Single Window Services Chapter 2. ORGANIZATION PROFILE 2.1 History of Organization (Alparambha: Kshemakara) – It’s always advisable to make a small and humble beginning. It ultimately pays off handsomely in the long run. The concept of Single Window Services (SWS) came out of a need to provide a customer-centric, hassle-free and highly reliable package in an environment of complete trust and credibility. Promoted by a highly qualified technocrat with a keen eye for financial markets, SWS today is a symbol of quality, reliability and, above all, complete credibility. The products and services offered by SWS encompass a vast array of financial options such as Life & General Insurance, Mediclaim, Deposit schemes from reputed corporate houses, Postal & other Savings Schemes, Automobile, Home & Personal loans, Mutual Funds and, above all, all forms of policy servicing. The SWS was incorporated in 1994, and the certificate of Commencement of Business in 1996. The age-old wisdom, which has percolated over generations, has proved its efficacy time & again in whatever ventures we pursue. This, precisely, is the philosophy that is followed at Single Window Services, a complete solution provider for all your 9
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Single Window Services
Chapter 2. ORGANIZATION PROFILE
2.1 History of Organization
(Alparambha: Kshemakara) – It’s always advisable to make a small and humble
beginning. It ultimately pays off handsomely in the long run.
The concept of Single Window Services (SWS) came out of a need to provide a customer-
centric, hassle-free and highly reliable package in an environment of complete trust and
credibility. Promoted by a highly qualified technocrat with a keen eye for financial markets,
SWS today is a symbol of quality, reliability and, above all, complete credibility. The products
and services offered by SWS encompass a vast array of financial options such as Life & General
Insurance, Mediclaim, Deposit schemes from reputed corporate houses, Postal & other Savings
Schemes, Automobile, Home & Personal loans, Mutual Funds and, above all, all forms of policy
servicing.
The SWS was incorporated in 1994, and the certificate of Commencement of Business in 1996.
The age-old wisdom, which has percolated over generations, has proved its efficacy time &
again in whatever ventures we pursue. This, precisely, is the philosophy that is followed at
Single Window Services, a complete solution provider for all your financial needs, future
provisions and planning.
It has been our constant endeavors, as the name aptly suggests, to provide a complete bouquet of
financial services to all our clients; be it life or general insurance, or a multitude of investment
options available in today’s ever-expanding world; or simply future planning with some specific
goal in mind via a single interface.
Although most professionals today tend to think that they have adequate life and health
insurance cover, the ground realities prove otherwise. In most cases, this realization comes too
late. In order to overcome this problem, SWS has adopted a unique methodology of Investment
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& Insurance Audit for all its clients. This helps them realize their actual value and take
appropriate corrective steps well in time.
In today’s ever-changing world, keeping up-to-date is mandatory at all levels of functionality.
Training & Orientation Activity, therefore, has become an inseparable part of any enterprise.
SWS, apart from offering turn-key, single-stop financial services, has also provided for a
comprehensive facility that can be used for conferences, meetings, training & orientation
seminars, mini-exhibitions, on-line examinations, etc.
With a capacity that can accommodate 30 participants, the centrally air-conditioned Training
Hall at SWS provides the best of audio-visual facilities combined with comfortable seating and a
soothing ambience to help make any program a grand success. A state-of-the-art public address
India Real Estate Investment is a significant feature of the Indian realty market under the
initiation of the investors and developers, leading to future real estate development in India. The
development of private ownership of property real estate in India has become a major area of
business with India Real Estate Investment playing the vital role. India Real Estate Investment
involves minimum risk for getting maximum return.
India Real Estate Investment has rising demand in every sector like commercial, residential,
retail, industrial and hospitality. But maximum demand is observed in the booming IT sector.
The India Real Estate Investment is facilitated by the liberal economic policies of the
government.
Factors Favoring India’s Real Estate Investment
Increasing growth in residential properties due to lower interest rates, easy availability of
housing finance, rising income, better job prospects and increase of nuclear families.
