Financipal Planning Report (Sample)


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Financipal Planning Report (Sample)

  1. 1. Financial Plan Of-Mr. Mr. Girish KumarRoad Map To Your Financial SuccessPrepared For:Mr. Girish KumarYour Own Adviserwww.yourownadviser.comContact : 1111111111/0E-mail : enq@yourownadviser.comPrepared by
  2. 2. Financial Plan Of-Mr. Mr. Girish KumarWebsite : by
  3. 3. Financial Plan Of-Mr. Mr. Girish KumarContentsTitle NoTitle Name1Personal Information2Cash Flow Management3Contingency Planning4Networth Assets5Networth Liabilities6Financial Ratio7Dreams & Goals8Goal Funding9Asset Allocation (Lumpsum)10Asset Allocation (Monthly)11Insurance Planning12Retirement Planning13Disclosure Statement14Financial Planning ContractPrepared by
  4. 4. Financial Plan Of-Mr. Mr. Girish KumarComprehensive Financial PlanDear Mr. Mr. Girish Kumar ,We would like to thank you for providing us with the opportunity of charting your financial plan.As you are aware our objective is to accurately assess your financial needs and to provide qualityrecommendations and ongoing service in accordance with those needs.Particular consideration has been given to developing a long term plan which will assist youaccumulate assets to provide for your long term goals such as your children’s education andmarriage, your retirement plans etc while preserving your current lifestyle.This plan and our recommendations are based on the information provided by you through thedata collection sheet. Therefore, the plan will be regularly reviewed and updated in accordancewith changes in your needs and circumstances.We assure you that all information we have gathered from you will be retained in a secure locationin the confines of our office and will remain confidential at all times.Please let us know if you require any clarifications and/or modifications in the plan and we shallproceed accordingly.We look forward to working with you.Best Regards,www.yourownadviser.comYour Own AdviserPrepared by
  5. 5. Financial Plan Of-Mr. Mr. Girish KumarLetter Of EngagementDear Mr. Mr. Girish Kumar ,This letter is meant to give you a better understanding on what you may expect from the financialplanning process and what our respective obligations are within that process. It will also confirmthe terms of our recent discussions regarding financial planning services.As part of each process, you will furnish us with complete and up-to-date information about yourpersonal financial circumstances and investment objectives. Once all relevant information isassimilated, we will analyze your present financial situation, which may include a review ofpertinent assets, liabilities, current and projected cash flow, investment portfolios, and taximplications.On the basis of the information you provide, we will produce a written report and recommendedaction. Your written report will refer to such things as your specific objectives, time horizons, riskprofile, tax implications, performance expectations, asset allocation and portfolio managementinformation.All information given to us by you and all recommendations and advice furnished by us to you willbe kept confidential between us and will not be disclosed to anyone except as we may agree inwriting or as may be required by law.The broad-based custom financial planning service provides a single written report containingrecommendations in all relevant areas of your financial well being and may include strategiesregarding cash flow, investment portfolio management, retirement planning, income tax and estateplanning.The fee for your Comprehensive Financial Plan has been determined by our mutual agreement andis Rs.10,000 and is due upon acceptance of this Engagement Letter. To avoid futuremisunderstandings, this fee is for the written financial plan alone and the plan shall contain all ofour recommendations to you as on the date of its delivery and includes first year plan review.If you decide to implement our recommendations, we may ask you to make your investmentsthrough our company without any obligation on your part. This will be considered as a separateservice. The fees charged to you under this agreement does not take into consideration anycommissions, fees that we may receive from various companies for investment products soldthrough us, for which