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The first meeting with us is always without charge or obligation as it is important to confirm that the client / advisor relationship is appropriate for both parties. In this meeting we will provide you with information about ourselves, our competencies and services that we offer as well as establishing an understanding of your needs and requirements in order to determine if we are able to assist you.
In this step we will cover;
After successful engagement signup, we will send financial planning questionnaire to collect more specific personal details, information pertaining to your current financial situation, commitments and short to long-term financial goals. We will then confirm and define your personal and financial goals with you and set a time frame for results. We will look at your objectives, concerns and aspirations and discuss your attitude to investment and other risks. In planning your financial future, we believe that all of these factors are critical to understanding your personal approach to financial planning and risk taking.
This step involves analysing the information collected from you and assessing where you currently stand in relation to your goals. This might incorporate analysis of the following:
After analysing your personal and financial information, we will develop a financial plan. This details the recommendations and strategies for achieving your goals and objectives. It will look at your existing financial arrangements and lay out a plan for the future, and will cover your assets, investments, liabilities and income. It will also, importantly, look at contingency planning and help you plan for any disasters which may arise.
We will present this plan to you and discuss with you to ensure you understood, along with any concern that you may have or changes/alterative to work on. After the report along with necessary changes (if any) are finalises, we will share recommendations for investments, insurance and other activities as required.
This stage details the implementation process (action plan). Recommendations which we will share not only include the new investments/insurance to start with but also changes in current investments, asset allocation, insurance portfolio, liabilities, clutter clearance etc. As agreed, you are required to execute action items on your own. However, we will guide you with any process you are not aware of or need our assistance for the steps.
As per the report/objectives, each of the recommended action have their respective priorities and expected timeline to complete. It is very much important that you keep us updated about the development (action taken) on the given recommendations or discuss with us about the challenges to seek solutions/alternatives immediately.
This step is all about regularly reviewing the plan to make sure everything works for you. We will look at any change in circumstances and, if necessary, change the plan to incorporate them. Reviews are usually done annually but can be done more often if needed (like quarterly). This review is also a chance for you to ask any specific questions that may have come up or to discuss any concerns you may have. This proactive review is about making sure your plan really works for you, every step of the way.
A fiduciary responsibility, a thorough review of your current financial situation which involves and understanding of your financial goals and then development of a plans to achieve them.
SEBI has proposed two fee models, i.e. Asset Under Advice (AUA) mode and the Fixed Fee mode. In the AUA mode, a maximum of 2.5 per cent of AUA per annum can be charged. In the fixed fee mode, a maximum fee of Rs 1.25 lakh per annum can be charged.
At Succinct, we have embraced the Fixed Fee model, which is not linked to AUA. Under this model we cater to the unique needs and complexities of each client. Our focus is on providing comprehensive and tailored financial planning and investment advisory services.
First Year Engagement
During the initial 12-month engagement period, our services encompass the preparation of a Comprehensive Financial Planning Report and ongoing Financial Planning & Investment Advisory (FP & IA) services. The fee for this period is determined based on the individual requirements of the client and the complexity of their financial situation.
Subsequent Year
For our valued existing clients who choose to continue their association with us, we offer an annual retainer fee. This retainer fee is customized to suit the specific needs and circumstances of each client. We believe in fostering long-term relationships with our clients and providing them with continuous support on their financial journey.
Please note that the annual retainer fees may be subject to change, and any amendments will only take effect after the completion of the current 12-month subscription period.
If you have any further questions or would like to learn more about our services, feel free to get in touch with our team. We are always here to assist you with your financial goals.
“Investments in securities market are subject to market risks. Read all the related documents carefully before investing.”
“Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.”