Growth of retail market in India due to increasing demand from retailers, higher
disposable incomes.
Burgeoning IT and ITES industry
Growing commercial property market
Emerging hospitality or hotel industry due to the exceptional boom in inbound tourism
and the IT sector.
Development of the special economic zones (SEZ).
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3.2 Presentation of the information either in Tabular form and /
Graphical
What are Risk Analysis and Portfolio Planning?
Risk Analysis
Risk analysis is very important tool for portfolio planning, because each persons risk appetite is
different due to reasons like income level, age, mentality, financial goals and objectives. So
Portfolio planner must have to find out the risk appetite of the client with the help of RISK
ANALYSIS tool. By analyzing the risk of client the portfolio planner came to know whether the
client is AGGRESSIVE, MODERATE, and CONSERVATIVE.
Basic Types of Portfolios
In general, aggressive investment strategies - those that shoot for the highest possible
return - are most appropriate for investors who, for the sake of this potential high return, have a
high-risk tolerance (can stomach wide fluctuations in value) and a longer time horizon.
Aggressive portfolios generally have a higher investment in equities.
The conservative investment strategies, which put safety at a high priority, are most
appropriate for investors who are risk averse and have a shorter time horizon. Conservative
portfolios will generally consist mainly of cash and cash equivalents, or high quality fixed
income instruments. To demonstrate the types of allocations that are suitable for these strategies,
we'll look at samples of both a conservative and a moderately aggressive portfolio.
Note that the terms cash and the money market refer to any short-term, fixed-income
investment. Money in a savings account and a certificate of deposit (CD), which pays a bit
higher interest, are examples. (You can read more about the money market in the.)
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1. Conservative portfolio: -
Conservative model portfolios generally allocate a large percent of the total portfolio to
lower-risk securities such as fixed-income and money market securities.
Your main goal with a conservative portfolio is to protect the principal value of your
portfolio. As such, these models are often referred to as "capital preservation portfolios".
Even if you are very conservative and prefer to avoid the stock market entirely, some
exposure can help offset inflation. You could invest the equity portion in high-
quality blue chip companies, or an index fund, since the goal is not to beat the market.
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2. Moderately Conservative Portfolio: -
A moderately conservative portfolio is ideal for those who wish to preserve a large
portion of the portfolio’s total value, but is willing to take on a higher amount of risk
to get some inflation protection.
A common strategy within this risk level is called "current income". With this strategy,
you chose securities that pay a high level of dividends or coupon payments.
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3. Moderately Aggressive Portfolio: -
Moderately aggressive model portfolios are often referred to as "balanced portfolios"
since the asset composition is divided almost equally between fixed-income securities
and equities in order to provide a balance of growth and income.
Since these moderately aggressive portfolios have a higher level of risk than those
conservative portfolios mentioned above, select this strategy only if you have a longer
time horizon (generally more than five years), and have a medium level of risk tolerance.
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4. Aggressive Portfolio: -
Aggressive portfolios mainly consist of equities, so these portfolios' value tends to
fluctuate widely. If you have an aggressive portfolio, your main goal is to obtain long-
term growth of capital. As such the strategy of an aggressive portfolio is often called a
"capital growth" strategy.
To provide some diversification, investors which aggressive portfolios usually add some
fixed income securities.
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5. Very Aggressive Portfolio: -
Very aggressive portfolios consist almost entirely of equities. As such, with a very
aggressive portfolio, your main goal is aggressive capital growth over a long time
horizon.
Since these portfolios carry a considerable amount of risk, the value of the portfolio will
vary widely in the short term.
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Portfolio Planning
After analyzing client’s risk appetite portfolio planner starts his actual work of Portfolio
Planning.
Firstly portfolio planner finds out the goals and objectives of his clients for investing in
the right direction.
Then he designs the investment of his client in stock market, mutual fund, insurance,
FD’s, realty investment and bonds etc. for making diversified portfolio.
After designing the client’s portfolio, portfolio planner discussed his proposed
investment pattern with his client and after getting approval from him he actually invest
his money.