there may arise a conflict of interests.A review and update of a previously written report, due to events such as changes in tax laws oryour personal financial situation, is also available as a new and separate service. This service is toreassess your financial objectives, progress and circumstances to date and make appropriaterecommendations. The fee for your Financial Review and Update Plan as determined by our mutualagreement is Rs.2,500 and is due on acceptance of this letter.We emphasize that the financial plan writing service described above are separate, stand-aloneadvisory services and you are not obligated to make any investments through us. You also are freeto associate with any brokerage firm, insurance or real estate agents or other vendors you desirefor the implementation of your plan objectives.If at any time you feel that you are dissatisfied with this agreement, you may terminate it by givinga written request.Prepared by
  6. 6. Financial Plan Of-Mr. Mr. Girish KumarWe regard the responsibility for providing competent and reliable services to you are a veryimportant step in maintaining a close and personalized relationship with you. It is a relationshipthat involves an ongoing exchange of relevant information between you as our valued client andus. We view this interactive relationship as vital to the overall success and achievement of yourfinancial objectives.If you understand and accept the above terms, please sign our agreement below and return onecopy of this letter to us.Thank you for confiding in us to assist you in achieving your financial goals and objectives. We lookforward to serving you to the best of our ability.Sincerely,ForYour Own AdviserCertified Financial Planner:www.yourownadviser.comDate :5/23/2013Client: Mr. Mr. Girish Kumar Date :5/23/2013Prepared by
  7. 7. Financial Plan Of-Mr. Mr. Girish KumarMobile noOccupationPAN noDOBNameRelationshipPersonal InformationPersonal InformationClientSelf Mr. Girish Kumar 04/26/1966 AAAXXXXX11 Salaried 9665009616PartnerPartner Mrs. Bindu Kumar 05/25/1973 ABDCDXXXX Salaried 9665009616DependentSon Sumesh Kumar 03/19/1998 Student 0Daughter Suma Kumar 08/21/2009 Student 0Prepared by
  8. 8. Financial Plan Of-Mr. Mr. Girish KumarAssesment of your current Financial StatusCash Flow Management is a system, not a budget. It allows you to see your financial situation froma long-term, systematic viewpoint. You will see how one move, such as a periodic tax payment,canaffect your disbursements for several months prior to, and following, the actual payment.A Personal Cash Flow Management System, if used consistently, can be of great value in helping togain control of your personal financial situation. It will ensure that there is always cash available topay bills as they come due. It will also help you save more money in a systematic way.Time is your greatest ally. The more time you have, the less money you will need to save andinvest. The less time you have, the more money it will take. Procrastination is a deadly enemy ofyour goal to retire with financial dignity.Income and Expenditure Statement of the current yearCash Flow ManagementIncome Monthly (`) Annually (`)Business Income 00Inc. From HUF 00Inc. From Inv. (Dividends) 48,0004,000Inc. From Inv. (Interest) 00Income Salary 5,820,000485,000Rental Income 306,00025,5006,174,000Total : 514,500Prepared by
  9. 9. Financial Plan Of-Mr. Mr. Girish KumarExpenses Monthly (`) Annually (`)Children Education/Dependent Fees 180,00015,000House Hold 240,00020,000House rent 204,00017,000Lifestyle (includes shopping, movies, dinners etc) 00Medical Expenses 12010Travel 00624,120Total : 52,010Committed Savings Monthly (`) Annually (`)General Insurance 10Life Insurance 19,3551,613PPF 10,500875Saving Schemes 352,63229,386SIPs 84,0007,000466,488Total : 38,874Repayments Monthly (`) Annually (`)Personal Loan 864,00072,000864,000Total : 72,000Net InflowNet Outflow(Expenses+Committed Savings + Repayments)Net Investible Surplus6,174,0001,954,608514,500.00162,884.00351,616.00 4,219,392Prepared by
  10. 10. Financial Plan Of-Mr. Mr. Girish Kumar42193928640004664886241206174000IncomeExpensesCommitted SavingsRepaymentsInvestible Surplus0100000020000003000000400000050000006000000700000001000000200000030000004000000500000060000007000000In INRIn INRCash Flow ManagementPrepared by
