financial planning an introduction222

FINANCIAL PLANNINGFINANCIAL PLANNINGAn IntroductionAn Introduction

ACME Financial ServicesIndependent Financial Advisors

Presented By:

Shabbeer HussainIndependent Financial Advisors

Office # 3, 21-C, 22nd Commercial Street, DHA Phase-II Ext, Karachi.

Ph: 92-21-7095238, 8695075, 5391228, 0345-3420674

Email: [email protected], [email protected]

URL: www.shmconsulting.com.pk(A division of SHM Consulting Group)

http://acmefinancialservices.blogspot.com/

FINANCIAL PLANNINGFINANCIAL PLANNINGAn IntroductionAn IntroductionWho We Are?What is financial planning?Why Need of a Financial Advisor ? What do you want out of life? Do you need a financial plan?Financial Planning STEPSGetting Started

ACME Financial Services Independent Financial Advisors +92 321 2797881, 021 7095238 2

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Who We Are?Who We Are?

ACME Financial Services is one of the independent consulting firms dedicated in financial planning, and management consultations to individuals, companies and corporate sector. ACMEFS offers you value-added guidance on a wide variety of financial issues that improves your present and future plans also.


http://acmefinancialservices.blogspot.com/

What isWhat is financialfinancial planning?planning?

Financial planning is the process of meeting life goals through a “big picture” approach to managing finances


What is financialWhat is financial planning?planning?

Comprehensive financial planning uses an integrated approach to monitor all aspects of someone’s financial situation: Investment Planning Insurance & Risk Management Tax Planning Retirement Planning & Employee Benefits Estate Planning


Why Need of a Financial Advisor ?Why Need of a Financial Advisor ?

Financial advisor can help you in maintaining standard of living and accumulate prosperity. Everyone with substantial assets, needs

sound financial advice Sound financial planning, particularly in

personal financing, to safeguard the wealth The greater the wealth more complex the

affairs, the more it needs guidance


What do you want out of life?What do you want out of life?

What matters most to you? More time with family Financial security Peace of mind Independence

What will money do for you? Travel, vacation plans Lifestyle in retirement Eliminate debt Children's education


Do you need a financial plan?Do you need a financial plan?

Do you carry any debt where the interest is not tax deductible? Do you feel that you may be paying more than your fair share of

income taxes? Do you ever worry that your investments are not performing the

way they should? Do you have any concerns for your family’s ability to maintain

their lifestyle if you died or became disabled? Are you self employed or a shareholder of a small business.


Death and TaxesDeath and Taxes

“In this world nothing can be said to

be certain, except death and taxes.”Benjamin Franklin


Financial Planning STEPSFinancial Planning STEPS Step 1: Determine Where You Are

Financially Step 2: Set Goals Step 3: Develop A Plan Step 4: Monitor Your Progress


Step 1: Determine Where You Are Step 1: Determine Where You Are FinanciallyFinancially

Calculating Your Net Worth Analyzing Your Cash Flow


Calculating Your Net WorthCalculating Your Net Worth

Net worth = what’s left after you

subtract your liabilities from your assets


Analyzing Your Cash FlowAnalyzing Your Cash Flow

Assessing your cash flow will: Indicate your ability to save Let you size up your standard of living Indicate if you're living within or beyond your

means Highlight problem areas


Step 2: Set GoalsStep 2: Set Goals Questions to be addressed before

setting goals◦ How long will you continue to work?◦What will happen with your income

-will it remain the same, rise, or fall?◦What will happen with tax rates?


Step 2: Set GoalsStep 2: Set Goals What investment rates can you

reasonably expect? What about the rate of inflation? How much involvement do you wish to

have in managing your investments?


Short-Term GoalsShort-Term Goals Pay off credit card and consumer debt Start savings plan Set aside cash for a contingency fund

equaling 3 months' expenses Acquire additional term life insurance Acquire individual disability insurance


Medium-Term GoalsMedium-Term Goals Start college savings plan Diversify investment portfolio Convert term life insurance policy to

cash-value policy House Building Capital Building


Long-Term GoalsLong-Term Goals Purchase retirement property Retire at age 60 Maintain pre-retirement standard of living

during retirement


Step 3: Step 3: Develop Your PlanDevelop Your Plan

Flexibility Liquidity Minimization of Taxes


FlexibilityFlexibility

You need a plan that's flexible enough to

change with your circumstances

throughout the major and minor life

events you experience.


LiquidityLiquidity

Most financial advisors recommend that you have funds available that are equivalent to 3 to 6 months of your expenses. Appropriate locations for these funds are checking, savings, and money market accounts.


Minimization of TaxesMinimization of Taxes Minimizing taxes must serve as a means

to meet your objectives; it isn't an end in itself.

An effective plan will minimize both income taxes and estate taxes.


Step 4: Monitor Your ProgressStep 4: Monitor Your Progress Here are the general questions

to ask:◦ Have your financial goals stayed the same?◦ Are you meeting your budget?◦ Are you earning the investment rates of

return you anticipated?


Step 4: Monitor Your ProgressStep 4: Monitor Your Progress

◦ To what degree is inflation affecting your finances?◦ Has your tax situation changed?


Getting StartedGetting Started

Our Responsibilities: To gain an understanding of your financial situation as it

relates to this planning engagement. Determine to what extent you will be able to meet

your goals, needs and priorities. Identify possible problem areas that should be

addressed. Present you with our recommendations and clearly

explain the options available to you.


Our Promise to YouOur Promise to You There is no charge for the initial consultation and you are under no

obligation to continue once we have confirmed the planning fee.

The financial plan is yours to do with as you see fit. You may, at your own discretion, implement any or all of the recommendations made with any financial advisor or financial institution you choose.

The financial benefits you can expect to receive by implementing the financial plan will be no less than 5 times the fee charged for the plan or the fee will be reduced accordingly.


Our Promise to YouOur Promise to You There will be no direct charges to you for this financial plan. All I ask is that if you

decide to purchase any financial products as a result of my work, you agree to do so through me.

If for any reason you are not satisfied with the scope and detail of the completed financial plan you may return all copies of any documents provided to you as notice of your wishes to terminate our relationship.

All recommendations presented to you, including those involving the sale of a financial product, are made with your best interests in mind.

At no time will you be under any obligation to accept any advice provided to you or to implement any of the recommendations contained in the financial plan.


Responsibilities of The ClientResponsibilities of The Client

The Client will make every effort to participate in the financial planning process. Ultimately, it is the Client’s responsibility to implement recommendations and make their financial plan work in their life.

The Client should approach our financial planning meetings with an open mind. This will help the Client to learn more during the financial planning process.

The Client is responsible to make sure that they understand what AFS is explaining to them.

The Client is responsible for disclosing all relevant facts and information that are necessary for AFS to provide accurate and comprehensive advice for the Client’s unique situation.


Get Financial Services ConsultancyGet Financial Services Consultancy

At ACME Financial Services, we diligently understand the situation. That's why we provide a free, no obligation and impartial financial planning consultation. We will look into your situation in its totality and advise you accordingly. We do not want to just sell clients mutual bonds or investments funds etc., we want to help in planning finances and managing wealth. To achieve the goal, we have to know what your current situation is and how everything fits together. If you are interested in financial planning, call us +92 321 2797881 without any hesitation.


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financial planning an introduction222

Economy & Finance

independent consulting

integrated approach

future plans

valueadded guidance

process of meeting life

big picture approach

vacation plans lifestyle

dha phase