After making investment, Portfolio Planner has the duty to keep regular watch on client’s
portfolio.
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3.2Data Interpretation and Analysis
Sample Portfolio of different backgrounds, financial conditions, objectives and financial
goals –
To study the risk analysis, portfolio analysis and planning we need to study live cases to
understand how it works and beneficial in practical life. For this I decided to take live examples
of different persons with different objectives, financial conditions, objectives and goals.
Procedure for making Portfolio of the client –
Fill up the Risk analysis and portfolio analysis of the client to know his/her personal and
financial details.
Then analyze the Risk Appetite of the client.
Then understand his/her financial goals.
Then study the cash inflow and outflow pattern of the client.
After this study the existing Investments of the client.
Then prepare the Model investment Portfolio for client.
After clients free consent for the proposed plan, invest his/her money according to that.
After this keep regular watch on clients Portfolio and make necessary changes wherever
required.
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Case.
________________________________
Personal Financial Plan
For
Mr. Satish Deshpande & Family
________________________________
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Introduction
Goals and Objectives
Current Financial Situation
Assumptions
Cash-Flow Management
Risk management / Insurance planning
Education Planning
Retirement Planning
Investment Planning
Estate Planning
Tax Planning
Implementation / Action Plan
Appendix 1: Personal Data
Appendix 2: Personal Financial Fact-Finder
Single Window Services
Introduction
Satish, you are 42 years old, married to Pushpa age 39 recently.
You are currently earning Rs. 1352000/- p.a. and main support for the family. Pushpa’s income
in mainly for her own savings and personal use. Within next 2-3 yrs she will stop her
consultancy and focus on your children’s education and home.
You are very keen on insurance part. And paying almost 200000/- premium p.a. Total 14
policies with sum assured Rs. 3815000. Majority of the policies are Endowment and few Term
Insurances.
Your Net worth analysis shows a net worth of Rs. 4590000/- Total Assets now in July 2008 are
Rs. 8182000/- and liabilities of Rs. 3592000/-
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Your Objectives & Concerns
1. Cash Flow & Net worth Management
To have a significant cash flow surplus annually of around 15-18% of household
gross income in order to provide a funding source for all future wealth accumulation
targets. Any cash flow review should not significantly change your lifestyle.
2. Risk planning & Management
You want to have a complete family’s personal insurance program. This includes
covering all debts and having lump sums for generating income for the surviving
family members.
3. Education of both the children.
You have 2 sons. Your goal is to give them the Best quality of Education in best
colleges in India. By, retirement, you expect both of them to be independent and do
not need financial support.
4. Retirement Planning
You have some personal savings. Your goal is to retire at age 60. At that time you
want maintain the standard of living same as before retirement for yourself and
spouse. Lowering the standard is unacceptable. You are however not aware whether
the current recourses are adequate to provide retirement needs.
5. Investment Planning
Asset portfolio should grow at a rate, which supports the realization of the wealth
accumulation goals for financial freedom (retirement) and education for children.
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6. Estate Planning
To have wills written for both husband and wife and to have a trust set up for the
child.
7. Tax Planning
To optimize tax savings under the Indian tax system. You are keen on using up all
personal tax relieves and rebates and to have good income reallocation planning.
Sub-Objectives
1. Good long term capital appreciation
2. Returns from investment should be tax free or with minimum tax
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Current Financial Situation
Cash Flow Analysis
In-Flow Rs Out-Flow Rs.