  11. 11. Financial Plan Of-Mr. Mr. Girish KumarBusiness Income 0.0%INR 0Inc. From HUF 0.0%INR 0Inc. From Inv. (Dividends) 0.8%INR 48,000Inc. From Inv. (Interest) 0.0%INR 0Income Salary 94.3%INR 5,820,000Rental Income 5.0%INR 306,000Total: 100.0%INR 6,174,000Income StructureExpenses 31.9%INR 624,120Committed Savings 23.9%INR 466,488Repayments 44.2%INR 864,000Total: 100.0%INR 1,954,608Outflow StructurePrepared by
  12. 12. Financial Plan Of-Mr. Mr. Girish KumarContingency PlanningContingency PlanningContingencies can arise due to many reasons like Job loss, health problems, temporary Disability,etc.Contingencies can result in reduction or stoppage of ones income. But regular living expenses need tobe taken care of anyway. So, a well thought out and planned Contingency Fund for such situations canbe a great help.A Corpus equivalent of 3 - 6 months of Living expenses plus committed outgo kept inliquid form is highly recommended.Emergency funds should be invested in shortterm investments such as savings, liquid funds or BankDeposits.Objectivea) Maintain an emergency fund in the range of Rs.266,652 to Rs.533,304 to cover 3 to 6 monthsworth of living expenses.b) An emergency fund is important in the event of an unexpected job loss, reduction in incomeor to cover unexpected expenses.Current Situationa) Analysis of Funding: You have allocated Rs.132,600 to cover any unexpected expensesAssets allocated for contingency planning :Asset Type OwnerAsset Name Amount(`)Cash and CashEquivalentSaving Account-ICICI Bank Mr. Girish Kumar 35,000Cash and CashEquivalentSaving Account-IDBI Bank Mr. Girish Kumar 20,000Cash and CashEquivalentSaving Account-Indian Bank Mr. Girish Kumar 37,000Cash and CashEquivalentSaving Account-Oriental Bank ofCommerceMr. Girish Kumar 10,000Cash and CashEquivalentSaving Account-State Bank ofSaurashtraMr. Girish Kumar 10,800Cash and CashEquivalentSaving Account-State Bank ofTravancoreMr. Girish Kumar 19,800Prepared by
  13. 13. Financial Plan Of-Mr. Mr. Girish KumarTotal monthly expenses (including household,lifestyle,dependent, and other commited outflows)Net surplus/(shortfall)Fund available for emergencyIdeal funds req. for emergencyContingency period (months)88,8846533,304132,600-400,704Planner Note-400704533304132600Fund Availiable For EmergencyIdeal Funds Req. for EmergencyNet Surplus/(Shortfall)-600000-400000-2000000200000400000600000-600000-400000-2000000200000400000600000In INRIn INRContingency PlanningPrepared by
  14. 14. Financial Plan Of-Mr. Mr. Girish KumarNetworth as on 23-May-2013Your net worth is a snapshot of your financial life at one moment in time, a single numberrepresenting your financial health. It’s the total of everything you’ve earned and spent until today.Knowing your net worth is important if only for one reason: It forces you to interact with yourfinancial life, keeping you in touch with your money and knowledgeable about where you are on theroad to where you think you’re going.Amount(`)AssetsYour NetworthPersonal Assets 6,900,000Real Estate 16,500,000Commodities 805,000Mutual Funds 559,950Stocks 889,851EquityComponentULIP 0Saving Schemes 220,632Bank Deposits 4,518,002Cash and Cash Equivalent 132,600PPF Balance 316,500EPF Balance 27,500SAF Balance 50,00030,920,035Total AssetsPrepared by
  15. 15. Financial Plan Of-Mr. Mr. Girish KumarBank Deposits 14.6%INR 4,518,002Cash and Cash Equivalent 0.4%INR 132,600Commodities 2.6%INR 805,000EPF Balance 0.1%INR 27,500EquityComponentULIP 0.0%INR 0Mutual Funds 1.8%INR 559,950Personal Assets 22.3%INR 6,900,000PPF Balance 1.0%INR 316,500Real Estate 53.4%INR 16,500,000SAF Balance 0.2%INR 50,000Saving Schemes 0.7%INR 220,632Stocks 2.9%INR 889,851Total: 100.0%INR 30,920,035Asset StructurePrepared by
  16. 16. Financial Plan Of-Mr. Mr. Girish KumarAmount(`)LiabilitiesPersonal Loan 873,600873,600Total liabilitiesPersonal Loan 100.0%INR 873,600Total: 100.0%INR 873,600Liability StructureTotal AssetsNetworthTotal Liabilities 873,60030,046,43530,920,035Prepared by
  17. 17. Financial Plan Of-Mr. Mr. Girish Kumar3004643587360030920035240200356900000Personal AssetInvestments AssetsTotal AssetsTotal LiabilitiesNetworth040000008000000120000001600000020000000240000002800000032000000040000008000000120000001600000020000000240000002800000032000000IN INRIN INRNetworthPrepared by
