We provide an array of services under the gamut of Financial Planning considering various aspects such as insurance, retirement, goals, investments, taxation, liabilities management etc. We also do investments in mutual funds for NRIs.
We develop a customised financial plan for each client, which in turn helps them to work towards their retirement planning and Tax planning. The financial plan thus developed also takes care of Insurance for you and your family, while taking you towards your personal finance goals.
Financial Radiance provides complete support in the path to be walked by you towards financial security, by monitoring and guiding you on various necessary steps to be taken, and also not to be taken in steps in your pursuit of your Life Goals be it an independent villa, overseas education for children, dream vacation, following your passion, secure peaceful retirement. Financial security is what we all seek…
Most people in their subconscious want to plan out their finances well. But, it often takes a backseat due to lack of financial expertise and other pressing commitments like work pressure, children’s education, following passions, taking care of elderly at home or just for any other reason.
Should I buy that house I am eyeing for a long time, or should I continue to stay in a rented house?
Inflation is rising, will I be able to maintain the same lifestyle, after retirement?
I am the sole earner of my family, if I were to face a job retrenchment; will my children’s future suffer? What if I am no longer there, or I am incapacitated and not able to work?
If any of these resonate with you, then you already understand the need for financial planning and just need a good professional to hold your hand and walk with you.
We at Financial Radiance are committed to the process of financial planning and believe that a good financial plan is an integral part of a happy life lived in a state of peace and being at ease with money. Financial Radiance walks with you in your journey to your Financial freedom.
- A financial plan is the shared responsibility of the advisor as well as the client. Both need to commit themselves to follow a discipline and ensure that they do not deviate from the commitments made for achieving the optimum results.
- The purpose of financial planning is to provide the right amount of resources/money, at the right point of time, in the right hands. In other words, one who is financially free has the ability to: 1. Do what he wants to do 2. When he wants to do it 3. The way he wants to do it.
- A financial plan is not limited to achieving only goals; it also takes care of the risks that a client is exposed to, while on the path to his desired goal or goals.
- if you are an employee, you live with the risk of losing your job? if you are an entrepreneur, there is a likelihood of your business going through a prolonged slump? What if the main bread winner of the family suffers an accident or is invalid for a long time or suffers loss of life? These are uncomfortable thoughts, but if such a thing were to happen, it would take a heavy toll on the dependents and the person himself. Interestingly, these risks can be mitigated with simple, common sense ideas and financial plans.
Medical costs are so high; I do not wish our financial plans to get derailed because of some unforeseen medical emergency.
We travel a lot, should my house be insured against theft?
Dreams and hopes amid uncertainty mark our lives and providing ourselves appropriate protection is what makes Insurance a very important, but often neglected aspect of financial planning. Insurance is also important considering the factor of inflation which makes everything so expensive over the years. Insurance could be of various types depending on its need: Life Insurance, Health insurance, Home insurance and Car insurance.
We at Financial Radiance, provide you guidance and advice in getting the best insurance commensurate with your needs. We believe that insurance provides all of us lot of mental comfort and relief to protect us from uncertainties. However, at the same time, we should take the product which is more suitable for our own needs and not just which is being sold to further someone’s selfish interests.
- Life Insurance provides you triple benefits, the assurance that if something were to happen to you, your family gets an assured amount of money; it serves as flexible money saving scheme and also gets you tax saving benefits! Life Insurance needs to be evaluated as one moves across various life stages, e.g. if number of dependents have increased, investment goals have changed and also if there are other kinds of Insurance for other kinds of assets.
- Unit Linked investment Plans (ULIPs) offer the safety of Insurance protection coupled with wealth savings option. Health Insurance on the other hands provides you and your family protection against critical illness, accidents and hospitalization, While Home Insurance provides you insurance against natural hazards like earthquake and floods as well as social perils like riots, burglary, acts of terrorism and war.
- Automobile insurance protects you from financial loss in the event of an accident or loss of vehicle.
I want to leave a legacy for my children/grandchildren…
I should have a regular income in my old age..
I aspire to have a Summer home and continue to travel after my retirement..
Retirement planning refers to a state of being able to earn a steady income through certain assets or set aside money, so that working after a particular age becomes a choice rather than a necessity.
We, at Financial Radiance, help you in assessing how much money would you really need for your retirement. Retirement has a different meaning for different people. While some would just want to put their feet up and relax, there are others who plan for a second innings during retirement, like volunteering, social activities, extensive vacations, second career, pursuing education etc. We help you think about what your ambition is, help you quantify funds needed for the same and then work towards achieving those goals by the time you retire.
- We need to be retired ready to develop some immunity to unforeseen turns that life takes, to pay for unforeseen medical expenses, typically associated with old age and to be able to leave behind some financial legacy for our children/grandchildren.
After extensive discussions, we at, Financial Radiance, arrive at the asset allocation and then determine the appropriate products which are needed for investment. The research is also a continuous process. Regular meetings with the fund managers for various funds – whether in person or over phone conference calls also help in this process as it is very important to understand their perspectives on the macro economy, industry outlook and their approach towards investments.
- The process of implementation is seamless with minimal documentation and is done through the BSE Star MF Platform. For tracking of investments, the clients are provided with an App wherein portfolio valuation happens on a daily basis along with the availability of various reports such as Portfolio Summary, Capital Gains etc. Seamless investment implementation reduces the operational work and provides us the opportunity to work on more value-added services like interacting with clients on their goals, tracking of goals, portfolio reviews, research etc.
We, at Financial Radiance, make recommendations considering the tax slab of the prospects. We keep ourselves updated with the ever-changing tax rules, and if needed, tweak our investment recommendations accordingly.
- Financial investments can have two types of taxes – short term capital gains and long-term capital gains tax, depending on the type of investment and the time horizon. While Financial Radiance does not directly do the tax filing for its clients, but can provide assistance in recommending someone trusted for the same who can do the tax filing for you in a very seamless and efficient manner.
- NRIs need to be aware of some more aspects relating to taxation while investing in India. Financial Radiance would work with you in providing you the necessary support.
- For those already invested in a home and servicing Equated Monthly Instalments (EMIs), we analyse your pay outs and then make a recommendation whether you need to make any changes, pre-payments, acceleration of monthly payments etc. considering various factors like saving of taxes, investment opportunities. We also provide support for various other decisions like rent versus buy, real estate as an investment etc.
- World’s Fifth largest economy and fastest growing with growth rate of 7.4% p.a.
- Consistent equity market returns, backed by strong corporate earnings
- Unlike real estate, large amount of money not needed for investment in equity
- Mutual funds need lesser attention. Work with your financial advisor in determining the right portfolio based on risk profile and time horizon and then leave it to him and the fund manager
- Easy remittance of earnings from India
- Taxation laws relaxed for NRIs. Also Double Taxation Avoidance Agreement (DTAA) Benefit
- Online investment & redemption making process seamless
- Inflation in India high. Need to invest in India to beat that especially if there are long term plans of returning to India
- Permanent Account Number (PAN) – PAN is a mandatory document required for investment by all – Resident Indians and NRIs. While Financial Radiance itself will not apply on your behalf, we would guide you through the process. It is a very simplified and online process now to apply for PAN.
- Know Your Customer (KYC) – KYC is mandatory for investments in mutual funds. The process for KYC is different for Resident Indians & NRIs. We would work with you in getting all the relevant documents and will get the KYC processed.
- Bank Accounts – NRIS can open various types of bank accounts for investments like NRO & NRO in India. Every type of account has its own features and relevance. Financial Radiance would provide you the necessary support in advising you the appropriate bank account for your investments.