Satish Income (after tax) 1,352,040 Tax Payment
Pushpa's Income (after tax) 165,000 Satish Tax 225,000
LIC Maturity 134,000 Pushpa's Tax 0
Dividend Received 20,000
Bank Interest 2,100 Subtotal 225,000
Standard of Living
Car loan installments (Honda City) 212,400
Car loan installments (Wagon R) 79,764
House loan installments 225,144
Personal Loan 235,392
Car maintenance 19,000
House maintenance 12,000
Credit Card payments 6,122
Eating out 48,000
Groceries 12,000
Travel 50,000
Utilities 60,000
Miscellaneous 69,500
Subtotal 1,029,322
Insurance Premium
Satish life insurance 108,264
Pushpa's life insurance 57,901
Vehicle Insurance 12,686
Other Insurance 21,000
Subtotal 199,851
Total 1,673,140 Total 1,454,173
Difference 218,967
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Cash out Flow is
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Net worth Statement – Current
Assets Rs. Liabilities Rs.Liquid assets: Home Loan 1780000Cash in hand 20000 Car loans 456000Saving account 116950 Personal Loan 1356000Fixed Deposits 0 Mutual Funds 776000 Sub Total 912950 Non-liquid assets: Properties 3500000 Equities 200000 PPF 1005789 Cars 800000 Life insurance cash value 764053 Other Assets 1000000 Sub Total 7269842 TOTAL 8182792 TOTAL 3592000 NETWORTH 4590792
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Net worth Statement – Current
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Risk Management/Insurance Planning
The current personal insurance summary is as follows:
Person Plan type Premium p.a. Insurance Cover
Mr. Satish Endowment + Term Insurance 92533/- 3815001/-
Mrs. Pushpa Endowment 56550/- 1142653/-
Master Umesh Unit Linked 6395/- 75000/-
Master Amey Unit Linked 6351/- 100000/-
The current property insurance summary is as follows:
Property Sum Assured
Current House Not Insured
Cars Adequately Covered
Other Household Assets Not Insured
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Investment Planning
The following table lists out the portfolio of investment-grade assets currently owned and the
portfolio return rate:
Asset Rs Return Rate Weighted Return Rate
Saving Account 116,950 3.50% 0.14%
Equities 200,000 18.00% 1.26%
Life insurance Value 764,053 4.50% 1.20%
Mutual funds 776,000 15.00% 4.07%
PPF 1,005,789 8.00% 2.81%
Total: 2,862,792 Portfolio Return: 9.48%
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Retirement Planning
There is currently no clear plan on retirement. You have not really focused on this aspect. It
seems that your major focus is on your current profession and you have not given a thought on
Retirement Planning.
Education Planning
It seems that you have not specifically allocated funds for education funding of your two sons.
Estate Planning
There is no arrangement of any nature including will and trust done, other than the nominations
done for Mutual funds and Insurance policies.
The other facts and data are collected in the “Personal Financial Fact-Finder” form as attached in
the Appendices.
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Assumptions
Following are the assumptions based on the facts and discussions with you.
Your income will increase at the rate of 10 % per annum until age 60.
Spouse’s income will stop within next 3 years.
Rate of inflation at 7 % per annum based on government official rate on Consumer Price Index.
Equities investment rate of return at 18% p.a. on long-term basis.
Property investment rate of return at 10 % p.a. covering capital gain.
Investment-linked equities funds at rate of return of 15% p.a.
Investment-linked bond funds at rate of return of 7.5 % p.a.
Pre-retirement investment portfolio rate of return should be 12%
Post-retirement investment portfolio rate of return = 10%
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Recommendations
Cash Flow Management
The current cash flow surplus is very low at around 2 Lacs per annum. Based on no change or
very minimal change in lifestyle, we have studied and done an analysis.
In recommending changes, we have kept in mind some basic principles:
Your lifestyle needs to be maintained as original as possible.
Any reshuffling of assets including paying off debts or loans must leave behind enough liquid
assets that cater to the 3-6 months’ of emergency buffer fund.
Our analysis and recommendations:
As you are living with your parents the household expenses are very much in control. We should
really appreciate that you don’t have any balance on credit card. In your routine outflow the
major contribution is of EMI of different loans. We will see any alternative available to reduce
the EMI contribution.
Car Loan (Honda City): - In this case the loan was taken in 2003. As it is higher end car the
loan rate is vary low. It comes out to be 6.7% only. So its better we should keep it as it is. The
loan will end in Aug 08
Car Loan (Wagon R): - This loan is also at lower side. Interest rate comes out to be 8%. Better
to continue this loan without any change.
