A financial plan is a document containing a person's current financial situation, long-term monetary goals, and any strategies developed to achieve those goals. Advisors need an understanding of these financial plans in order to determine the best course of action to achieve them. To make this easier for Advisors, and to keep all this information in one place, Salentica Engage has added the new entity call the Financial Plan. This is where these details about the Financial Plan can be logged, revisited, and adjusted as needed for team members to reference when having this important discussion with clients.
On an ongoing basis, users can document the client’s goals as they change and add amendments to the Financial Plan as necessary. Detailing Return Objectives, Risk Objectives, Liquidity, and Life Expectancy on the Financial Plan will help build the framework for the client’s IPS.
Hierarchy
Financial Plan is located under the Relationship entity. Underneath the Financial Plan, users can track Goals and Amendments (1 to many relationship).
What's included in a Financial Plan?
| Field Name | Field Type |
| Name | Text & Required |
| Last Review Date | Date |
| New Review Date | Date |
| Current Situation | Text Area |
| Proposed Situation | Text Area |
| Relationship | Look Up - Filled w/Relationship |
| Tax Filing Information | Look Up to Tax Filing |
Liquid Analysis |
|
| Field Name | Field Type |
| Return Objective | Text |
| Risk Objective | Text |
| Liquidity | Text |
| Life Expectancy | Text |
Related Records
- Financial Plan Goals
- Financial Plan Amendments
- IPS
- Financial Assets
- Financial Liabilities
- Legal Entities
