Monthly Archives: September, 2006

Where to find a Certified Financial Planner

CFPs are small in number in India.  New CFPs are passing out every quarter and you can find the directory of CFPs in India at


Basics of financial planning process

Financial Planning Defined

Financial Planning is the process of :

Examining a client’s personal situation, financial resources, financial objectives and financial problems in a comprehensive manner,

Developing an impartial, integrated plan to utilize the resources to meet objectives and solve problems,

Taking the steps to implement that plan once approved by the client, and

Monitoring the plan performance to take corrective action as necessary to assure that results match the plan projections

Financial Planning Defined

“Financial Planning is planning for and managing life’s financial outcomes”

Financial Planning Process

A formal, six-step process, formulated by the College of Financial Planning (US) in 1972, designed to address, in whole or in part, life’s financial issues and opportunities.

Financial Planning Process Step One: Establish the Client/Planner Engagement

You and Your Planner Should

Discuss your objectives & expectations
Discuss the services available
Clarify responsibilities and time frame
Finalize the scope of the engagement
Determine the fee/compensation arrangement

Financial Planning Process Step Two: Gather Data & Determine Goals

Your Planner Should

Obtain information & documents
Help you “refine” or crystallize goals
Develop an understanding of your values & attitudes

Financial Planning Process Step Three: Examine Current Financial Condition, Problems & Opportunities

Your Planner Should

Analyze information, Identify problems & opportunities across each major financial planning discipline

Finance – Asset & Liability Structure, Cash Flows
Investment Taxation – Ordinary and Income
Risk Management – Insurances & Asset Protection
Law – Estate, Charitable & Legacy Planning

Financial Planning Process Step Four: Develop & Present Financial Plan

Your Planner Should

Prepare & present a personalized financial plan
Establish a review cycle

Financial Planning Process Step Five: Implement Your Plan

Your Planner Should

Assist the Client or manage the process as defined in the Engagement Agreement
Financial Planning Process

Step Six: Monitor the Financial Plan;

You and your Planner Should

Review changes in personal circumstances
Review and evaluate impact of changing tax laws
Review and Discuss changing life circumstances
Make periodic adjustments or recommendations as necessary

Hello world!

Greetings!As part of Procyon Financial Planners’ ( efforts to popularise financial planning in India and to focus on CFPCM, we have started this blog space. Title of the blog aptly describes our mindset. We are passionate about financial planning profession and would like see the movement grow in India. Financial Planning process augurs well for Indian investors who would like to see professionalisation of financial advisory services. Myself and my partner Krishna Kumar, CERTIFIED FINANCIAL PLANNERCM would be contributing our ideas on financial planning in this blog space. We would like to receive your valuable comments/feedbacks from time to time so that this blogspace becomes user friendly and interactive.Wish you a very happy Dasara festivities.

Yours truly

Narendra KN (Naren)