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Financial Planning is simply about arranging your finances in such a way as to meet your goals. In this sense, it is about turning your financial dreams into reality. The key is to know what your goals are, and to then put a robust, yet flexible, plan in place.

The plan will have various strategies tailored to your specific goals and circumstances, and having the assistance of a financial coach will often be the difference between achieving goals or not.

Goal setting is important in the many different spheres of our lives, and therefore Financial Planning has an important part to play in family situations as well as in business contexts.

The four key pillars of Financial Planning are:

Cash and Debt Management

We all need to know what we do with our money, so as to put plans in place for what we want to do with our money. Ultimately we all need to live within our means, and this aspect of Financial Planning covers spending plans, banking structures, the use of debt, and mortgage structural issues. Debt strategies are particularly important to understand when exploring some investment planning options such as building direct property portfolios.

Risk Management

Many people carry financial risks that they are simply unaware of. It is important to think through an appropriate plan to reduce the impact of these risks where possible. Solutions could include establishing appropriate cash savings as an emergency reserve through to passing on the risk to an insurance company. Navigating your way through the myriad of insurance options can be a daunting prospect; many people aren’t aware of the differences between the different covers, let alone which types and amounts of cover might be relevant for their specific financial situation.

Investment Planning

There are so many investment options available that this whole area can easily become rather bewildering. Does diversification matter? What different assets can be invested in? What part do options such as investment properties, shares, KiwiSaver and Term Deposits have to play in relation to each other? Selecting appropriate investments of course must come back to the definition of the goals that are trying to be reached, and it is therefore important to obtain advice from a financial coach able to comment on a wide range of possible options.

Any Financial Plan needs to be reviewed on a regular basis, as our goals and financial situations will change from time to time as we travel through life. We therefore believe that not only do plans need to be flexible, but there needs to be a strong emphasis on the relationship between client and Financial Planner. To this end we offer our initial appointment free of charge, as we want to ensure that potential clients find out enough about us before deciding whether or not to obtain our professional assistance.

Tax and Estate Planning

We all tend to accumulate assets over our lifetimes. It is worthwhile thinking through how we want to achieve ownership of assets as well as how we would ideally like those assets to be disposed of in due course. It is vital to also include due consideration of Tax issues, and we work closely with our client’s legal and tax advisers as part of this process.