Financial planning is the process of assessing financial goals of an individual, taking an inventory of the money and other assets which the person has, determine life goals and then take necessary steps to achieve goals in the stipulated period. It is a method of quantifying a persons requirement in terms of money.
It is the process of meeting life goals through the proper management of finances. Financial planning is a process that a person goes through to find out where they are now (financially), determine where they want to be in the future, and what they are going to do to get there. Financial Planning provides direction and meaning to persons financial decisions. It allows understanding of how each financial decision a person makes, affects the other areas of their finances. For example, buying a particular investment product might help to pay off mortgage faster or it might delay the retirement significantly. By viewing each financial decision as part of the whole, one can consider its short and long- term effects on their life goals. People can also adapt more easily to life changes and feel more secure that their goals are on track.
In simple, Financial Planning is what a person does with their money. Individuals have been practicing financial planning for ages. Every individual who received money had to make a decision about the best way to use it. Typically, the decision was either spend it then or save it to spend later. Everyone had to make the same decision every time they receive money.
Financial Planning is an advisory service provided by the finance industry. Although financial planning is not a new concept, it just needs to be conducted in organized manner. Financial Planner on other hand is a service provider which enables an individual to select proper product mix for achieving their goals.
The major things to be considered in financial planning are time horizon to achieve life goals, identify risk tolerance of client, their liquidity need, the inflation. Keeping all this in mind financial planning is done with six step process. This are self assessment of client, identify personal goals and financial goals and objective, identify financial problems and opportunities, determining recommendations and alternative solutions, implementation of appropriate strategy to achieve goals and review and update plan periodically.
A good financial plan includes Contingency planning, Risk Planning (insurance), Tax Planning, Retirement Planning and Investment and Saving option.
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About the Company
Year of Establishment2010
Nature of BusinessService Provider
IndiaMART Member SinceMay 2013
Started in June 2011, IN-FIN Solutions is a full services financial services company committed to providing its clients with sage and sound investment advice. IN-FIN Solutions believes that a solid investment strategy must be developed individually for each client by focussing on their core goals and interests.
Personal commitment to professional excellence, coupled with a strong desire to help others, is the common thread among the Investment Advisors at IN-FIN Solutions. We often hear that the experiences that our clients have working with IN-FIN Solutions are far superior to those encountered at other investment companies, We're proud of that difference, and of the long lasting relationships we have forged with our clients, their friends and their families!
We provide a broad spectrum of investment solutions and services ranging from traditional solutions as mutual funds, insurance, deposits/F.D etc. We also offer more unique services as investment in arts, real estate and estate planning.