March 19, 2019

The 5 Step Recipe – for reasonable profits & consistent growth !

Sadique Neelgund

 The 5 Step Recipe – for reasonable profits & consistent growth !

How do we scale up and still maintain quality such as to make reasonable profits, consistently and years after years? The answer lies in our recipe of delivering the financial plan. So here is the 5 step recipe that’s working for us.

  1. Onboarding: We would send a letter of engagement outlining the terms and conditions. The client needs to review and approve. We would also complete the KYC procedure. Finally, fees are to be paid by the client as per the terms. We would update our newsletter list, create a WhatsApp group and create client specific planning files.

  2. Discovery: The client would need to provide cash flow, assets, liabilities, policies and goals details in the discovery checklist over email, a call or face to face. Alternately, the client can send us relevant documents and we would do the needful. The planner would initiate the Risk Profiling exercise.

  3. Planning: Now, the planner would prepare a customized plan based on our in-house framework. The planner & the client would talk through the draft plan & then the planner would finalize the plan based on the feedback.

  4. Implementation: The planner works closely with the client to execute the agreed actions. A common list of actions could be setting up MF accounts, surrendering insurance policies, setting up adequate risk covers, consolidating existing investments, digitizing critical documents & drafting the will.

  5. Review: Once the plan is finalized, the quarterly reviews would kick in. How is the plan implementation going? Does the client need any help? How are the assets performing? Do we need to revisit the strategy? The reviews are the communication bridge and they are meant to enable both the sides.

5 Step Financial Planning

A robust process has the control points built in. As an example, the discovery process cannot start unless the engagement is approved. Planning cannot start unless the risk profile is completed. The implementation cannot start unless the final plan is approved. In other words, this is a tollgate checklist approach wherein, unless actions in one stage are completed, you do not move to the next stage.

What’s your recipe?


One response to “The 5 Step Recipe – for reasonable profits & consistent growth !”

  1. Nice article.. But this whole process is not followed by B 30 investors

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