Nine compelling reasons why you need a personal financial planning advisor...

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to reachyourviews@gmail.com)

Financial Planning is a process where in you identify your future goals and objectives based on the current scenario. The current macro economic dynamics necessitate a professional approach to financial planning. Macro factors like the economic growth, inflation, interest rates, corporate performances, equity markets and the micro factors like the individual's career growth, disposable savings, goals and objectives combine to influence the financial planning process.

A hard core financial planning advisor will be able to give a robust road map to the future with necessary adjustments based on the prevailing conditions. 

It's vital to have financial planning advisor for the following reasons:

1. To restructure chaotic personal investments:

For various reasons, mainly due to lack of time, our portfolios are generally not in order and not properly structured. Do we have enough insurance cover on life and health? Are we invested on a proper asset allocation model? Can we restructure the portfolio? What are my goals and objectives? are some of the queries one might be faced with.

 

2. You are very busy and working hard; which leaves no time for personal financial planning: 

 

It's good that you are very busy and working hard, which is a sign of prosperity and faster growth. But should not be at the expense of your personal goals and objectives. It's critical that you deploy all your financial resources very effectively and that may not be possible for you with time being a major constraint. Hence the necessity of a personal financial advisor.

3. You need a financial planning coach to achieve your overall financial success:

With the tremendous flow of information in the internet, every one can attempt to do their bit of financial planning on their own. But a dedicated coach can definitely do a much better job. Remember the world champions in the sports do have coaches... Likes of Roger Federer, Rafa, tiger woods have had coaches. Though they know their games well, coach takes care of the game plan. Think about it. 

Remember getting information off the internet is like drinking water from the fire hydrant.

4. Dynamic financial markets and dynamic personal goals need  attention all the time:

Financial markets and personal goals are quite dynamic in nature. They need constant review and re-adjustments to suit to the current scenario. A financial planning advisor is better placed to constantly monitor and make the necessary changes in the plan.

5. Financial planner guides your money to work hard, as hard as you work for earning that money: 

Keeping your hard earned money idle or in a bank is not a good idea at all. Given the fact that there lot of avenues to park the money quite effectively.  Let your money work as hard as you work for earning that. A financial planning advisor is better placed to do this job.

6. Financial Planning advisor for one stop investment solutions:

With the kind of work schedules we pursue, its just not possible to effectively manage the nuances of financial planning on our own. Keeping a track of products, investment choices, constantly changing personal priorities, monitoring the economic environment is best left to a professional financial planner who can deliver the solutions effectively.

7. Financial planner will help you prepare your goals in a SMART way:

Our careers/jobs are getting quite dynamic and it definitely makes sense to have clear plans and goals for securing our future. Priorities undergo constant changes. Goals can be short term or long term, personal retirement or children future,  but they are better off by planning  well in advance. There are attractive ideas for planning them in a SMART way through a financial planning advisor.

8. Financial future is a long road ahead; a financial planner can effectively guide you through:

It's quite difficult to predict things on our personal or professional front, as we live in a very dynamic world. But the uncertainty can be managed to a large extent by making solid financial planning for the longer term. So try out and make solid financial plan and its the job of the financial planner to plan, review your goals and objectives and make necessary adjustments in the financial plan.

9. Millionaire or not; you still need a financial planning advisor:

Millionaire or not, you still need a financial plan/ financial planning advisor, off course the priorities differ for each one of them. But it's relevant for anyone who has goals and objectives for securing their future.

In your and your financial future's interest, its best to have a financial plan in place. 

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to reachyourviews@gmail.com)

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