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With increase in life expectancy at birth increases the period of retirement. Consequently, it adds to the value of suitable retirement planning. Additionally, changing family systems (from joint to nuclear families), demand for more financial freedom in retirement rather than being dependent on children, there comes the need for retirement planning to enjoy higher inflation adjusted living expenses. Retirement planning is about ensuring that there is adequate income to meet the expenses in the retirement age of an individual’s lifecycle.

Income is the base of all financial plans and any event that will affect income of the individual will affect the achievement of the goals than financial plan seeks to achieve. Insurance can be used to protect the income so that the financial goals are not at risk. It is our duty to protect your interests from insurable risks in utmost good faith. It starts with identifying the insurance needed. The insurance needs vary with people and situations. It involves identifying the protection needs, estimation of insurance coverage, identifying the most suitable insurance product which maximize risk coverage and minimize insurance premium payments.

Every investment option can be described in terms of risk and return. Based on them, we classify them under different groups who have similar risk and return characteristics. There are three main asset classes viz. equity, debt and cash and cash equivalents. It starts with understanding investment objective followed by risk profiling. Then we align investment strategies with asset allocation and build customized portfolios for all needs. The portfolio can be equity portfolios, fixed income portfolios or mix of both (hybrid).

The dictionary meaning of financial planning is planning current and future needs and expenses. We create assets to meet our future expenses but financial planning helps apportion the available current income to immediate expenses and savings for the future. We prefer to buy loans to meet expenses and to create assets but we forget that loans creates liabilities. And these liabilities are to be settled in future only from your future income. The efficiency with which a strategy is developed between ‘income and expenses’ and ‘assets and liabilities’ determines the financial health of an individual. Financial planning is required for everybody irrespective of how much you earn. Investing money increases its efficiency. By investing wisely, you can create wealth for the future and improve standard of living. Inflation is increasing the cost of goods and services and eating away your capital, income and wealth. You need to save money and invest it well. To enjoy tax benefits, you need to invest efficiently so that your tax doesn’t erodes your capital and in come continuously. There are two approaches for financial planning viz. Goal specific and comprehensive financial planning. In goal specific, each financial goal is looked in insolation and a dedicated investment plan is made to realise the financial goals. Comprehensive financial planning takes a holistic approach and view all goals in consolidation. The investment plan too is a consolidated one. Comprehensive planning is better if there are multiple financial goals.

It is the complete bundle of investment advisory and investment portfolio management services. It caters to all financial problems of an individual and builds comprehensive strategy.