House Loan: - In this case the interest rate is almost same with other banks so there is hardly
any scope for debt arbitrage.
Personal Loan: - This is taken from 3 banks at different time and at different rate. The average
interest rate of all 3 loans comes out to be 16%, which is slightly on higher side.
This is the area where we can think of repaying it earlier.
Total outstanding amount is Rs. 1356000/-
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We have various options available to repay this loan.
Your Insurance portfolio shows that majority of the policies are of Endowment type and few are
Term insurances. We have taken out the Loan quotation for all those endowment policies. Total
Loan available is around Rs. 587000/-. Loan interest rate is 9%
Current value of your investment in Mutual Fund & Shares is Rs. 976000/- we have a product
called Loan against Securities. (LAS) current interest rate for that is 13%. We can pledge all the
investment in those against which 50% loan will be available. i.e. Rs. 488000/- will be available
at 13% we will utilize Rs. 450000/- from that. Surplus of Rs. 38000/- will be available which we
will not utilize as LAS is fluctuating on market, so it will act as buffer to adjust the market
condition.
Currently PPF has much more amount getting 8%. We will withdraw Rs. 319000.
Adding above 3 (587000+450000+319000) we will get Rs 1356000/-
We can close the personal loan from above amount.
Another important point is in LIC loan interest payment is mandatory (4.5 % of loan amount
half yearly) LAS is CC loan. Hence we can adjust the principle repayment in both the loans as
per our wish.
Considering that we will repay the principle also then equivalent EMI will be 11338/-
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If the above reductions are implemented, the new cash flow statement will look like the
followings:
Cash Flow Statement - Revised
In-Flow Rs. Out-Flow Rs.Satish’s Income (after tax) 1,352,040 Tax Payment Pushpa's Income (after tax) 165,000 Satish Tax 225,000LIC Maturity 134,000 Pushpa's Tax 0Dividend Received 20,000 Others Bank Interest 2,100 Subtotal 225,000 Standard of Living Car loan installments (Honda City) 212,400 Car loan installments (Wagon R) 79,764 House loan installments 225,144 LIC Policy Loan 69,192 Loan Against Securities 66,864 Car maintenance 19,000 House maintenance 12,000 Credit Card payments 6,122 Eating out 48,000 Groceries 12,000 Travel 50,000 Utilities 60,000 Miscellaneous 69,500 Subtotal 929,986 Insurance Premium Satish’s life insurance 108,264 Pushpa's life insurance 57,901 Vehicle Insurance 12,686 Other Insurance 21,000 Subtotal 199,851 Total 1,673,140 Total 1,354,837 Difference 318,303
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The new net worth statement after debt arbitrage will be as follows:
Net worth Statement – Revised
Assets Rs. Liabilities Rs.Liquid assets : Home Loan 1,780,000 Cash in hand 20000 Car loans 456,000 Saving account 116950 LIC Policy Loan 587,000 Fixed Deposits 0 Loan Against Securities 450,000 Mutual Funds 776000 Sub Total 912950 Non-liquid assets : Properties 3500000 Equities 200000 PPF 686789 Cars 800000 Life insurance cash value 764053 Other Assets 1000000 Sub Total 6950842 TOTAL 7863792 TOTAL 3,273,000 NETWORTH 4,590,792
Here, we can see a dramatic change in the cash flow surplus. From Rs. 2.18 Lacs surplus, we
now have a surplus of Rs. 3.18 Lacs, which can be used to fund your goals and objectives in life.
This surplus is necessary to do the funding, as current assets may not be sufficient to do the task.
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Risk Management/Insurance
Personal Insurance
You are keen to upgrade your family’s insurance program so as to meet the goal and objectives.
Calculations for Sanjay’s sum assured :
Death & Total and Permanent Disability
As you are the breadwinner of the Family, there are certain responsibilities that you have to
complete,
There are 2 types of liabilities, which we should consider while deciding the Sum Assured.
