Financial Planning – Benefits, Options, Tools & Analysis

Updated on

Get your personalized Financial Plan Now

  • Tailor-made investment plan for you
  • Detailed session with a certified Financial Advisor
  • Current investments analysis & building a goal based plan
  • Continuous monitoring of plan to keep goals in sight
  • Single Dashboard to track MF, Insurance, FD, PPF etc in 1 click
  • In association with Certified Investment Advisers
ClearTax is trusted by 25 Lakh Indians

A goal without a plan is just a wish !

Certified Investment Advisers will help you with preparation of your personalized financial plan.
Determining your current financial situation
Developing financial goals
Identifying alternative courses of action
Creating, implementing and revising financial plan

Your Personalized Financial Plan will help you in

  • Building a Financial Plan for you post a personalized end to end advisory session
  • Preparing a foundation for financial planning activities by determining your current financial situation with regard to income, savings, living expenses, and debts.
  • Deciding financial goals for you to differentiate your needs from your wants
  • Creating a tailor-made plan to achieve your financial goals by understanding your existing portfolio and reviewing your cash flow
  • Evaluating possible courses of action taking into consideration your life situation, age, personal values, and current economic conditions
  • Understanding and evaluating risk associated with current portfolio and instruments that you want to invest in
  • Providing assistance in execution of necessary investments for your financial plan
  • Regularly assessing your financial decisions and strategizing accordingly, hence helping you keep your goals in sight

Objectives of financial planning

Financial practice allows you to have a secured future by allowing you to plan for days ahead.
To decide on the investment purpose
Any saving or investment should start with a purpose. This can give investment a roadmap. For instance, say, you are 30 years old and want to plan for your retirement. You have 30 years to save. Your goal is to get a monthly pension from age 60 to age 80.
To determine how much you need
Once you prepare the roadmap, use an online retirement calculator to know how much you will need and how much you should invest. No matter what your goal is, there are financial calculators for every investment available online. See if it would be practical for you to set aside that amount after all your expenses regularly.
To structure the investment
You may choose to invest on a monthly, quarterly or annual basis. Don’t forget to consider your current assets. Investments can range from short-term (towards buying a SLR camera) to long-term (towards buying a house or retirement) to meet your diverse needs.

Your Financial Plan will help you meet your life goals

  • Planning your investment ensures that you keep a good cash flow
  • Cushion the uncertainties and big expenses like wedding or children’s education
  • Build a better understanding of your savings
  • Helps you manage EMI and credit card debts in a disciplined manner
  • Save maximum amount on taxes as allowed under Section 80C of ITR Act

