subject: Financial Planners Making Your Life Look Easy [print this page] Everything needs to be planned for getting the maximum benefit from that object and so do financial matters. Money and planning are in fact two vey essential components of our lives and one cannot do without them. For effective management of fiscal matters planning is very important. It is mostly seen that people mostly dedicate all their attention towards increasing their income and earning money but does not pay any heed to its management. But managing of pecuniary matters is also equally important. Designing and developing of budget is in fact a kind of art that not everybody is skilled at. Earning money in fact is a lot easier than keeping it, monetary matters if not maintained properly may result in risking of ones hard earned income. This is the sole reason why financial planning is so important. In todays world where dangers and risk lurks at every nook it is very essential to manage ones finances in a manner that one reaps maximum benefit from it and since managing finances is no childs play this is where the role of a financial planner comes into play.
In todays world thanks to our busy schedule we hardly get any time to plan our finances. Most of our time is consumed in either earning money or spending it on our day to day activity but hardly any thought is given on the saving of money. This kind of persistent neglect of finances may eventually prove detrimental to ones economic growth. And the only person who has the capability of pulling us out of this situation is a financial planner.
Now days there are many financial planners available who offer services to both business organizations as well as to individuals. While some financial planners offer specialized services to any one of the either group there are others who offers quality service to both the groups. So while choosing a planner it is wise to enquire into his whereabouts first especially the field of his specialization and then appoint him accordingly.
The most important task of any financial planner is to provide guidance to the investors and to remove the obstacles from their path of economic growth. In short they need to be innovative and capable enough to find a way out of financial dead end, to turn obstacles and inconveniences into opportunities and find a solution to financial stagnancy.
The planning involves different components like
Financial planning which includes analysis of the clients financial position and also Income tax planning and retirement planning.
Investment management including asset allocation, education planning lump sum accumulation, and ongoing investment fees etc.
Risk management including life insurances, disability options, Medical and Health, Property and Casualty etc.
Estate Legacy planning involving estate balancing, capital transfer, asset ownership, trusts, Wills and IRDs etc.
The fee structure of the services provided by these financial planners is determined by the value of the assets that are required to be maintained by them. The higher the value of the asset the higher the fee charged.
by: sharry verma
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