Good, holistic financial planning is not only about planning for the expected transitions and the known risks, but also for the unexpected and unknown so that you can have peace of mind. It’s where conventional planning ends and we go further. Because at Foundation Family Wealth money is the tool for a meaningful life. A life that is about more than just money and peace of mind. A life that is about living on purpose and the experiences and dreams you want to live. We make that happen.
ELEMENTS OF FINANCIAL PLANNING
Our planning is holistic and can include all the elements of financial planning, or we can advise on any of these individually.
HOW DO WE DO FINANCIAL PLANNING?
We start with your story and what you have now. We also take the time to understand what values drive you and then help you articulate what your vision is. This holistic approach is strategic, consolidating the facts, insights and goals into a detailed financial plan that empowers you with its step-by-step approach, towards goal-realisation.
The financial planning process follows the globally recognised steps of covering all the bases – your cash flow, investments, taxes, risk planning and insurance needs, and ends with what should happen on your death. It covers all the known transitions like retirement and death but also plans for the unknowns and assumptions going wrong.
Every financial plan offers a decision-making framework, tools, and outlines the basis of an ongoing relationship which includes review processes and access to ongoing expertise.
WHAT CAN YOU EXPECT FROM THE PLANNING PROCESS?
We believe that we cannot help you make good financial choices without having a holistic understanding of our clients. Our financial planning process, therefore, includes four phases:
Our first meeting is for you to understand what we are about, our planning process and whether we are the right financial planners for you.
We then proceed to understand your story, beliefs about money and goals, in addition to understanding your income and expenses, savings and investments. We use our own discovery tools to help you think through your vision for your future and identify what we need to plan for.
In an interactive planning meeting, we work through scenarios and strategies with you, using world-class technology to illustrate the potential outcomes and probability of success of different strategies. We talk through investment options and risk management plans. We then present the agreed, holistic and detailed strategic plan including how to minimise your tax and plan for your death. At this juncture, you choose whether you want to adopt the strategic plan, allow us to implement it for you and choose Foundation Family Wealth to become your future financial partner.
We then proceed to implement the financial plan. It’s all about taking the load off you so that you can get on with your life. We are a paperless, technology driven-business. Everything happens digitally. Everything is about making life easy for you.
The planning process will give you a road map for your future, a decision-making framework and peace of mind that we’ve covered all the bases. It will require that you invest time and energy upfront so that we can form a solid foundation for the future. But it will be time and energy well spent.
HOW WE CHARGE
For the initial financial planning process and the financial plan, we charge a professional planning fee. The fee depends on the complexity of the work needed and the time we will invest in the process.
This initial investment of time and money in the financial planning process on your part acknowledges that the financial planning process has value in itself, as it establishes the foundation of what you will build on. It also recognises that the planning process is not a sales process.
In fact, we never sell financial products and nor are we remunerated for facilitating transactions for you. Our only income is the fees our clients pay us for the initial planning and ongoing financial partnership.