The advisory fee that is chargeable by Karen is S$250 per hour of time spent on developing a financial plan for you.
After gathering all required data, Karen will proceed to perform the financial needs analysis and document the results and recommendations. The total number of hours required depends on the complexity of planning. On average, full financial planning (excluding creating a will and setting up a trust) takes 10 hours. Your Wealth Report, which includes key recommendations, will also be given to you.
The financial planning process includes:
- Meeting with the client to understand their concerns and circumstances
- Organising the key data collected to make it more meaningful / relevant
- Analysis of data collected to discover gaps and quantify them
- Scenario analysis to project the surplus and deficit in the event of various possibilities occurring
- Comparison of product features and benefits in light of the client’s unique requirements
- Creating a financial report with recommendations of the action plan
- Presentation and explanation of findings, opportunities and solutions to the client
