The PWH Financial Plan
Effective financial planning involves more than just preparing for expected changes and identified risks; it also entails anticipating and addressing the unexpected and unknown to provide a sense of security. At PWH Wealth Group, we take this a step further, recognizing that money is a means to achieve a fulfilling life, one that encompasses more than just financial security and peace of mind. Our approach is centered around living with purpose, pursuing your desired experiences and aspirations, and leveraging your resources to make those goals a reality. We are committed to helping you achieve this vision.
Our professional planning fee is based on the complexity of the work and the time required for both the initial financial planning process and the resulting financial plan.
By investing in the financial planning process, you recognize the value it brings in setting the foundation for your future financial success.
If you decide to have PWH implement your plan, we will charge an ongoing fee based on the assets we manage for you. This fee includes ongoing planning advice, annual review meetings, and support services.
Key Factors of Financial Planning
Life Purpose Plan
Short, medium and long term goals and objectives
Lifetime Cash Flows
Budgets and asset transactions (sales/purchases)
Liquid vs non-liquid assets
Equities, bonds, cash and property
Investment Portfolio Alignment
Aligning your entire investment portfolio with your personal risk profile
Optimising tax structure for maximum efficiency
Asset & Liability Structuring
THE FINANCIAL PLANNING PROCESS
Going through an in-depth process is crucial for various reasons. Firstly, it helps in gaining a comprehensive understanding of the client's financial situation, including their assets, liabilities, income, expenses, goals, objectives, and priorities. This information forms the basis for devising an effective and tailored financial plan that aligns with the client's unique circumstances.
Secondly, an in-depth process enables the financial planner to identify potential risks and challenges that the client may face in achieving their goals. By doing so, the financial planner can develop strategies that mitigate these risks and safeguard the client's financial future.
Lastly, an in-depth process provides an opportunity for the financial planner to educate the client on various financial concepts and principles. This helps the client make informed decisions and empowers them to take charge of their financial future. Overall, an in-depth process is critical in ensuring that the financial planning process is comprehensive, effective, and tailored to meet the client's unique needs and circumstances.
1 / Data Gathering
To ensure the advice given is precise and the plan created is motivating, we initiate a comprehensive data collection procedure to gather as much information about your financial situation as feasible.
2 / Attitude Goals & Perspectives
To devise a plan that drives you towards a successful life and keeps you motivated, it's crucial for us to comprehend your aspirations, objectives, and priorities.
While assessing your goals, we must ensure they are specific, measurable, realistic, and attainable. As a part of our approach, we allocate a complete session to determine your life purpose plan.
3 / Risk Management
While it's impossible to predict the future with certainty, we take every necessary measure to mitigate risks. Our approach involves keeping the risks at the forefront of our minds while implementing strategies and structures.
4 / Financial Management
We strive to achieve alignment with our clients by providing coaching on budget management, cash flow management, and debt management, thereby enhancing their skills.
5 / Analysis and Strategy Presentation
After obtaining a comprehensive understanding of your financial assets, attitude, and education, we can scrutinize the inputs and devise a strategy that aligns with your goals, objectives, and purpose.
6 / Implementation and Review
Our proficient operations and administration team undertakes the implementation process.
We strongly endorse flexibility and recognize that life is constantly changing. Therefore, we ensure that your financial planning aligns with the same philosophy.
Financial Planning is a comprehensive process that encompasses all aspects of an individual's or business's financial situation, including financial goals, income, expenses, assets, liabilities, taxes, and risk tolerance. It involves developing a comprehensive plan that outlines specific strategies and recommendations for achieving those goals, often covering a range of areas, such as investment management, estate planning, insurance, and debt management.
Financial Advice, on the other hand, is a specific recommendation or guidance provided by a financial professional to address a particular financial question or issue. Such advice may be focused on a particular area of financial planning, such as investment selection or tax planning, and may be delivered in a one-time consultation or on an ongoing basis.
In summary, financial planning is a comprehensive and ongoing process that involves developing a holistic plan to achieve financial objectives, while financial advice is a specific recommendation or guidance given within the context of that plan or in response to a particular financial matter.
A financial plan will include financial advice but financial advice does not necessarily include a financial plan.