In my previous article, Returning to South Africa – Financial Planning explained, I mentioned the 6 steps of financial planning in South Africa. These steps were researched and implemented by the FPI as a guideline and methodology for advisers. The thinking behind these steps was to ensure that the clients’ needs are always held as
I have focussed on how the adviser and his resultant advice must always be centered around your unique objectives and circumstances, and the importance of a Financial needs analysis (FNA). As I mentioned previously, the fundamentals of a holistic FNA are as follows: Estate planning, which includes estate liquidity, debt provision, capital provision and wills…