  18. 18. Financial Plan Of-Mr. Mr. Girish KumarPersonal finance ratios are as important to an individual investor as are stock ratios to the health of acompany. You have stock analysts, market pundits, punters and ordinary investors predicting thepath of a stock after analyzing basic stock ratios like EPS and PE; however, none pause to think aboutthe personal finance ratios that could help to measure and analyze their fiscal health and contributeto their healthy financial planning.Savings RatioAs life spans increase and job spans reduce, we all need to build larger retirement corpuses to takecare of a higher number of non/less-productive years.The more you save, the more capital you willaccumulate. Thats simple logic. But too much saving, at the cost of not enjoying life today, is alsonot a great idea.Debt To Income RatioThe Debt to Income ratio tells you the total monthly income that you spend towards servicing any kindof debt you have - home loan, car loan, personal loan amongst others. The idea of the Debt to Incomeratio is to move from high debt and low savings to low debt and high savings.Basic Solvency RatioThis ratio captures the investor’s ability to meet monthly expenses in case of emergency. If yoursource of income stopped due to an emergency, for how many month’s will your money last ? Liquidassets will include cash in savings account, liquid mutual funds, cash in hand. However, direct equityand equity diversified mutual funds do not qualify as liquid assets.Monthly expenses should include all mandatory contributions of loans, EMIs, insurance premiums andhousehold expenses like food, utilities, transportation, education, medical care.Savings RatioYour Ratio(Calculated) Ideal Ratio25 %Debt To Income RatioYour Ratio(Calculated) Ideal Ratio<45 %Basic Solvency RatioYour Ratio(Calculated) Ideal Ratio3.001.4913.99%7.56%Personal Financial RatiosPrepared by
  19. 19. Financial Plan Of-Mr. Mr. Girish KumarClient Assumption DetailsMr. Girish KumarDescription PercentageLiquid Mutual Fund 6Debt Mutual Fund 7Equity Mutual Fund 12Real Estate 9Commodities 9Inflation Rate 7Expenses Growth Rate 9Rental Income Growth Rate 10Expected Retirement Return 9Expected Retirement Corpus Returns 9Expenses Growth rate (post retirement) 7Salary Growth Rate (Self) 5Salary Growth Rate (Partner) 5Expected Insurance Corpus Returns 6Stock SIP Return Rate 12Insurance Plans 7Ulip Return 10Step Up % 5Prepared by
  20. 20. Financial Plan Of-Mr. Mr. Girish KumarProjected AmountRequired(`)Years Left forGoal executionGoal NameAssesment of your future Needs and GoalsThe first step in personal financial planning is controlling your day-to-day financial affairs to enableyou to do the things that bring you satisfaction and enjoyment. This is achieved by planning andfollowing a budget, as discussed in the first part of the plan.The second step in personal financial planning is choosing and following a course toward long-termfinancial goals.As with anything else in life, without financial goals and specific plans for meeting them, we driftalong and leave our future to chance. A wise man once said: "most people dont plan to fail; theyjust fail to plan."The end result is the same: failure to reach financial independence.% of GoalFundedAmount requiredin todays term(`)Dreams & GoalsCar Purchase 5 701,276 4.00500,000Corpus for Start-up 8 1,718,186 18.001,000,000Property 10 4,917,878 25.002,500,000Others 7 802,891 95.00500,000Sumesh KumarGraduation3 3,544,075 28.002,893,021Suma Kumar HigherEducation13 8,714,665 9.003,616,276Suma Kumar Marriage 18 16,899,661 26.005,000,000Retirement Goal 8 13,052,118 44.000Prepared by
  21. 21. Financial Plan Of-Mr. Mr. Girish KumarROR onnew InvAmt reqd infutureYrs left forgoal execAmt reqd intodaystermGoalGoal FundingYour ability to maintain your lifestyle objectives for the future is determined by your currentinvestments and ongoing savings. In analyzing your situation we need to consider what isachievable given your current position, and how we can take best advantage of the assets you haveaccumulated so far.FV ofexistinginvStep UpInvRec.MonthlyInvRec.LumpsumInvRetirementGoal0 8 13,052,118 105,730,081 330602550132 41755Car Purchase 500,000 5 701,276 1023,519 4123308757 7771Corpus forStart-up1,000,000 8 1,718,186 10270,974 6534419909 8253Property 2,500,000 10 4,917,878 101,235,167 136304617998 14412Others 500,000 7 802,891 10761,413 20685343 292Sumesh KumarGraduation2,807,470 3 3,439,271 10975,510 182852758985 54763Suma KumarHigherEducation3,509,337 13 8,456,959 10766,180 211259424225 18363Suma KumarMarriage5,000,000 18 16,899,661 104,468,346 207746720745 14506Total 191,094 11,774,115 160,115Prepared by