Frequently Asked Questions

  • Who are the experts that will provide Financial Planning Assistance?
    We have multiple certified advisors who have more than 20 years of experience each in the area of Financial planning and portfolio management.
  • How will my financial planning be done?
    Our experts use proprietary technology to develop customised plans as per the financial goals of each customer.
  • Who are our existing clientele?
    Our clients include CXO’s and top management professionals of MNC’s.
  • What is the fee for Financial Planning?
    Our Financial Planning services start from 4999. However, we will charge separately for Face to Face meetings.
  • What is Financial Planning?
    Financial Planning is the process of developing strategies to help people achieve their life goals by managing their financial affairs. It often covers Cash Flow Management, Retirement Planning, Insurance and Tax Management.
  • Who is a Financial Planner?
    A Financial Planner or Financial Advisor is a certified professional who prepares Financial Plans for individuals. If you are trading in options then the turnover will be the total of positive and negative converted into positive figure of all the transaction and the premium received on sale of options.
  • Do You Need a Financial Planner?
    Every individual who wants to meet short and long term financial goals, needs a Financial Planner.
  • What is a Certified Financial Planner (CFP ® ) Professional?
    A Certified Financial Planner is an individual who has met stringent requirements of education, examination, experience and ethics. A CFP is authorized to draft Financial Plans.
  • What are the benefits of working with a financial planner?
    They determine your current financial situation with regard to income, savings, living expenses, debts and also help in mitigating risks associated with your investments.
  • How often will my financial plan be reviewed?
    Financial Plans are created with assumptions. To achieve goals in time, these assumptions need to be monitored on a quarterly or yearly basis.
  • What is included in our financial planning services?
    Our Financial Planning Services include end to end wealth management. Some key services are Cash Flow Analysis, Existing Portfolio review, Tracking of investments by dedicated analysts and Yearly Performance Report.
  • Do you guarantee any rate of return for my investments?
    Rate of returns vary from one investment instrument to another. Rate of returns are never guaranteed, hence the need to plan investments.
  • Who has custody of my money when I hire you to manage it?
    All your investments will be in your name and its can be tracked online also
  • What is your Investment Philosophy?
    We have contrarian investment style in which we suggest for investment when market is low and sell during market high following asset allocation.
  • How many clients do you currently have?
    We are currently handling 1000 plus paid services client and 3,000 plus retail client.
  • Do you help with things such as planning for college tuition, buying or leasing a car, refinancing, etc?
    Yes as a part of financial planning we take care of all other investments that shall be made in future
  • Will I have access to my investment accounts on the Internet?
    We will provide online login to view the investment
  • Will you file our tax returns?
    Yes, we will help in filing tax return.
  • Will you create or modify our estate-planning documents (e.g., living trust, Will)?
    We will help in creating will and get it connected with required person for the same.
  • Does the firm have relationships with CPAs, estate-planning attorneys, and other professionals I may need?
    We work closely with the right people who take care of these activities In case any tax due comes up, then pay the tax first via challan 280 online then fill the details of the challan in the tax paid tab under self tax payment sub tab to proceed to file your return.
  • Do I need to sign a contract that locks me with ClearTax for a set period of time?
    There is no lock in of agreement. By clicking on “Buy Now” you agree to our Terms and Conditions.
In association with -Investment Adviser – RIA Number INA200002601

