See the creative blend of financial planning process and technology

The financial planning process consists offollowing six distinctive and sequential steps: establishing and defining the client-planner relationship; gathering client data including goals; analysing and evaluating the client’s current financial status; developing and presenting recommendations and/or alternatives; implementing the recommendations; and monitoring the recommendations. Yet technological innovation and co-planning are redefining the process. The delivery of a financial plan is becoming even more complicated with the emergence of mobile technology and tablets. While many advisors have tablets, few are using them in the planning process. Today, co-planning is typically conducted via video-conference or in front of a big screen television in the advisor’s office.

Let us review the financial planning process in context with today’s technology, some being used by online financial planning companies. The first way is that tablets have been incorporated is in the plan presentation stage. It is easy to create a PDF or document and then view it on a tablet. Ultimately the six steps merge into a single experience that supports full co-planning. The new co-planning process, though, dispenses with the static financial plan. Rather, it creates a live, ever changing plan, driven by market data and the changing needs and circumstances of the investor. This evolving planning environment enables advisors and their clients one opportunity to continually review, update and tweak the plan in real time.Technology is more investor-centric today. Investors are demanding technology that can show their financial life in one place. Most software has the functionality, but the trend now is to make it easy to use.In addition to the client portals, one of the biggest improvements in financial planning is the way that information is being provided to the investor. Established, larger firms have invested a great deal of their technology budgets on improving user interfaces. Newer firms are using the latest interactive technologies and making equipment choices based on the ability to interact on a tablet or a website.

Another important factor is that new technologies offer more intuitive ways to engage clients. In many ways, software companies have broken new ground by incorporating a technique that integrates elements of gaming, such as point scoring and competing with others into their software.Other tools help present complex information in ways that may be easier for investors to understand. Mind mapping, a series of diagrams that visually organize information is a good example of this technology. Advisors use the correlations engine and easy user interface to help clients understand portfolio risk, showcase hedging strategies and compare portfolios.

Take The Control Of Your Finances In Your Own Hands

If you have reached here and are reading this article, it means that you are interested in online financial planning and believe me that if you are thinking to plan your finances on your own with the help of online tools, you can do it. There is nothing that can stop you when you want to do something, provided you get the right guidance. And for this guidance, online financial tools will always be there for you. The amazing technology tools that you get from trusted sources or online financial help that you get from leading wealth management firms guide you at every step and allow you to check out thousands of what-if scenarios while smoothly navigating back and forth. While planning finances for different stages of your life, you will notice that everything is interlinked and strewn in such a manner that you get a comprehensive financial plan. In your online financial journey, don’t think that you are left with technology only. You always have the access to experts’ opinion and analysis, whenever you need it.

The reason behind providing online financial planning services is to empower every single individual to take control of his or her personal finances. Some people often debate on the success of such online services on the point that you have to be tech savvy for so and those who aren’t, for them it is not feasible. However, believe me that this hasn’t been an issue. Even I am not a technology freak but I still use online financial tools. So, if you can use a computer, you can go through the process. Then, as you browse through online financial services, you would see that there are dozens of options that are tailored to your situation. So, there is nothing that can stop you from trying online financial services it at least for once!

Do Your Financial Planning Online

Online Financial Planning is need of the hour. Through online facility a financial company can conduct a meeting with their client face to face by using Skype or Google hangout or through phone call while using screen sharing software like Join me.

Today when people are juggling between a high intensity jobs while completing their household responsibilities. Taking time out to their day to drive to the office of their financial advisor and then go back to their jobs, would easily take up 2-3 hours of the day. Modern and technology equipped generation is using technology and opt for online financial planning.

Financial Planning is a process to where one works to set up a financial plan for their future to achieve different financial goals. This planning starts with gathering relevant financial information, setting up life goals i.e. money required for kids higher education, retirement planning, budget for marriages etc , then examine the current financial status and coming up with a strategy  to allocate funds for achieving future goals and anticipating present situations or needs.

In online financial planning, the client’s get web based online access of financial planning software where they can monitor or review their plans get updated reports.  They can also prepare their own customized financial plan based on their present income and how much they want to invest and how they will invest. They are being assisted by their advisor at the comfort of their home. If you are looking for online financial planning go to 

Follow All The Steps Of Financial Planning Process For Attaining Best Results

The financial planning process is a step-by-step process or rather it should be done step-by-step for best results. Those who don’t it methodically, they fail to plan properly. For example, financial planning starts with clearly establishing and defining the client and planner relationship.The financial planning company should clearly explain and document the services that it provides to clients and should define its responsibilities during the financial planning engagement. Payment terms should be cleared to both the parties, the client and the service provider. Both the parties should agree on how long the professional relationship should last and on how decisions will be made. Now, once the contract has been signed, the financial planner should ask for information about client’s financial situation. Client and the planner should mutually define personal and financial goals, understand time frame for results and discuss. 

The financial planner should gather all the necessary documents before giving the advice client needs. Then comes the analysis and evaluation stage where the financial planner should analysethe client’s information to assess the client’s current situation and determine what he or she must do to meet the goals. It is then when the financial planner should offer financial planning recommendations that address client’s goals, based on the information provided. The planner should go over the recommendations with client so that client can make informed decisions. The planner should also listen to client’s concerns and revise the recommendations as appropriate.

 The client and the financial expert should agree on how the recommendations will be carried out. The planner may carry out the recommendations or serve as a coach, coordinating the process with client and other professionals such as attorneys, accountants or stockbrokers. And last but not the least, is the monitoring of progress towards goals. If the planner is in charge of the process, he or she should report to the client periodically and adjust the recommendations, 

Online Financial Planning Is So Much Quicker And Easier

Online financial planning is a fairly new concept but it is soon catching up with Indian customers too. As Indian customers have switched to Internet for every small little need that they have, they also look out for options in place of regular, full-time financial planners who charge heavy fee in return of their services. Fee is still a bearable part as long as you are getting a good and a genuine financial advisor but finding somebody who is really genuine and good at his or her work is a challenging task. The advent of online financial planners has solved all these worries. Now, there is no need to run around and hunt for a money market expert. You can just sit at home, log in and start working with your online financial planner. 

Online financial planning covers almost all the aspect of life, such as college funds, estate planning, insurance investments, long-term investment management and retirement. As you log in to some updated financial planning software, you can analyse your financial situation and run scenarios to cover ‘what if’ questions about your financial future. The concept of online financial planning is beneficial for those customers who don’t want to relay too much of their personal and professional income details to any third party. The information that you enter in the site are stored securely. The best part is that it saves time. As you deal with a traditional financial planner and ask for some past or present numbers or some calculations that might be helpful for you in taking investment decisions, your financial planner is bound to ask some time. But this is not the case with your online financial planner who provides you updated data on all your cash inflow and outflow. There is no need to rely on somebody else for getting your details. Isn’t that so much quicker and easier.