  22. 22. Financial Plan Of-Mr. Mr. Girish KumarOver time, one of the most important factors in determining the return on your portfolio is the assetallocation that represents the mix of stocks, bonds and cash that you own.The appropriate asset allocation can help provide diversification of your portfolio, enhance returnpotential, lower overall portfolio fluctuation and position your portfolio to take advantage of developinginvestment opportunities.Based on the responses to the Risk Assessment Questionnaire, your risk profile is:AggressiveBased on your risk profile, we have shown below the asset allocation required to be done in orderto achieve your goals.Asset AllocationROR onnewinvRiskProfileGoalAsset Allocation (in case of lumpsum investment)Cash Gold Debt EquityMFDirectEquityRealEstateEndowmentPlanRetirementGoalAggressive10.45 NA 330603 826506 2148916 NA NA NACar Purchase Aggressive10.45 NA 41233 103083 268015 NA NA NACorpus forStart-upAggressive10.45 NA 65344 163360 424737 NA NA NAProperty Aggressive10.45 NA 136305 340762 885980 NA NA NAOthers Aggressive10.45 NA 2069 5171 13445 NA NA NASumesh KumarGraduationAggressive10.45 NA 182853 457132 1188543 NA NA NASuma KumarHigherEducationAggressive10.45 NA 211259 528149 1373186 NA NA NASuma KumarMarriageAggressive10.45 NA 207747 519367 1350354 NA NA NA0 1,177,412 2,943,529 7,653,175 0 0 0Total:Prepared by
  23. 23. Financial Plan Of-Mr. Mr. Girish KumarGoal RiskProfileCash RealEstateDirectEquityEquity MFDebtGold EndowmentPlanRORonnew invAsset Allocation (in case of monthly investment)10.45RetirementGoalAggressive NA 5013 12533 32586 NA NA NA10.45Car Purchase Aggressive NA 876 2189 5692 NA NA NA10.45Corpus forStart-upAggressive NA 991 2477 6441 NA NA NA10.45Property Aggressive NA 1800 4500 11699 NA NA NA10.45Others Aggressive NA 34 86 223 NA NA NA10.45SumeshKumarAggressive NA 5899 14746 38340 NA NA NA10.45Suma KumarHigherAggressive NA 2423 6056 15746 NA NA NA10.45Suma KumarMarriageAggressive NA 2075 5186 13484 NA NA NATotal 0 19,109 47,774 124,211 0 0 0Prepared by
  24. 24. Financial Plan Of-Mr. Mr. Girish KumarIt is extremely important that every person, especially the breadwinner, covers the risks to hislife,so that his familys quality of life does not undergo any drastic change in case of anunfortunate eventuality.If we can imagine a situation where our goals are disturbed by acts beyond our control, werealize the relevance of insurance in our lives. Insurance, simply put, is the cover for all the risksthat we run into during our lives. Insurance enables us to live our lives to the fullest, withoutworrying about the financial impact of events that could hamper it. In other words, insuranceprotects us from the contingencies that could affect us.You & Mrs. Bindu Kumar both require additional risk cover to ensure that your futurecontributions to your family’s expenses and goals are protected. We recommend that youconsider taking medical,householders and vehicle insurance, if you do not already have adequateinsurance for the same.Assumptions1) For calculation of corpus required for expense protection, the expenses have been inflated at9.00% with a rate of return on investments is assumed to be 6.00%.2) Assets considered for expense protection calculations - Rs.23,258,134 Out of your assets, thefollowing have not been considered:a. Motor Vehicle & Gold Jewelleryb. Self Occupied Propertyc. Any other assets which have been considered to meet your future goals3) Existing risk cover considered for expense protection calculations - Rs.580,845.00 for yourself.No other policies are considered as they mature before your retirement4)Existing risk cover considered for expense protection calculations-Rs.330,000.00 for Mrs.Bindu Kumar. No other policies are considered as they mature before your retirement5) Cover provided through employer has not been considered as it is dependent on your job andmay not be available if you decide to leave the current job.Your Life Insurance Analysis:Insurance PlanningDebt Repayment Amount(`)873,600Personal Loan873,600Total Debt Repayment:Existing Insurance Cover Amount(`)100,000LICPrepared by
