Industry Insight: The Four Factors to Reach Your Financial Goals

CENTRAL DISTRICT, Hong Kong - Oct. 31, 2016 - PRLog -- Simon states, "These factors are crucial in helping you construct a solid plan and maximize your returns. Wealth Alliance's experience tells us that developing a complete retirement plan is not easy at the best of times and this is why it is essential that you have a strategy."

"Anyone who has been involved in business will know that the world of commerce has been guided by the SWOT analysis in order to appraise potential opportunities, ideas and ventures. It stands for Strengths, Weaknesses, Opportunities and Threats, and for years through application directors have actioned decisions that have shaped directions of companies globally."

"At Wealth Alliance, we apply a similar model to manage our client's finances; although we have amended the traditional SWOT analysis since it does not reflect the specific goals of financial planning. Through application of our revised SWOT analysis, we work alongside our clients to generate a complete picture of their past, present and future finances."

·         - State of the Market

·        -  Wealth

·        -  Objectives

·        - Trajectory

State of the Market

"By knowing the investment environment that you are stepping into allow you to maximize your future returns. This discussion that our wealth managers have with our clients is three-tense; past, present and future. As an example previous trends generally predict where the market is going. By being aware of where you are in the market cycle provides a good indication of how long conditions will remain stable."

"As an example, in light of the current interest rate environment, you may be thinking how are gilt edged bonds being affected and if it is the case that bonds are going nowhere then what is a suitable replacement? Our average client is likely to be unclear in regards to be able to answer this question, however with the assistance of their wealth advisor they have the clear market edge due to the fact that we have a proven track record of guiding our clientele through both bear and bull markets since 2006."

Wealth

"There is not getting away from it wealth is a foundational issue, the distribution and value of your assets plays a critical role in establishing where you put those assets. By road mapping your assets, your wealth advisor at Wealth Alliance essentially generates a status report on your situation and it acts as one of the biggest indicators of your tolerance to risk. As an example our HNW's (High Net-Worth) clients can afford to take more chances in what and where they invest. However we are not saying our clients with less liquidity are not willing to take risk, it is our job to assist you in fully understanding exactly what the levels of risk are in relation to your overall financial picture. In order to establish where you want to be it is our job to help your ascertain where you are now.

Objectives

"In order to develop a retirement plan that takes you from today to decades down the road, we will provide you with targets that need to be achieved and these are so much more than numbers; we look to address not just your financial goals but also your life goals. What we tend to find is that most individuals have never conversed with a wealth advisor regarding their personal objectives. This always comes as a surprise since these types of objectives often come with a fiscal cost i.e. When do you want to retire? University Tuition Fees for your Children? That holiday home in Italy? These factors are like finger prints, completely different from person to person."

Trajectory

"A crucial factor in your financial future is your career path. In order to make the very best decisions regarding your finances, it is important to understand the outline that your career will take and this is centered on what work you are involved in. As an example, while they may have comparable incomes, a solicitor who starts his own practice has a wildly different trajectory than a corporate solicitor who intends to stay with their current company indefinitely. Our extensive experience tells us that a career path is not straight, it is bumpy with twists and turns and through mapping out your career path at initial stages with your wealth advisor often helps smooth out imperfections that can become barriers to entering retirement."

"How do we do this you may ask? The answer is simple we take advantage of having worked with multiples of clients in comparable professions over combined centuries, this give us an insight into your potential and the most likely outcomes."

In Summary

"Through discussing your SWOT with your wealth advisor, it ensures that you are both on the same page giving you the best possible shot at the final target; a safe, secure and enjoyable retirement. It is important to note that this is not a one-time analysis, at Wealth Alliance it is checked and rechecked, evaluated and critiqued. You can be safe in the knowledge that it is continuously tracked and benchmarked against performance to ensure that your wealth advisor is effectively addressing any changes in your personal circumstances and situation."

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