What is financial planning?
Financial planning is a process whereby an individual achieves his personal & financial goals through the development and implementation of a comprehensive plan. This plan would incorporate four key areas of Wealth Management:

Wealth Accumulation
Wealth Protection
Wealth Preservation
Wealth Distribution

Wealth Accumulation
This is a process of capital accumulation through investment, employment or method business income used would be Retirement planning and Education Fund planning which help you to analyse, focus and monitor your goals. One tool would be using Trusts to for income generating assets to pass on to the next generation.

Wealth Protection
Once you have passed your basic needs, you would need to protect your wealth from financial loss due to accidents or unforeseen medical bills, debts reduction, or income replacement due to disability, and maintaining the same lifestyle for your surviving family members and heirs. Insurance planning is a very useful method to fulfill this goal.

Wealth Preservation
To ensure that your wealth is preserved from excessive spending by your heirs, and to minimize the cost of holding the assets, two methods used are Tax planning and Estate planning. This form a certain measure of control even when you are not around.

Wealth Distribution
Having a will as method to distribute the assets of your estate helps but it is not immediate distribution assets held in a trust in fact will not be frozen upon death and this ensures immediate funds available for your loved ones. These 2 methods will guarantee that your accumulated wealth is distributed according to your wishes at the lowest cost of distribution.

Maslow Hierarchy of Needs




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