1. Legal Liability
2. Moral Liability
1. Legal Liability
Head Amount
House Loan 1780000
Car Loan 456000
Other Loans 1356000
Total 3592000
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2. Moral Liability
a. Maintaining same life style of the family
Based on principal liquidated basis:
Family should get at least Rs. 20000/- Monthly, which will cover the pension of
spouse also.
Rate of Return: 8% (Risk Free)
Inflation: 5%
Inflation Adjusted Rate of Return: 2.86%
Principle amount req. today = Rs. 6644000/-
b. Education of your children
Present value of Future requirement of Education of both the children is calculated
which comes out to be: Rs. 854200
Mr. Sanjay Rs.
Legal Liability 3592000
Moral Liability 7498200
Less: Current insurance 3815001
Less: Net worth of family on investment
assets only i.e. S/A, Equities, Mutual
Funds, PPF, Cash Value of Insurance
2543792
Additional insurance required 4731407
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For wife, the need of wife will be arbitrary as if something were to happen to her,
husband will continue working and supporting the remaining family. Therefore, sum
assured of half of husband’s amount (Moral Liability) i.e. Rs. 3700000 should suffice.
Wife Rs.
Total basic sum assured needed 3700000
Less: Current insurance 1100000
Additional insurance required 2600000
For the children, death cover will not be an important need as the financial loss to the
parents will be minimal. However, disability cover is needed and it is recommended that
disability income of Rs. 4000/- per month per child be given. To generate this income
perpetually with 8% (risk free rate), a basic sum assured of = Rs. 600000/- is
recommended for both the children
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Education Planning
Table of cost for the degree program for Children.
Cost required for tuition fees and living expenses for degree course today’s is Rs.100000/- per
year & for Post Graduation is Rs. 200000/-
Considering 7% inflation in education amount required will be
This will keep the asset allocation same as required
We have added Debt Funds in your portfolio. They are almost liquid as saving account. But the
yield is almost double than the saving.
This restructured portfolio will give 12 % return in order to meet your accumulation goals.
However, such restructuring must meet the risk profile of you in which we have matched. If it
does not, the financial planner will need to discuss again with you again if they can arrive to
some acceptable conclusions which include but not limited to, making some changes to your
goals and objectives.
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Estate Planning
The need for estate planning centers more on will writing, trust creation and estate distribution.
A will is recommended to be written to instruct the trustees to distribute all wealth to the
beneficiaries as per the wishes of you should he be demised.
To ensure assets go to the right person(s), it is recommended that all nominations must be
properly done for all insurance policies and mutual funds.
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Tax Planning
Tax relief & rebates
You are keen to maximize whatever relief and rebates you can get so that he can pay minimum
taxes.
You already have a taken a good care of Taxes
You have full advantage of Home loan interest repayment.
Life Insurance policies itself takes care of tax rebate u/s 80 C
As we have increased the Health Insurance premium you will be able to get full benefit u/s 80 D
Frequent Churning of shares used to generate Short Term Capital Tax. Now as per new
recommendation your equity portfolio will be handled by professionals, they will take good
stocks and hold them for at least more than a year. Hence Short Term Capital Tax will be
minimized.
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Implementation/ Action Plan
What Who to do it DeadlineApply for loan from LIC Client 1 July 08
Withdraw amount from PPF Client 1 July 08
Withdraw the amount from Mutual Funds
Client 1 July 08
Invest the amount in Equity Financial Planner 15 July 08
Apply for Loan against Securities Financial Planner 1 July 08
Complete the LAS Financial Planner 15 Sep 08
Repay the Personal Loan Client 20 July 08
To prepare and complete a comprehensive insurance program for the entire family
Financial Planner 1 July 08
To review retirement planning goals and objectives
Financial Planner + Client 10 July 08
To restructure the current asset portfolio from 9.48% to 12.0%
Financial Planner 15 July 08
To get a will written and nominations for others.