All Articles

  1. The sooner you start, the better for your retired life. We have covered the following in this article.
  2. Know all about EPF and EPS and the difference between them in this article. Also know about the calculation of EPF and EPS, and how transfers are treated.
  3. Insurance and investment are two of the essential parts of personal finance. Know which of the two are picked up based on varying preferences of a person.
  4. In addition to the Centre’s package, each state of the country has announced relief packages focusing on the most affected societal segments of their respective states. Here is a list of the packages in the order of the states.
  5. Smt Nirmala Sitharaman announced a package of Rs 1.70 lakh crore under Gareeb Kalyan Yojana. This article explains the benefits for various sections.
  6. Individuals choose a card based on these categories. There are basic cards that a beginner prefer and there are air miles cards that can get you free flights.
  7. A credit card is a thin rectangular plastic card issued by a financial institution; allows a cardholder to borrow funds to pay for the purchase of goods and services.
  8. Immediate Payment Service (IMPS) is a service provided by banks to ensure real-time inter-bank funds transfer.Know more about What is IMPS Transfer, IMPS Payment, Timings & Limit
  9. Real-time gross settlement (RTGS) is a system that performs continuous real-time fund transfers.Know more about the What is RTGS fund transfer? & Benefits.
  10. Market risk and volatility are integral parts of equity investments. Nobody is in a position to manipulate and control the market as per their requirement. Fluctuations in the market is inevitable and you can rely only on hedging strategies to secure your equity-linked investments.
  11. Who doesn't want to be a crorepati? 'Kaun Banega Crorepati' isn't the only way. Explore these investment options that could make you a crorepati in 15 years.
  12. What is book value? How does it affect your investment decision? Here is a simple guide to answer all your queries about book value.
  13. If you have decided to invest in a home and have already crossed your 30s, don’t worry. You can still work out a sensible investment plan and own a house in near future. Let us help you with the same.
  14. Age based investment planning allows investors to make adjustments to their financial portfolio depending on their earning capacity, the risk profile and the risk appetite based on what phase of life they might be at.
  15. Understand the various types of stocks and their classification. There are three main types of stocks; common stock, preferred stock and share classes. This article will help you grasp the basics of stocks, along with giving you a glimpse of how to buy and sell them.
  16. An IPO takes place when a private company makes its stocks available to the public for the very first time, in order to raise the investment capital. It is also referred to as “going public”. This forms the first instance when a company offers a part of its ownership to its stockholders.
  17. A trading account and a demat account are the prerequisites for participation in the stock markets. Understand how they differ from each other and what role each plays in the buying and selling of shares in the securities market.
  18. It is better to save something than not save anything at all. SIP is a way to encourage you to invest small and build wealth over time.
  19. With more disposable income in hand, it is important to invest more in your 30s. This is the time when your career graph and income shoot up - leaving you a long investment horizon.
  20. Interest is the price of borrowing or lending money and they are of 2 types - Simple Interest and Compound Interest. See how they make a difference to your savings.
  21. It is better to have the money right now than later - Time Value of Money or TVM is a concept based on this.
  22. Dividends - You earn dividends when fund houses decide to share their profits with investors. Opt for dividend plans to enjoy regular and additional cash flow.
  23. There is a simple concept to generate a monthly income by smart investing. If you seek to reap a regular stream of income for the rest of your life, here are some tips that will help you plan your finances accordingly.
  24. Stock market analysis enables investors to identify the intrinsic worth of a security even before investing in it. All stock market tips are formulated after thorough research by experts. Stock analysts try to find out activity of an instrument/sector/market in future.
  25. You need to understand that growth and value investing are dynamic concepts. When you realise the intrinsic value in a value stock is realised, it doesn't remain a value stock. Similarly, when price of a growth stock falls substantially, it loses the growth attribute but still retains a lot of value
  26. Financial Planning is a versatile domain that covers various aspects of life like managing money, investing, planning for retirement, managing debt, real estate planning and tax planning; both at the individual level and at the family level.
  27. Unlike an equity investor who buys stocks with the intention to invest, intraday trading is about buying and selling your holdings during the same trading day. The main objective of the trader is to make profits by taking the advantage of stock market movements. Read on to know more.
  28. A stock market index is a statistical measure which shows changes taking place in the stock market. To create an index, a few similar kind of stocks are chosen from amongst the securities already listed on the exchange and grouped together. Read on to know more.
  29. Today’s modern woman is strong, independent, and infinitely capable of taking care of herself and those she cares about. Many women today are financially empowered to become the best version of themselves. Read this article to know about the better ways of investing.
  30. Equity markets can seem puzzling and investing in multibagger stocks can put budding investors in a dilemma. Sometimes the market price of a stock might not reveal true picture about the company. It might be selling cheap either because of being undervalued or it could simply be worthless to buy it.
  31. Financial planning is the process which provides you a framework for achieving your life goals in a systematic and planned way by avoiding shocks and surprises. Read on to find out the top 10 rules that help to plan your finances better.
  32. Goal Planner / Future Value Calculator helps in Retirement Plans, Goals in Life, Personal Goals, Financial Goals and tell you How to Achieve Goals.
  33. Calculate your Net Present Value with ClearTax Online NPV Calculator. Know about NPV, how it is calculated, disadvantages & how it is different from IRR.
  34. Plan your child's marriage with ClearTax Marriage Planner & Cost Calculator. Know about the benefits of future marriage planning and how much should you invest for your child's marriage.
  35. Education Planning Calculator : Plan your child's bright future with ClearTax Education Planner & Cost Calculator. Know about the benefits of future education planning and how much should you invest for your child's education.
  36. Plan your savings with ClearTax Retirement Planning Calculator. Know about benefits of calculating your savings & get to know how much you should save for your retirement.
  37. To ensure that your rainy-day fund can see you through the years, it is important to invest in inflation-beating market instruments. Read on for more...
  38. The year has just begun and you might be looking for smart investments to deploy your hard-earned money. Here's a list which you may refer as a kick starter