Module 2

Gathering Client Data and

Determining Goals and
Expectations
 1.Basic Asset
Decisions
2.Credit Decisions
3.Insurance
Financial Decisions Financia
Plans 4.Investment
l Results

Decisions
5. Retirement and
estate decisions
Financial Concerns
To cover for future needs
To minimize income taxes
To be able to retire comfortably
To create for future generations
To cover insurance/ medical needs
Factors affecting Client’s Risk Tolerance

Client Attitude
Client Knowledge
Client Behaviour
Client Health
Client Occupation
Hazardous Activities
Why is it important to collect accurate
data from client ??
The role of financial planner in that??
Collecting data from client
Open ended questions
Close ended questions
Clues hidden in non – verbal behaviour
Probing
Documents
 Documents to be collected

Income tax returns

Income Proof
Latest statements from all accounts held jointly or separately.
(Savings, Mutual Fund, Money Market, Stock Portfolio)
Statements indicating cost basis of Assets (stocks, Personal
Residence, etc.)
Statements of Assets in Retirement Plans
Latest mortgage statement
Other loan details if not already provided
All insurance policies (life, health, disability, Business/Office
overhead, automobile, homeowners liability)
Other documents
Data segregation
Personal details
 Assets & Liabilities
Income & Expenses
 Discretionary expenses
 Non- Discretionary expenses
Goals
Defining Goals

1. Specific
2. Measurable
3. Achievable
4. Realistic
5. Time bound