Moeny Tools FPFinancial planning
covers assets and liabilities, income and expenditure, taxation, cashflow management, retirement planning, investment planning and financial risk management. Along with insurance planning, and estate planning.

It is a comprehensive process looking at all aspects of personal finance that are required to become financially well organised.

It covers all areas of the client’s financial needs with the end result of achieving of each of the client’s goals as required.


 

The generalscope of planning would usually include the following:

Risk Management and Insurance Planning
Managing cash flow risks through sound risk management and insurance techniques
Investment and Planning Issues
Planning, creating and managing capital accumulation to generate future capital and cash flows for reinvestment and spending, including managing for risk-adjusted returns and to deal with inflation

Retirement Planning
Planning to ensure financial independence at retirement including all existing financial products and arrangements

Tax Planning
Planning for the reduction of tax liabilities and the freeing-up of cash flows for other purposes

Estate Planning
Planning for the creation, accumulation, conservation and distribution of assets

Cash Flow and Liability Management
Maintaining and enhancing personal cash flows through debt and lifestyle management

Process
The personal financial planning process is described in ISO 22222:2005 as consisting of six steps

  1. Establishing and defining the client and personal financial planner relationship
  2. Gathering client data and determining goals and expectations
  3. Analysing and evaluating the client’s financial status
  4. Developing and presenting the financial plan
  5. Implementing the financial planning recommendations
  6. Monitoring the financial plan and the financial planning relationship