FIRST SOURCE FINANCIAL specializes in offering Comprehensive Financial Planning services to our clients, across geographies with the help of technology. Ours is a fee model and distributor model for client convince, which ensures that our advice & recommendations are as per client need. We have an expert team consisting of qualified financial planners to create comprehensive financial plans for you. Our plans are constructed after incisive analysis & with the aid of strategic inputs from all planners involved, to ensure that we deliver clarity & outstanding value to you.

The 6 steps of Financial Planning which every Financial Planner has to go through are

Step 1: Setting goals with the client

Step 2: Gathering relevant information from the client

Step 3: Analyzing the information

Step 4: Constructing a financial plan

Step 5: Implementing the strategies in the plan

Step 6: Monitoring implementation and reviewing the plan

Do I need Financial Planning?

Well, you do! In any human endeavour, one needs to have a roadmap, to get to the destination – which is a plan.

When you have many goals and dreams, you need to first know if these are achievable & how to achieve them. One may not even be aware if they are going in the right direction. In a financial plan we put the goals in perspective, do a reality check about their achievability & come up with strategies and actionable recommendations. Now, this is required by everybody, isn't it?

Problems today - Today, many of us are in well-paying jobs and have fast-track careers. We earn well, but do not have the time to manage our finances. Money earned is invested without much thought; it's invested based on hear-say or some friend's advice.

Many times, money just lies in the bank. Worse still, it is frittered away in frivolous spending. Earning well is fine; but income is not wealth. We plan birthdays, holidays, but have no time to plan our finances, which impacts every other thing in life! A proper financial plan would give clarity & direction about what we need to do to achieve the goals.

The question is not whether you need a plan… it is whether you can do without one!

The Importance Of Financial Planning


FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo manage income more efficiently. The cash and need analysis and income expenditure budgeting will show the best way possible in managing income. Regardless of the amount of income earned, part of the earning will go for tax payment, expenditure and what's left would be the saving. Thus, proper management of income is necessary in increasing cash flow.

Cash flow

FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo increase cash flow and monitor spending habits and expenses. Financial planning will help in determining what should be done to generate cash flow in order to make investing possible. Tax planning, careful budgeting and prudent spending are aspects that need to be paid attention to in generating cash flow. This will help as part of the cash can be preserved for long term use.


FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo build a long term capital-base and shape your financial future. Once there is an increase in cash flow, it means an increase in capital base too. This allows one to be able to venture into various portfolio investment.
With a strong capital base, one can have a wider portfolio of investment.


FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo identify investment opportunities relevant to your financial situation. Financial planning can help in evaluating the best investment opportunities. A good investment planning can turn goals from dreams into realities. Apart from picking the `right` investment, it shows how to allocate money among different type of investment. This can have a greater effect on investment success.

Family security

FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo provide for your family's financial security with proper coverage through right kind of policies. The good old days when a worker retired with a nice pension seem to be gone now. Today, one need to take charge and plan for the family's future security. How much income should one plan in needing for the family's financial security? In doing these projections, inflation effects must be considered too. This is where financial planning can be of help.

Financial understanding

FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo get a whole new approach to budgeting and gain control over your financial lifestyle. One can evaluate the level of risk in an investment portfolio or adjust a retirement plan due to changing family circumstances for example. It becomes obvious that financial understanding has been attained when measurable financial goals are set, the effect of each financial decision is understood, the financial situation is periodically evaluated, financial planning is done as soon as possible with realistic expectations and ultimately when one realizes that only he or she is fully in charge of it.

Standard of living

FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo maintain your family's present standard of living by maximizing the household insurance portfolio. One can create a personal and family financial plan so that there are clearly defined goals or targets and there is enough savings to get there. For example, one can make sure that there is enough disability coverage to replace any lost income. This can ensure that the family remains financially secure if the head of the family or the bread winner dies. Thus, the family's standard of living doesn't suffer and is maintained.


FIRST SOURCE FINANCIAL - FINANCIAL PLANNERIt used to be called saving for a rainy day. But sudden financial changes can still throw one off the track. An emergency fund for example might be ideal. It has to be always very liquid. It means that it should be very easy to convert that fund into cash. Savings bank or money market accounts are examples of investment with high liquidity. This way, a systematic and organized saving and investment plan can be provided to fund children's education and secure a comfortable retirement and on top of that, be ready for any unexpected occurrences.


FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo insure assets accumulation and liability cancellation to leave the maximum amount of wealth to your heirs. In the process of accumulating assets, many fail to realize that it usually comes with a liability package. In order to determine the true worth of any asset, the liabilities need to be settled, or cancelled. Only then, the true value of the assets would be of use and help for the heirs. Otherwise, assets can easily mean unwanted or unexpected financial burden.

Financial security and mastery

FIRST SOURCE FINANCIAL - FINANCIAL PLANNERTo assist you and your family to attain the ultimate objective of financial security and mastery. Financial planning will provide directions and meaning to one's financial decisions. It allows an understanding of how financial decisions made can affect other areas of finances. By viewing each financial decision as part of a whole, the short and the long term effects on one's life goals can be considered. This will help in adapting more easily to life changes and feel more secure financially, knowing that financial mastery has been achieved.

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Office: 15, Chitra Apartment, Opp. SVP High School, S.M. Road, Kandivali (W), Mumbai - 400 067, INDIA.

Call: +91 98200 28439 / +91 22 2806 0316


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