for financial needs that will arise in the future. The objective of financial planning is to ensure that the right amount of money is available in the right hands at the right point in the future to achieve an individual’s life goals.
Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you save adequately to finance your child’s higher education, or it may provide enough for a comfortable retirement. You can also adapt more easily to life changes and feel more secure that your goals are on track.
A financial planner is someone who uses the financial planning process to help you determine how to meet your life goals. The key function of a financial planner is to help people identify their financial planning needs, their present priorities and the products that are most suitable to meet their needs. He or she normally possesses detailed knowledge of a wide range of financial planning tools and products, but his primary role is to help clients choose the best products for each need. The planner can take a “big picture” view of your financial situation and make financial planning recommendations that are right for you.
Some personal finance software packages, magazines or self-help books can help you do your own financial planning. However, you may decide to seek help from a professional financial planner if:
You need expertise you don’t possess in certain areas of your finances. For example, a planner can help you evaluate the level of risk in your investment portfolio and revise your asset allocation;
You don’t feel you have the time to spare to do your own financial planning;
You know that you need to improve your current financial situation but don’t know where to start;
You feel that a professional advisor could help you improve on how you are currently managing your finances;
You have an immediate need or unexpected life event such as an inheritance or major illness;
You want to get a professional opinion about the financial plan you developed for yourself.
A financial planner works for you. His or her loyalty should be to the client, not the product(s) he or she is trying to sell. We feel that being truly independent is the best way to give clients objective advice. As independent advisors, we do not have limitations or requirements to use any specific investment product or solution; this allows us to create customized financial plans designed to provide income and growth for our clients.
Create a budget. Determine what you actually spend each month. There are fixed expenses like rent, loan repayments, etc. every month about which we can do little. The variable items such as food, clothing and entertainment are often what get away from us. Use your discretion to contain these variable expenses to start saving.
It is hard to apply a rule of thumb toward savings, because it varies with age and income level. Ten percent is a good start. If you find that is too high for you, don’t let that deter you. You can start by putting a little aside each month and then slowly increasing it.
Financial planning is a common-sense approach to managing your finances to reach your life goals. It cannot change your situation overnight; it is a lifelong process. Remember that events beyond your control such as inflation or changes in the stock market or interest rates will affect your financial planning results.
Consider a visit to your doctor. Without complete and fully accurate details, your doctor cannot prescribe the best course of action. The same applies to financial planning. In order to obtain the best service for your “financial health,” all details and specifics must be disclosed.
Typically, information regarding investments held, number of dependents, income and expenditure details, savings and financial planning needs, etc. The more accurate information you give, the better the quality of advice given.
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SEBI REGISTERED INVESTMENT ADVISOR
Owner- Multiplier Wealth Investment Advisors Private Limited
Type of Registration- Non-Individual
Registration number- INA000017684
CIN Number- U67100HR2021PTC095386
BASL ID- 1960
Validity of registration- Perpetual
Address- 244P, Sector 9A, Huda Market, Gurgaon- 122001, Haryana, India
Corresponding SEBI Regional Office Address- NBCC Complex, Office Tower-1, 8th Floor, Plate B, East Kidwai Nagar, New Delhi – 110023