Financial Planning is estimating your future funds required in order to fulfill your goals. It involves earning, saving, spending & investing. The process generally involves evaluating your current financial situation, identifying your goals and then developing and implementing relevant steps.


Financial planning is holistic and broad, it encompasses a varied number of services. Financial planning is a broader term than asset management. Asset management solely involves managing investments for a client. It includes choosing appropriate mutual funds, stocks, bonds and other investments.


Financial planning has a number of objectives to look forward to: 

  • Tax Planning: Helps clients address certain tax issues. Tax Planning helps you figure out how to maximize your tax refunds and minimize your tax liability.


  • Estate Planning: Estate planning seeks to make things a bit easier for your loved ones after you.

  • Retirement planning: You presumably want to stop working someday. Retirement planning helps you prepare for that day. They ensure that you’ve saved enough money to live the lifestyle you want after retirement.

  • Education Funding Planning: If you have children or anybody who is dependent on you, you would want to have a plan for their future studies. Maybe your children would want to go abroad for studies, maybe they would want to do a good certification course that is also expensive. You need to have a good future planning for any upcoming scenario and be prepared for it beforehand. 

  • Contingency Planning: Financial contingency planning means planning ahead to manage the risks arising from events like natural disasters, pandemics or issues that cause changes in your circumstances.

  • Investment Planning: You need to have a one stop solution for all your investment needs related to investments. Investment Planning helps with your investment portfolio by mapping out how much you should be investing and in which types of investments.

    Different types of investment avenues include Stocks, Bonds, Mutual Funds, PMS etc.

    Stocks & Bonds: Stocks and Bonds are two types of investments that can be included in an investment portfolio. You make an investment in stocks or bonds hoping to earn a return, meaning that over time you’ll have more money than you paid in. But stocks and bonds are two very different things that serve different purposes in a diversified investment portfolio.

    Mutual Funds: Mutual funds are a simpler way of investing in the market. Mutual funds give small or individual investors access to professionally managed portfolios of equities, bonds, and other securities. Each unitholder, therefore, participates proportionally in the gains or losses of the fund. Mutual funds invest in a vast number of securities, and performance is usually tracked as the change in the total market cap of the fund—derived by the aggregating performance of the underlying investments.

    PMS: Portfolio management services or PMS offer customised investment solutions to investors to help them attain their financial goals. 


It is very important to put together a financial plan for you and your family. It highlights the overall steps you’ll have to take in order to achieve the goals set by you.

Nitika Sharma

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