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Finance & Accounting
Pages 6 (1506 words)
Financial planning Contents Contents 2 Financial planning: Needs and Issues of the client 3 Home and health planning 3 Educational Planning 3 Investment planning 4 Risk Management 4 Financial planner’s assistance to the client 4 Assistance: Home and Health needs 4 Assistance: Educational needs 5 Assistance: Investment needs 5 Assistance: Risk mitigation 5 Analysis of the Fact Finder document 6 Strength and weakness 7 References 9 Financial planning: Needs and Issues of the client The various needs and issues of the client that have been identified in the various areas of financial planning are given as flows.
The purchase of own residence would require one time down payment for the property. The salaries and the income of the household are mostly spent in the expenses for livelihood and therefore the source of funds is an issue for the couple to purchase the property. The couple is also worried about Vincent’s health as he is prone to heart attack as a hereditary symptom for which the family needs idle funds during emergency. The third on the priority list is to plan for a holiday tour in Europe which is desired by the client. Educational Planning Vincent and Linda are concerned about the high school education of their child Julie who is about 3 years old at present. The couple want to save for their child’s education in about 9 years time for which they wanted to start saving. The issues related to the education planning of their child is that Vincent may lose his job of an accountant due to strategic take-over of his employer by another bigger player in the industry. ...
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