Financial Planning Process
There are six steps in the financial planning process.
It is vital that we understand your financial position in order to provide you with appropriate advice. Stage one in the process therefore involves discussion and data gathering including your current financial position, goals and objectives and comfort level with regard to investment risk.
Once we have an understanding of your position and have collected the relevant information from you, we then analyse the data and research the alternative strategies that may be beneficial to you. This sometimes involves modelling using sophisticated financial planning software.
Our recommendations are then presented to you in the form of a “statement of advice”.
A second meeting is arranged to discuss the recommended strategies and how they will affect you. Once we agree that we have tailored the appropriate solution, we guide you through the implementation phase and introduce you to our ongoing review service. This is a key component of our process, especially with regard to Western Pacific’s investment process which is proactive and involves regular communication with our clients.
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The six steps of Financial Planning
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