Comprehensive Financial Planning

We help you evaluate your whole financial picture, and we offer specific recommendations for how to achieve your goals. Succinct is a unification of its well-versed financial Planning tools, CFP and Financial Planning experts having in-depth knowledge and experience into personal financial planning.

We assess every aspect that include cash-flow, investments, insurance, taxes and help you develop a detailed strategy or financial plan for meeting all your financial goals. We consider all questions, information and input as these impacts your entire financial situation before producing integrated solution.

Steps Involves in Financial Planning

Define the Relationship

The first meeting with us is always without charge or obligation as it is important to confirm that the client / advisor relationship is appropriate for both parties. In this meeting we will provide you with information about ourselves, our competencies and services that we offer as well as establishing an understanding of your needs and requirements in order to determine if we are able to assist you.

In this step we will cover;

Explaining the process to be followed
Identifying your needs and level of advice required
Being clear about what your and our responsibilities are and how decisions will be made
Giving you clear service package options
Discussing terms of agreement & payment for services
Mapping out the process and obtaining your consent to proceed

Collect Financial Information

After successful engagement signup, we will send financial planning questionnaire to collect more specific personal details, information pertaining to your current financial situation, commitments and short to long-term financial goals. We will then confirm and define your personal and financial goals with you and set a time frame for results. We will look at your objectives, concerns and aspirations and discuss your attitude to investment and other risks. In planning your financial future, we believe that all of these factors are critical to understanding your personal approach to financial planning and risk taking.

Analyze Information's

This step involves analysing the information collected from you and assessing where you currently stand in relation to your goals. This might incorporate analysis of the following: Your current financial situation, net-worth sheet (assets, liabilities, and cash flow) Current risk (assurance) portfolio Reviewing current investment, insurance etc Reviewing last will and testament and estate planning structures in place.

Develop Financial Planning Recommendation & Present

After analysing your personal and financial information, we will develop a financial plan. This details the recommendations and strategies for achieving your goals and objectives. It will look at your existing financial arrangements and lay out a plan for the future, and will cover your assets, investments, liabilities and income. It will also, importantly, look at contingency planning and help you plan for any disasters which may arise.

We will present this plan to you and discuss with you to ensure you understand it, along with any concern that you may have or changes or alternatives to work on. After the report along with necessary changes (if any) are finalises, we will share recommendations for investments, insurance and other activities as required.

Implementation of Recommendations

This stage details the implementation process (action plan). Recommendations which we will share not only include the new investments/insurance to start with but also changes in current investments, asset allocation, insurance portfolio, liabilities, clutter clearance etc. As agreed, you are required to execute action items on your own. However, we will guide you with any process you are not aware of or need our assistance for the steps.

As per the report/objectives, each of the recommended action have their respective priorities and expected timeline to complete. It is very much important that you keep us updated about the development (action taken) on the given recommendations or discuss with us about the challenges to seek solutions/alternatives immediately.

Review Periodically

This step is all about regularly reviewing the plan to make sure everything works for you. We will look at any change in circumstances and, if necessary, change the plan to incorporate them. Reviews are usually done annually but can be done more often if needed (like Half Yearly). This review is also a chance for you to ask any specific questions that may have come up or to discuss any concerns you may have. This proactive review is about making sure your plan really works for you, every step of the way.

New Standard in Comprehensive Financial Advisory

A fiduciary responsibility, a thorough review of your current financial situation which involves and understanding of your financial goals and then development of a plans to achieve them.

Fiduciary Responsibility

We believe to have a fundamental obligation to act in the best interests of our clients and to provide advices in clients’ best interests.

Behavioural Finance

Behavioral Finance helps us to avoid emotion driven speculation leading to losses & irrational financial decisions.

Fees Structure

SEBI has proposed two fee models, i.e. Asset Under Advice (AUA) mode and the Fixed Fee mode. In the AUA mode, a maximum of 2.5 per cent of AUA per annum can be charged. In the fixed fee mode, a maximum fee of Rs 1.51 lakh per annum can be charged.

At Succinct, we have embraced the Fixed Fee model, which is not linked to AUA. Under this model we cater to the unique needs and complexities of each client. Our focus is on providing comprehensive and tailored financial planning and investment advisory services.

First Year Engagement

During the initial 12-month engagement period, our services encompass the preparation of a Comprehensive Financial Planning Report and ongoing Financial Planning & Investment Advisory (FP & IA) services. The fee for this period is determined based on the individual requirements of the client and the complexity of their financial situation.

Subsequent Year

For our valued existing clients who choose to continue their association with us, we offer an annual retainer fee. This retainer fee is customized to suit the specific needs and circumstances of each client. We believe in fostering long-term relationships with our clients and providing them with continuous support on their financial journey.

Please note that the annual retainer fees may be subject to change, and any amendments will only take effect after the completion of the current 12-month subscription period.

If you have any further questions or would like to learn more about our services, feel free to get in touch with our team. We are always here to assist you with your financial goals.