What is a Financial Needs Analysis?
Just in case you didn't know, your financial program will never be
complete until you ask your financial adviser or financial planner to
first conduct a comprehensive Financial Needs Analysis of your
financial
situation.
What is a Financial Needs Analysis?
FNA is your road map to financial goal success!
Simply put, a Financial Needs Analysis is a document that forms part
of your financial planning program. A FNA helps you see a bigger
picture of your
current financial situation, including problems, if any, that you may
be having, from outside of the box. It helps you
understand your current financial position compared to how you would
like it to become in the next five, ten or fifteen years from now.
A FNA also takes into consideration your current position regarding, among others things, your assets and liabilities, income and expense budget, investments, cash savings, available spendable cash, your current financial security and protection, provision for retirement, provision for accidents and disability, provision for funeral expenses, provision for emergency expenses, and much more!
In some countries, including South Africa, for instance, legislation
has been put in place which forbids financial providers and their
intermediaries from providing customers with financial products such as
life insurance, without evidence of a completed financial needs
analysis document.
In other words, a financial needs analysis protects you from
receiving financial advice which doesn't make sense to you, or
investing in financial products which do not add value to your future
financial goals.
To arrange for your own financial
needs analysis, contact
Andrew Molobetsi!
Or get our newsletter and receive weekly free tips and reports! Sign Up
Here!
11 Mongarva Street,
Atteridgeville West, Pretoria, 0006, South Africa
Telephone: 073 631 8577 Intl: +27 73 631 8577
Warning: The owner of this website receives compensation when products or services advertised herein are bought. This happens when you click on the showcased ads or text links.