Be unique, feel unique, financially...

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


Be UNIQUE, feel UNIQUE, financially - because you are UNIQUE...

Every one of us want to be exclusive from others in our life. The dress we wear, the perfume we apply, the mobile we use, the car we drive, the watch we put on,  the house we design etc., We just love to have our things custom designed. Don't we?! That reflects our need for an independent and exclusive identity. That's a thought which is in built from our younger days, I suppose...

That applies to your investments also. There is no "one size fits all" concept in financial planning. Financial planning is all about customization for the each individual based on age, income, savings, family size, goals and priorities. A plan for Mr.X will definitely not suit Mr.Y, unless they are identical in all aspects.

What should you do to a get a customized financial plan for financial future?

You must engage a professional financial planner, like Money Avenues to work out a customized financial plan for your financial future.

@ Money Avenues, what do we do to create a good financial plan?

Assist YOU on formulating your financial goals:

People may have some ideas for long term, but may or may not have financial goals for their future. Our job is to crystallize their thoughts and encourage them to have  long term goals. And all those events like retirement, children's education, children's marriage are certain events to take place sometime in the future. But key is to have S.M.A.R.T (Specific, measurable, achievable, realistic and time bound) goals to be financially successful.


Assist YOU to identify financial priorities:

Setting priorities are as important as setting goals. End of the day, one must prioritize the goals in the order of importance. This again depends vastly between people and a financial plan can be robust only if the financial priorities are considered. For Mr.X retirement can be a priority No.1. For Mr. Y getting his child educated abroad can be a priority No.1.

Identify appropriate investment products for YOU:

Once the goals and priorities are in place, next comes the choice of investment products. This again depends with individual to individual. Like a shirt or a shoe, there is no "one size fits all" products for investors. Products have to be carefully chosen and matched with their profile, savings, goals and priorities.


Create a robust financial plan for YOU:

Once the process is done, then comes the creation of a sound financial plan which is custom made for each individual taking into account his/her goals, priorities, time frame, savings etc., A financial plan is a detailed document which spells out comprehensive investment strategy for your financial future.

Track the plan for YOU:

Any plan is relevant only if it is tracked, monitored and made appropriate changes when required. Remember, we all grow very fast in lives in terms of money, position, dreams, goals etc., What was my priority 5 years back may not be the same now. What is my principal goal 15 years later, might have changed due to circumstances. The role of a financial planner is complete only if he tracks the plan to make it relevant @ all times.

Now you decide...

** Do you need "one size fits all" advice or custom fit investment advice?  

** Can you sit alone, spend time and formulate your goals and priorities, choose products, make a plan and review it as well?


If your answer is no to both the questions, then call the experts @ Money Avenues right away...

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