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The
Pentad Group believes that financial planning is simply
a process designed to help you achieve your lifestyle
objectives.
As
with any successful process there are clearly defined steps, which
can be summarised as follows:
Step
1 – Understanding where you are right now
Before
we can work out how best to achieve your lifestyle objectives, we
need to have a thorough understanding of your ‘starting point’.
What are your assets; what do you owe; what is your income; what
income do you actually need; what do you know about different types
of investments; and, how comfortable are you with them?
We
will spend time with you in order to build up an accurate picture
of your current situation.
Step
2 – Where do you want to go?
Also
fundamental to working out how best to achieve your lifestyle
objectives, is an understanding of where it is you want to go; what
are your lifestyle and financial objectives this next, next year,
and in ten years time. Most of us have a notion of what we would
like our future to look like. We can help turn these notions into
specific objectives.
Step
3 – What can stop you from getting to where you want to
go?
Having
established where you are right now and where it is you want to go,
we will identify any issues that might prevent you from achieving
your objectives. Sometimes these issues can be resolved, other
times your objectives may need to be reviewed.
Step
4 – Your ‘Wealth Plan’
The
above three steps form the basis of the ‘Wealth Plan’ that we will
then proceed to prepare for your consideration. Your Wealth Plan
will provide clear recommendations in terms of the specific
strategy, structure, and investments that will help you achieve
your lifestyle objectives.
Step
5 – Implementing your Wealth Plan
Having
prepared your Wealth Plan, we will then present it to you, stepping
you through the key features and benefits of our recommendations.
If we have done our job properly your Wealth Plan should capture
the issues and considerations relevant to you, and be one that you
are comfortable in implementing. We will, of course, be pleased to
implement our recommendations, or assist you in doing
so.
Step
6 – Ensuring that everything continues to go according to your
Wealth Plan
Implementing
your Wealth Plan is not the end of the process. It is however, the
‘end of the beginning’. Over time, as your circumstances and
objectives change (and they will), we will review how your overall
strategy is ‘tracking’ in meeting your objectives, and if
necessary, recommend amendments to your overall strategy as
appropriate.
The
following diagram illustrates the financial planning
process.
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