Financial Planning Servises:
Who we are
Credenfin Consultants Financial Planners, is a privately owned 14 year old Mumbai based financial planning & Advisory firm that specialises in personal finance, family wealth advising and financial consulting for individuals, NRIs, corporate & family groups.
What made us start Credenfin Consultants Financial
Planning
We were lucky enough to know after achieving our education goals that we cannot work under some organisation which runs behind targets and loses focus on clients needs and goals.
We wanted to be a “Healing Approach” kind of financial doctors, an expert who understands the importance of time, patience & money. We believe in the hand-holding method of making our clients understand the nitty-gritty’s of finance as we see the market is still not mature enough to understand the right kind of balancing and structuring of their finances based on their goals. People’s focus is more on earning profits but without knowing the goals or right process of reaching towards it.
Financial Planning Includes:
1. Goal-Based Planning: Goal-based financial planning is when you make a strategy that focuses on achieving your specific financial goals, and not just overall wealth accumulation. This is done by SMART (Specific, Measurable, Attainable, Relevant, Time-bound) goal-setting, following a realistic budget, and investing in avenues that align with your financial situation, risk profile, and investment horizon.
2. Retirement Planning: A peaceful retirement is something we all dream about, and a Financial Advisor can help you assess the amount you will need during your retirement while taking into account your lifestyle and preferences. Then they’ll suggest the best long-term investment options that will help you realise this dream, keeping in mind your unique financial situation.
3. Investment Planning: The world of investments can be intimidating, especially to newcomers due to the sheer number of options available. An investment planner offering an investment planning service can filter through the options and present you with the ones relevant to your financial goals, situation, investment horizon, and risk appetite. They can also monitor your portfolio for you and recommend changes as your financial situation or the market conditions change.
4. Debt Management: Financial advisors can work with individuals with outstanding debts such as home or education loans, and craft repayment strategies that allow them to pay off their debt as quickly as possible while minimising interest costs.
5. Tax Planning: Tax planning is how you can legally minimise your tax liabilities. Financial advisors, specializing in tax planning services, are well-versed in tax laws and can easily identify opportunities that can reduce your taxable income and help you retain more of your hard-earned money.
6. Legacy and Inheritance Planning: Also known as estate planning, inheritance planning maps out how individuals wish to pass on their assets and wealth to their beneficiaries after their passing. In India estate planning often isn’t given as much importance as it deserves and as a consequence, our courts are filled with legal disputes. With proper estate planning, you can create wills, assign beneficiaries, establish trusts, and ensure that your beneficiaries inherit your assets smoothly and according to your wishes.
7. Emergency Planning: Emergency planning includes building an emergency fund, which is a reserve of cash only used to deal with unexpected expenses, such as a hefty repair bill, or unforeseen circumstances, like a loss of a job. Experts suggest that the fund should contain at least six months’ worth of your living expenses, and be invested in highly liquid assets.
8. Insurance: A big medical bill can potentially derail a person’s financial stability, and in some cases even push them under the burden of debt. Health insurance shields you and your loved ones from this uncertainty and maintains financial stability. A financial advisor can guide you through different health insurance plans with ample coverage tailored to your specific circumstances. They can also walk you through different term insurance products such as Guaranteed Return Insurance Plans (GRIP) and traditional plans so you can decide the most suitable one for yourself.
9)Mutual fund: he world of investments can be intimidating, especially to newcomers due to the sheer number of options available like SIP, STP SWP Etc
