Documents Required for Comprehensive Financial Plan

The documents a financial planner would need to review in order to prepare a comprehensive
financial plan:
1. Insurance Documents
Documents to be reviewed
Single Premium Annuities
Flexible premium Annuities
Single premium life insurance
Universal Life insurance
Term Life insurance
Medical Insurance
Disability Insurance
Home Owner’s or Renter’s Insurance
Automobile Insurance
Umbrella Liability
Professional Liability
(Grant, K,. 2019).
Where a client would obtain such documents?
These documents can be found online or offline or calling over the phone to
respective service provider or company/agent/financial advisor from
where/whom you got the policy. One can get these documents by calling to
respective company’s customer care number and letting him know your
insurance policy number, in few hours time they will provide you your policy
documents in your provided E-Mail ID or can send you to your postal address
given in your policy documents within 2-3 days time. (DELBRIDGE, E. 2019).
The purpose of each document for financial planner

Financial Planner needed these documents to assess your insurance need, how
much insurance cover do you have, presently, and, does your insurance cover
required any changes, like increasing or decreasing your insurance cover as
per the assessment of financial advisor?
2. Banking Statements
Documents to be reviewed
Checking Account
Saving Account
Credit Union
Money Market Account
Certificates of Deposits
(Grant, K., 2019).
Where a client would obtain such documents
Documents related to bank statements, whether it is saving account, current
account, credit account or any documents, these days can be downloaded
online by accessing your online bank account (if your online banking account
already activated) or even get offline account statement or any other related
documents by visiting your Bank personally. It can be get in few minutes to
few hours time maximum.
The purpose of each document for financial planner
To get to know about your current emergency fund status, financial planner
asks you for these documents. Generally, through this they assess your at least
3-6 months emergency fund status, review it and finally advise accordingly.
So that, in any emergency scenario, one should has minimum balance in his
saving or liquid fund account.

3. Investment Statements
Documents to be reviewed
Bonds
Stocks
Mutual Funds
Unit Investment Trust
Variable Annuities
Variable Life Insurance
Where a client would obtain such documents
These documents can be found online or offline or calling over the phone to
respective service provider or company/agent/financial advisor through
where/whom you invested your money in respective instruments, that is,
mutual fund, Stacks, bond or in any other investment. One can get these
documents by calling to respective company’s customer care number or their
authorise agents and letting him know your insurance policy number, in few
hours time they will provide you your policy documents in your provided E-
Mail ID or can send you to your postal address given in your policy
documents within 2-3 days time.
The purpose of each document for financial planner
Generally, purpose of these documents would be to estimate one’s current net
worth, what is total investment he/she has and what are the shortcomings or
gaps in his/her investment are there. Whether, all investments are tilted
towards debt instruments, like, bank fixed deposits, government bond, etc. or
it has mixed of both debt and equity investment, what are the ratio of debt and
equity investments, as per his age, risk taking capacity, income and liability.