The Pure Financial Management Process
Step 1
Data Gathering
Your first meeting is where your financial adviser gains an understanding of your present financial position, your needs and objectives, and the types of investments required to meet them.
Step 2
Identifying Goals
An important part of the financial planning process is to clearly identify your financial goals and objectives.
Step 3
Identifying your Financial Issues
Your financial adviser compares your financial situation with your goals to determine the appropriate strategies neccessary to achieve them. This will form the foundations of your financial plan.
Step 4
Preparing your Financial Plan
Your financial adviser will formulate an overall strategy taking into account your attitude towards risk. Your adviser develops recommendations designed to achieve your goals.
Step 5
Implementation
Once the plan is agreed your financial adviser can implement it on your behalf, or assist you with the process.
Step 6
Review
An important part of the process is to regularly review the performance of your financial plan with your adviser to ensure that it is living up to your expectations.