Financial Planner 10 July 08
Review the portfolio Financial Planner + Client 15 Dec 08
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Appendix 1
Personal Data
Area Satish Pushpa Umesh Amey
Birth date 1 Sep 1965 27 Mar 1967 19 Jan 1995 15 May 1998
Sex Male Female Male Male
Marital status Married Married Single Single
Address Same Same Same
Occupation Consultant Consultant Nil Nil
Employer Self Employed Self Employed Nil Nil
Income from employment
Rs. 1352000/- per annum
Rs. 165000/- per annum
NA NA
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Chapter 4. Conclusion of the study
Most of people unaware about Financial Planning.
Mainly businessman & salaried person are more interested to do Financial Planning.
Mutual fund advertisement not succeeds in creating awareness in the people.
Most of investor does not know that how Portfolio Generate profit.
People are more interested in investing in traditional Investment options like insurance, FD, post.
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Chapter- 5 Recommendations and suggestions
Co. should have to increase awareness in the customers.
Create a new tools and techniques which will easy to understand for clients.
Co. has to use effective Medias that can appeal to the masses.
Make those ads, which can educate customers about financial planning.
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QUESTIONNAIRE
PERSONAL FACT FINDER Date: 28-june-08
Name: - Satish DeshpandeAddress
Phone No. Fax No.
Date of Birth 1-Sep-65Marital Status Married
Relation Name Age OccupationSpouse Pushpa 39 Self EmployedChild 1 Umesh 12 EducationChild 2 Amey 9 Education
Education Background B.E. MBA
Occupation Husband- ConsultantWife- Consultant
Employer Self Employed
Q. Brief summary of your working experience?Working as a Consultant from last 12 Yrs.
Q Personal legal Advisor Mrs. GodhaQ Personal Accountant Mr. Sandip DeshmukhQ Personal Tax Advisor Mr. Sandip DeshmukhQ Insurance Agent Mr. Deepak KulkarniQ Current Annual Income 1352000/-
Q Last 3 Years Annual IncomeYear 2007-2008 1352000/-Year 2006-2007 1217000/-Year 2005-2006 1095000/-
Q What is the average annual increment rate?10%
Q Average annual taxes paid in the last 3 years?180000/-
Q Are income tax withheld appropriately from your employment income?
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N/A
Q Are your income tax returns prepared by you or a professional accountant?Professional Accountant
Q Do you file income tax jointly or separately with your spouse?Separately
Q DO you have a personal retirement plan?No
Q At what age do you want to retire?60
Q What concerns you most about retirement?Monthly Income
Q What does retirement mean to you?Involving in Social Work, Traveling, Develop my personal hobbies
Q Do you expect to maintain, upgrade or reduce your pre-retirement standardof living during retirement?Maintain pre-retirement standard after retirement
Q Do you think your current retirement program provide adequately for your Retirement income needs?Don’t know
QAre you willing to lower your standard of living during retirement?No
Q Do you have dependants you need to care for during retirement?No
Q How much do you need now to maintain your current standard of living?Minimum Rs 350000/- without considering loan repayment
Q What assets do you currently owned?Two CarsHouse
Q Are any property individually owned by you or your spouse?Yes
Q What other investments have you invest in?PPF, Shares, Mutual Funds
Q What is your opinion on the following investment?
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StocksI like to take risk and the trading activity
Properties One is sufficient which I am not going to sell ant timeMutual Funds They are good as an investment optionFixed Income Not really interested/Don’t want taxable incomeOthers PPF is good Government scheme
Q CompanyQ What existing benefits does your company provide as retirement benefits?
N/A
Q How do you foresee your future with this company?N/A
Q Does the company have any retirement gratuity or death gratuity for employees?N/A
Q Do you own any shares in the company?N/A
Q What will happen to the shareholding upon death, disability or retirement?N/A
Q What is your plan 5 years from now?My wife will stop working within next 3 yrs. Planning to expand the consultancy
Q What percentage of retirement fund contributions is your company contributing?N/A
Q What is your current retirement fund balance?N/A
Q Have you made any withdrawals from retirement fund?No
Q Do you plan to make any withdrawals in the future?No