  25. 25. Financial Plan Of-Mr. Mr. Girish KumarExisting Insurance Cover Amount(`)10,000LIC Bhima Kiran300,000LIC Jeevan Annad30,000LIC Jeevan Nischay15,000LIC Jeevan Sureksha255,845LIC Vaishtha Pension200,000SBI Life910,845Total Existing Insurance Cover:Expense Replacement Amount(`)34,749,278Present Value of Future Expenses34,749,278Total Expense Replacement:Goal Corpus Required Amount(`)3,616,276Suma Kumar Higher Education5,000,000Suma Kumar Marriage2,893,021Sumesh Kumar Graduation11,509,297Total Goal Corpus Required:Resources Available Amount(`)805,000Commodities0EPF0Liquid Account500,000Mutual Fund16,500,000Real Estate0SAF4,653,134Saving Scheme800,000Stock Portfolio23,258,134Total Resources Available:Prepared by
  26. 26. Financial Plan Of-Mr. Mr. Girish KumarTotal Cover RequiredTotal Resources AvailableTotal Existing Insurance CoverNet Cover RequiredYour Insurance CoverInsurance Cover of Mrs. Bindu Kumar910,84521,570,3271,392,86947,132,17522,963,19623,258,134Planner NotePrepared by
  27. 27. Financial Plan Of-Mr. Mr. Girish Kumar229631962325813491084547132175Survivor Coverage NeededExisting InsuranceResources AvailableAdditional Insurance Required0100000002000000030000000400000005000000001000000020000000300000004000000050000000In INRIn INRInsurance PlanningPrepared by
  28. 28. Financial Plan Of-Mr. Mr. Girish KumarRetirement PlanningRetirement planning, refers to the allocation of finances for retirement. This normally means the settingaside of money or other assets to obtain a steady income at retirement. The goal of retirement planningis to achieve financial independence, so that the need to be gainfully employed is optional rather than anecessity.The process of retirement planning aims to assess readiness-to-retire given a desired retirement ageand lifestyle, i.e. whether one has enough money to retire and identify actions to improvereadiness-to-retire.Current SituationIn order to maintain your life style after retirement, you would require a regular income ofapproximately Rs 282,000p.a. till you turn 85 years and Mrs. Bindu Kumar turns 85 years old.8 years from now (i.e. until your retirement - Dec2,021 ), you will incur expenses of Rs.561,903approx p.a. which translates to Rs.282,000.00 p.a. in today’s value. To generate this income, which willbe increasing at the rate of inflation and is required to last for your lifetime, you will need to accumulatea corpus of Rs. 7,321,797 approx at the time of retirement.Total Current Annual ExpensesNet Corpus requiredProvisions madeRetirement corpus requiredExpenses in the first year of retirement282,000561,90313,052,1185,730,3217,321,797Planner Note The present investment made is notsufficient to cover the retirmentPrepared by
  29. 29. Financial Plan Of-Mr. Mr. Girish KumarExisting Provisions made:Asset Type FutureValueSIP AmountAllocatedAmountAllocatedAsset NameBank Deposits NRE 912040014218255 156,905 0 221,484Bank Deposits NRE 912040051658337 315,940 0 445,974Bank Deposits NRE 158,396 0 205,128Real Estate Land K 1,250,000 2,490,703Mutual Fund HDFC FMP 370DNovember 2011 (1) -Growth Option22,000 0 37,800Mutual Fund HDFC TaxSaver-GrowthPlan1,190 0 2,946Saving Schemes 11212600000267 995,865 0 1,289,673Saving Schemes Axis NRE 379,865 0 536,211SAF NA 0 0 500,402Total 5,730,321Asset Allocation for New InvestmentsRate of Return Assumed is :10.45%TotalEndowmentplansRealEstateDirectEquityEquity MutualFundDebtGoldCashLumpsum InvMonthlyInv0 330,603 826,506 2,148,916 0 0 00 5,013 12,533 32,586 0 0 03,306,02550,132Prepared by
  30. 30. Financial Plan Of-Mr. Mr. Girish Kumar7321797573032113052118Retirement Corpus RequiredProvisons Made for RetirementNet Corpus Required0200000040000006000000800000010000000120000001400000002000000400000060000008000000100000001200000014000000In INRIn INRRetirement PlanningPrepared by
