As your financial planner, we will help you assess your monetary situation. We will sit with you and understand your income and expenditure patterns, help you set up and meet your financial goals by looking at savings, investments, insurances, taxes, and retirement. This is worked keeping in mind savings objectives, investment needs, necessary insurances, tax planning, and retirement planning. Regular monitoring of the portfolios, periodic intimation of their returns, and making the decisions to switch or exit from schemes, if any, is done proactively/ timely to ensure that your financial goals are achieved/met.
We undertake the process of your financial planning by choosing products with a low cost and ensuring high returns. This is being done by assessing your life goals, choosing the right products, and monitoring the same by making switches between the schemes keeping the condition of the markets to ensure the enhancement of returns. We give life cover and health cover a special weightage in designing the financial plan for our clients which makes an ideal financial plan for the family. Whether you are an individual or a corporate, we at Security Investments Limited endeavor to bring the right solutions which are tax-efficient and have the right asset allocation.
A financial plan is the road map for your financial life. It covers major financial areas of your life addressing aspects such as cash flow, savings, debt management, risk management, children's education planning, taxes, retirement, estate planning, and of course, investments and a strategy for managing them. It is more than a guide. It is a written strategy that gives you a clear, pragmatic path to follow towards the accomplishment of your most important financial goals.
Having a financial plan is like having a travel plan - it identifies where you're going, how and when you'll get there, how much will it cost, and things to do along the way. A personal financial plan looks at where you are today and where you want to go. Then it sets out all the steps you need to take to get there. Everyone who is earning should draw up a financial plan. The plan will help you get the most from your money and help you in achieving your financial goals in life. Some people naturally resist the process of creating a Financial Plan. Initially, it seems overwhelming and/or just too much trouble. However, the potentially devastating consequences of not having it are far greater than the initial discomfort that you experience in the process. For most people we have worked with, the hardest part is just making the decision to get started. Once the process has begun, most clients find it engaging and interesting.
Do you need financial Plan?
Yes - if you have an income, a family or planning to have one in the future, retirement dreams, and for many other financial reasons / goals that are unique to you. No one can predict the future but one can certainly be better prepared for it. An effective financial plan will make sure that you are financially prepared to deal with the unexpected events and stormy times. If you don’t have one, you’re more likely to end up in a financial mess. On the contrary, if you have one and the recommendations thereon have been executed, most of your financial goals will be satisfactorily met. A good financial plan can alert you to changes that must be made to make sure a smooth transition through life’s financial phases, such as decreasing spending or changing asset allocation.
By developing a financial plan you and your family
By developing a financial plan you and your family: Will have a better understanding of your current financial position. Determine attainable retirement, education, insurance, and other financial goals. Review goals, funding strategies, and alternatives to balance all goals. Have the necessary financial resources set aside to fund your goals as they occur. Reduce the effects of unexpected events such as disability, premature death etc.
You need not be very rich to have a financial plan. No matter how much you earn and at what age, a plan is important to make your life easier. As your financial situation influences almost every aspect of your life, a regular financial plan can help give you peace of mind and protect you from unforeseen, unfavourable situations. Once you have a working personal financial plan, you can use it to make informed financial choices. Having a good financial plan will allow you an over view of what you can afford. It will allow you to analyse your wants versus your needs. It also provides you a way to see how to avoid major financial mistakes in the future.
Risks of not having a financial plan
Risks of not having a financial plan: You may be able to achieve what you want today but might not be able to achieve what you need few years down the line. Say, if you buy a new car now, you might not have enough funds later to buy your dream home.
You may not see the big picture. Say, you may grow your wealth by making good investment choices but end up being tax inefficient and pay more taxes than you need to.
You may take a short-term view of an opportunity and make rushed financial decisions, or fall into some scam trap. Worst of all, you may end up doing nothing (and just thinking of doing something) and never achieve your financial goals.
You might become a victim of misselling and build a corpus of investment products that neither suits your financial needs nor your risk profile.
You are very much likely to worry more about money and financial security. You may not know where you are today and where are you heading for. It also provides you a way to see how to avoid major financial mistakes in the future.
Tips for Effective Financial Plan
Be realistic with your investment returns, don’t plan to outperform the markets. Account for market risk and don’t assume the same return to repeat every year. Don’t forget to plan for inflation, taxes, goals and many other aspects which could be only covered with help of an expert . An advisor would you to review your financial plan regularly to see if you are on track or need any changes in the plan.
The need for financial plan is all the more very important in the turbulent economic times of today. If you don’t have one till now, don’t delay any more and Get it Now. Don’t be self-satisfied that you will be okay whatever happens. Face the reality. Unless you develop a financial plan early otherwise it will be too late.
As your investment advisor, we help you find the right products and securities you need to meet your financial goals. We are not restricted in the products and services rather we bring solution to your needs and bring basket of products with honest recommendations which we will help you to choose from.
Legacy means “something left or handed down by a predecessor”. The current management and staff of SIL are part of a legacy of over 50 years. This has taught us the right ideals of service and management. We have been taught to not only invest the funds of our clients but to invest in the lives of our clients. The benefit of historical database and first-hand knowledge which has been passed down to us gives an edge that enables us to advise and guide your investments in a responsible manner.
As your tax planner, we analyze your existing wealth or financial plan from a tax efficient perspective. Whether an individual or a corporate, we help in optimizing your finances by utilizing the available tax exemptions and deductions to minimize your tax liability, thereby supplementing your savings and investments.
Portfolio Management Looking after your needs as a family is our first priority. We provide services and facilities which will consolidate all the assets held by you and your family members. If you and your family hold investments in various mutual funds, bonds, equity, debentures, fixed deposits, insurances, etc. then post your disclosure, we would consolidate these and make into one portfolio which will ensure that you can easily keep track of and monitor your assets and liabilities.
Meet Your Financial Planner
Looking after your financial needs as a family is our first priority. We provide services by providing facilities that will consolidate all the assets and liabilities held by you and your family members. If you and your family hold investments in various mutual funds, bonds, equity, debentures, fixed deposits, insurances, etc. we would consolidate these into one portfolio which makes it a part of the total assets of the family. Our robust Financial Samurai is extensive coverage of your assets, expenses, and liabilities to evaluate your cash flow and help you to achieve your desired goals.
We will sit down with you and understand your income and expenditure patterns, help you set up and meet your financial goals by looking at savings objectives, investment needs, and necessary insurance, will ensure that you can easily keep track of and monitor your assets and liabilities. The details will be assembled by extensive discussion with you studying each aspect of inflow and outflow of funds with our experienced team. Take a guided route with us to establish your future planning which can help to make a planned move in life. Your interest by way of sharing details will bring our expertise of over 5 decades to give you the best plan for your family.