Financial Planning Process

About our Process

Wynsam Wealth follows the internationally accepted practice methodology known as the “Practice Standards” as regulated by the Certified Financial Planner Board of Standards Inc. These standards have been developed internationally over many years by professional financial planners and, to the detriment of most consumers, are not universally practiced in South Africa.

Step 1: Establishing and defining the professional relationship

We have documentation that we supply on the initial contact explaining Wynsam Wealth’s practice methodology and what you can expect from the relationship. Full costs disclosure is also made at this meeting. It is important to clearly define what both parties can expect. Once you decide to come on board, the process moves onto step 2.

Step 2: Gathering Client Data – Establishing the circumstances, personal and financial goals and objectives of the client.

An initial consultation gets the process started. At this stage we gather information about who you are, what you need from a financial plan and where you would like to be in the future. There are a number of documents we will need from you as this point which all help to build the framework of your current financial life. Once we have an idea of the work involved we will also provide you with an idea of the costs involved in proceeding to the next step. Understanding what, who, how and when is what this process is about. Remember garage in garbage out. The more we know the better we can help.

Step 3: Analysing information

This is an analytical process followed based on the information and documentation gathered in step 2. There are a number of tools and programs used in this process. We will consult experts in certain fields if we don’t have the needed knowledge in-house. We will do research, we will look at your situation from an unbiased, objective point of view. We will look at the situation from many different angles and various scenarios will be considered before we proceed to the next step.

Step 4: Preparing and Presenting Recommendations and Solutions

This involves meeting with you to discuss the findings of step 3 and to present the different options available to best satisfy your objectives.

Step 5: Implementation

On deciding on which route to take we will now implement the solutions agreed on.

Step 6: Reviewing and Monitoring

Once these solutions are in place we actively monitor their progress and are in a position to be pro-active when life happens.

Leave us your name and email address and we will contact you to give a free risk assessment test.