  31. 31. Financial Plan Of-Mr. Mr. Girish KumarDisclosure StatementThis document has been prepared to help you make important decisions regarding your financialfuture. Before reviewing the data, alternatives and options presented in this financial plan, pleasenote the inherent limitations associated with this information: The content of this report is based oninformation provided by you. Certain assumptions have been made about future investmentperformance, inflation rates, retirement benefits and other variables which are only estimates, withno assurance as to their attainability or ultimate outcome.Certain financial information contained in this plan, including the Net Worth summary and theIncome and Expenses summary, was created only to assist you and your advisor in developing yourfinancial plan. Accordingly, it should not be relied on for purposes of obtaining credit or for anypurpose other than developing your financial plan.Projections of future events are based on interpretations of existing laws, as well as assumptionsthat are described in the accompanying text. Furthermore, even if the steps in this document arefollowed, there may be material differences between projected and actual results because laws areupdated, events and circumstances frequently do not occur as expected, and the overall economicenvironment changes.YOU ARE UNDER NO OBLIGATION TO FOLLOW, IN WHOLE OR IN PART ANY OF THE ALTERNATIVESPRESENTED IN THIS PLAN OR TO PURCHASE INVESTMENT, INSURANCE OR OTHER FINANCIALPRODUCTS OR SERVICES THROUGH YOUR ADVISOR. Your advisor is not responsible for reviewingyour situation on an ongoing basis or updating these alternatives unless you sign a separate contractregarding those continuing services.Should you enter into an ongoing advisory arrangement,anadditional fee may be charged.Illustrations of insurance alternatives are presented only as guidelines and represent our generalunderstanding of the information available to us. Any analysis of legal or accounting issues relatingto your situation are for discussion purposes only and not intended to be a substitute for professionaladvice in these areas. Calculations illustrating income tax concepts and deductions,and investmentgains and losses are for illustrative purposes only and are based upon hypothetical situations.Consult with an attorney or accountant who specializes in these areas to counsel you on specifictopics related to your financial situation. Financial planning strategies are presented based uponfacts as stated above and on laws and regulations that are subject to change.The financial planning strategies presented in this document are intended only as a guide and not asa comprehensive financial plan. There may be a conflict of interest as the advice generated mayresult in product sales that benefit this firm.Prepared by
  32. 32. Financial Plan Of-Mr. Mr. Girish KumarFINANCIAL PLANNING SERVICES CONTRACTGENERAL PURPOSEBy this contract, you engage us to provide personal financial planning services, as described below,and Advisor agrees to provide these services.SERVICES TO BE PROVIDEDAdvisor will provide personal financial services in the form of a financial plan encompassing the areasspecified below. Financial plan will be summarized in a written document delivered to you and willreflect your current financial circumstances, your financial outlook, and your personal objectivesPERSONAL FINANCIAL PLANNINGa) Investment Planningb) Insurance Planningc) Estate Planningd) Retirement Planninge) Goal PlanningPLANNING WILL FOLLOW THIS PROCESSIn creating your plan, you and Advisor will follow this process:a) Data: You will provide Advisor with fin. and personal data necessary to prepare your plan.b) Analysis: Advisor will analyze data and documents provided, evaluate your ability to meet yourobjectives, make observations, identify problems and recommend strategies for your consideration. c)Written Plan: On the basis of the data you provide, and your stated objectives, Advisor will prepareand present a personal financial plan summarized in written form. If this contract is renewed, you willprovide Advisor with current financial data relevant to the area(s) specified for update on the renewalinvoice. These area(s) may or may not be the same as the initial plan. Advisor will analyze this dataand prepare a written summary reflecting your current financial circumstances and recommendingstrategies where appropriate.COMPENSATION TO ADVISOR FOR PLANNING SERVICESFor the financial planning serv. described above, you agree to pay a fee of 10,000.00Please make check payable to :This financial planning contract is agreed to between us, effective 5/23/2013Client: Mr. Girish KumarPrepared by