Financial Planning is a scientific tool which helps you to identify & prioritize your future needs & dreams, quantify them into financial terms and manage your resources in such a manner so as to fulfill all your goals based on your risk profile.
Financial planning provides a roadmap to fulfill financial goals & aspirations, by identifying risks and managing resources & by taking into consideration different aspects of one’s financial assets & liabilities. Financial planners help how resources should be managed so as to achieve the financial goals. Financial planning is not a one time exercise; rather it is a continuous process. As a person walks through different phases of life, he has different responsibilities & obligations to fulfill. For example, post marriage he has to meet the expenditures of his dependents, meet the children’s education and subsequently their marriage expenses. He also needs to plan to buy a home, and most importantly to meet post retirement expenses without compromising his lifestyle.
IFM financial consultancy services helps you to create your personal finance plan by taking your present financial details and future anticipated goals, keeping in mind the projected returns and inflation rates. IFM as a leading Financial Planner in India also reviews your financial plan regularly as we live in a dynamic world where our goals, resources and conditions keep on changing over time. IFM provides very user friendly online platform - FINANCIAL HEALTH CHECK tool to do financial planning.
IFM India follows the following process for financial planning: