This Is Why
We Should Work Together
Your financial wellness is my vision.
I work with my clients jointly to help them plan their finances and make well-informed financial decisions.
As an expert financial planner, I deeply understand their needs and provide purely professional advice keeping client’s interests of utmost priority. Every suggestion will be personalized, keeping today’s comfort in the mind while still planning responsibly for tomorrow.
Why Choose me?
TRUSTWORTHINESS is a BIG factor when it comes to money matters. Because nowadays you notice that world is filled with SELLERS in the name of advisers, bankers, planners etc. Hence, identifying the CONFLICT-FREE planner for you is the biggest task.
Have me as your accountability partner that focuses on you, not on selling financial products.
Which Expert Should You Hire?
Fee-Only Financial Planner
A Fee-Only Planner is someone who charges a fee for financial plan creation and advisory and does not receive any commissions/incentives from mutual fund houses, insurers or other financial product sellers.
Because they are in no way associated or represented by Mutual Fund Companies, Insurance Companies or any other form of the product.
Hence, their only earning is from the fee they charge to their clients upfront.
Fee-Based Financial Planner
A Fee-Based Planner receives a fee for financial advisory and receives commissions from fund houses and/insurers for their recommended products.
The investment is done through the planner.
Hence, there is always the possibility of CONFLICT of interest when you work with such fee-based planners.
Why not get free advice from Banks, Mutual Fund or Insurance agents?
The service offered by banks, mutual funds or insurance agents appears to be free. Unfortunately, nothing is free, and the cost of free advice or incorrect product choice is usually very high. You end up paying more unknowingly.
Fee Only Financial Planning Services Process
Here Is How We Can Work Together Towards Your Financial Planning Journey
#1
You can directly book a video call with me by using a booking calendar at the bottom of this page or the website’s contact page. Alternatively, you can drop a WhatsApp message at +91 8180923895 or email me at salmasony.cfp@gmail.com.
Upon scheduling a 45-minute call using a calendar, you will receive an email invite with the Google Meet link to connect on the scheduled day and time.
During this call, I will focus on understanding your requirements, introducing how goal-based financial planning can help, and outlining the next steps.
#2
Once the process and fee are agreed upon, I will need your essential document as a part of KYC to proceed.
Once I have them, I will share with you the below mentioned three documents:
Letter of Engagement– This is a formal engagement letter, as SEBI Regulations require. If you agree to the terms, please use Aadhar-based OTP for the e-singing of the engagement letter.
Data Collection Sheet – This is an Excel template where you will provide details about your current financial status, including family information (financial dependents), goals, income, expenses, assets, liabilities, etc.
Risk Profiling Questionnaire – This is an editable PDF questionnaire with a multiple-choice question-answer format. You must download the pdf, choose the best-suited answer for all the questions, and send it to me for analysis to understand your risk appetite.
#3
After signing the Letter of Engagement by both parties (Client & Advisor), you must pay the fee to the provided bank or UPI details, completing our sign-up.
Upon receipt of the filled Data Collection Sheet and Risk Profiling questionnaire, I will schedule a 45-minute meeting to review your data in detail, including providing guidance on financial goals and addressing any queries you may have.
#4
Planning – I will prepare a financial plan with the data you provided after our data collection meeting. I take 2-3 weeks to study your case and prepare a customized financial plan thoroughly.
Execution – Once you receive the plan, I encourage you to review it thoroughly and list any questions or concerns.
In our next meeting, I will take you through the plan and address your queries to the best of my abilities. Once you clearly understand the plan, you can proceed with its implementation.
As I follow Fee-Only Financial Planning, implementing the financial plan is your (client’s) responsibility. However, I will assist you if you face difficulties during the implementation process.
#5
I encourage connecting to address any of your queries related to implementation support when needed. Formally, we meet semi-annually, where I will address below:
a) How well have you implemented the plan, and if any missing action needs to be taken care of?
b) How are your investments doing?
c) Understand if there is any change in your financial situation and clarify any doubts.
#6
I follow the annual review process for your financial plan. Upon renewal, I will review your goal’s progress.
Please note that even after I deliver the financial plan, you can always contact me during the one-year engagement period to discuss any matters related to personal finance, investing, or your financial planning.
Apart from the above, I will address any changes in your financial goals, cash flow, or any life situation impacting your financial plan as and when they occur. Your evolving needs are my priority.
Our Approach
#1
Establish and define financial planning process
During this process, we interact to know more about your current financial situation, investment experience, and the expectation from your end from a planner.
Also, we discuss and define the fee structure and the time horizon it takes to complete the process.
Once you agree to the service, I will send the agreement copy invoice and ask for the essential documents required to proceed.
#2
Data Collection
Once the client-planner relationship is established, I will send you the risk profiling questionnaire & data collection sheet, which you have to fill out and send back to me; this is the data collection process.
Make sure to share accurate finance-related data.
#3
Analyze and assess the financial status
Once you share the data with me, I will analyze and check with you in case of any clarification. We must sit together to understand each data you shared with me if needed.
Because before I proceed with planning, I must understand what each financial data means for you and how crucial they are for financial planning.
#4
Develop
After the above process, you have to give me around two weeks to design and develop a financial plan for you. A financial plan is a roadmap of your financial future.
Hence, once I share this plan with you, I suggest understanding each wording and step mentioned. You have to list down all your doubts for the next meeting.
#5
Implement the financial planning recommendation
During this process, we schedule a meeting to make sure I will clear all your doubts or questions concerning the plan.
Once you understand the concept of financial planning, the next step is to implement it.
Implementation means rejig your current investments (if necessary) or starting investments afresh. As I already referred, I am not associated with any financial company for selling the products to earn the commission; the implementation will be at your end.
However, I suggest the best way to implement it based on the products I recommended.
#6
Review of Financial Condition
Annual review and monitoring will ensure that you are on the correct path. Hence, it is an ongoing process of financial planning services.
However, it does not mean we have to interact only once a year. We do the review on investments once a year. However, if you have specific questions or doubts concerning your financial life, you can always approach me.
Revising the financial plan is sometimes required due to changing circumstances in your lifestyle, family needs, employment, and other external factors. Hence, such revision will also be part of the financial planning services process.
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