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At Jan van Niekerk & Vennote | Partners we offer our clients a wide range of services.
Financial planning is a comprehensive process that focuses on all aspects of your finances. Though each person has different needs, different goals and different means...
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Financial planning is a comprehensive process that focuses on all aspects of your finances. Though each person has different needs, different goals and different means, an effective financial planning process will always result in a carefully designed plan that will guide you in intentionally maintaining and building wealth.
The following is a good roadmap of the financial planning process:
Phase 1: Establishing and defining the relationship between yourself and your financial advisor
The first phase consists of the initial discussions with your financial planner and helps establish the working relationship. If you do not have a well defined relationship with your financial advisor it will always make you feel uncertain and vulnerable. That is why the first phase is meant to establish a trust relationship while working on the initial exploration of your financial situation and plans.
Phase 2: Gather data and determine goals and objectives
During phase 2 the groundwork is layed for an effective financial plan. It is about gathering information on your current financial situation, commitments, short to long-term financial goals and your circumstances. This is done by co-creating a provisional picture of your current financial situation and your goals and objectives.
Phase 3: Clarifying your present financial status; identifying any problem areas and opportunities
The third phase involves an analysis of your assets and liabilities, cash flow, current risk cover, investments and tax strategies. It allows you to investigate solutions to problems and identify strategies to capitalise on opportunities.
Phase 4: Implementing the financial plan
Once you understand and are completely satisfied with the recommendations, you will need to authorise your financial planner to proceed with the implementation of the financial plan. During this phase your financial planner assists you in implementing the recommendations discussed if you want. This may also involve coordinating contacts with other professionals such as investment funds sales representatives, accountants, insurance agents and lawyers.
Phase 5: Monitoring the financial plan
The first five steps of the six-step financial planning process are easy, since they are essentially a mathematical exercise. The final step requires the skill and experience to drive the performance of your resources. This phase requires that your financial planner offers ongoing care. This is not an attempt to sell you a new product – it is a service that is separately costed in a fee-based environment.
The firm was established in 1993 in Randburg and was from the outset geared to provide a personal and comprehensive insurance service to clients, focusing on building lifelong relationships. We cater for a wide variety of needs and provide professional financial advice and products to customers in Gauteng, Cape Town and Durban. The firm specializes in short and long term insurance, underwritten by various insurers with the emphasis on life assurance, investments, estate planning, medical aids and short term insurance. Our staff are fully trained and meet the high demands set by the Financial Services Board.
Authorised Provider for
Financial Services:
Jan van Niekerk en Vennote/Partners,
FSP no: 13610
Jan van Niekerk Versekeringsmakelaars
(Edms) Bpk,
FSP no: 25214
We will help you:
A solid investment solution starts with financial planning, knowledge, analysis and commitment to your dreams. Whether you are comfortable investing on your own, or looking for helpful, professional advice, we will help you choose the best investment solutions and create the best long-term investment strategy, at a level of risk that you are comfortable with.
Approximately one third of your life will be spent in retirement. Though you cannot control the future, you can create an effective retirement plan that will help you shape your future and take care of your worries about the future. Effective retirement planning will empower you to have a happy and carefree retirement.
Guidelines for effective retirement planning:
1. Design the lifestyle you want to live during retirement
It is only when you can see the future clearly that you can start to design your retirement plan. That is why retirement planning starts with getting a clear mental picture of your desired lifestyle after retirement.
2. Assess the factors that can drastically impact your retirement
3. Determine the gaps in your savings strategy
by estimating your income and expenses according to the number of years you expect to live off your savings. Current estimates suggest that you might need approximately 80-100% of your pre-retirement income to live comfortably. If you don’t identify and address these gaps you might run into trouble in the future.
4. Acquaint yourself with the key components of a successful retirement income plan (e.g., budget, asset allocation strategy, withdrawal strategy)
Know what actions need to be taken for a successful retirement, and what resources are available to provide support and guidance.
5. Make sure that you understand your retirement benefits i.e. benefits you will continue to receive in retirement from your employer or retirement annuities, and familiarize yourself with how they will work e.g. how to choose the best payout options. Be sure to factor in your spouse’s benefits as well, where applicable.
6. Assess future health care needs and maximize savings
Specifically intended to meet future health care costs. During retirement planning, consider funding long term care insurance, if you haven’t done so already.
7. Create a retirement planning strategy that covers your expenses
and how much income you will withdraw from your assets. Some advisors suggests that withdrawing more than 4 percent increases the likelihood that retirees will deplete their assets prematurely.
Our office staff is trained and dedicated to assist with any questions. Please contact us by using the details below
Short term insurance
Amanda Stokes: (011) 704 0010
E-mail: info@fin7.co.za
Long term insurance
Nicolene Janse van Rensburg: (011) 704 0010
E-mail: nicolene@fin7.co.za
Street Address:
Ruimsig Office Estate,
Building 6, First Floor
C/O Peter Road and Hole-in-one Street
Ruimsig 1724
Postal address:
PO Box 910
Featherbrooke Estate, 1746
