Financial Planning - Are You on Track to Your Goals?

Running head: FINANCIAL PLANNING
FINANCIAL PLANNING
Name of the Student
Name of the University
Author Note

FINANCIAL PLANNING1
Executive summary
The aim of this report is to analyse the need of financial planning in the life of an individual
and how financial planning can help an individual in achieving his or her financial objectives.
This report also highlight the various process and the regulatory guidelines that a financial
planner should maintain while framing the financial plan of an individual.

FINANCIAL PLANNING2
Table of Contents
Introduction................................................................................................................................2
Question (a)................................................................................................................................2
Question (b)................................................................................................................................3
Question c).................................................................................................................................3
Question (d)................................................................................................................................5
Question (e)................................................................................................................................6
Question (f)................................................................................................................................7
Question (g)................................................................................................................................7
Conclusion..................................................................................................................................7
Reference....................................................................................................................................8

FINANCIAL PLANNING3
Introduction
The financial planning is an important technique that guides an individual to fulfil his
or her personal financial objective. In the modern days with the increase of complexities in
personal life and work pressure it is difficult for individuals to look after their financial
matters and that often leads to the situation of the occurrence of financial crisis. Financial
advisors play a crucial role in solving this problem by giving suggestions to the common
people and bring awareness among them so that they can live a comfortable life after their
retirement.
Question (a)
During the start of the interview it is essential to explain billy about the contents of
the financial safety guide (FSG), which contains the following details
 Selecting the Australian financial services (AFS) license provider and determining the
responsibility of the advisor who will provide the financial services.
 The nature of service that the advisor is authorised to render to the client
 The personal details that are required to be collected from the clients and how the
privacy of such confidential information will be maintained.
 The fees that will charged by the advisor with the details of every services and the
rates of such services should be segregated properly.
 The type of services that are to be reviewed which includes the occurrence of formal
reviews and the other mode of communications like newsletter, remuneration charged
and arrangements for extra reviews.
 Arrangements for referral