Traditional Chartered Accountant s Activities. Certified Financial Planner s Activities

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2 Traditional Chartered Accountant s Activities Certified Financial Planner s Activities CA + CFP, whether beneficial? 1. For his Personal Financial Planning 2. For his Clients Financial Planning CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified,

3 CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified, Taxation - A CA is considered to be an expert in the areas of taxation, both personal as well as corporate. He can help you plan your taxes well. He is well versed with the latest tax laws. Auditing - If you have a business/company, CA can perform an audit on the accounts and certify the same. He is authorized to do so. Accounting - CA is brilliant with accounting concepts, accounting standards, making balance sheets, reading the financials of a company, etc.

4 Business Consultant - A CA can comment about your day-to-day business activities as well as help you to take long term decisions and help you to grow your business rapidly. CA can also be useful in identifying big opportunities and preparin strategies that will help his client to stay ahead. For e.g. 1. Are you depreciating all the right assets in the most productive way? 2. Is your business structure good for you now and in the long run? 3. How does the fine print in the most recent changes to tax laws affect you, and are there any opportunities therein? CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified,

5 Insurance Planning - A Financial Planner can help you with your insurance needs. He would be able to calculate how much insurance you actually need and what type of insurance plan is the best for the said purpose. Retirement Planning - A CFP can calculate how much of a corpus you would need at the time of retirement so that it would suffice for the rest of your life. He would also tell you how much you need to invest monthly from now to achieve this. Investment Planning - He can suggest you a suitable portfolio depending on your risk appetite, goals, etc. He also has good knowledge on the investment products available and their past returns. Contd CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified,

6 CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified, Tax Planning - He will not just minimize tax for the year but would help you plan your taxes in advance. He will suggest you products depending on your tax status. Estate Planning - He will make sure you have an estate plan in place so that any event would not disturb your future goals. Budgeting and Cash Flow - He will encourage you to prepare a budgeting sheet so that you can track your income and expenses. He will also check your cash flow from time to time and offer suggestions accordingly. Contd..

7 Financial Planning - He can prepare a financial plan by integrating all the above concepts. He can also help you track your past and present investments. He would review your portfolio every 6 months - 1 year or whenever there is a major event such as marriage, birth of child, divorce, etc. CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified,

8 CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified, For His Personal Financial Planning :- Yes, because He will be able to do his own budgeting He will be able to wisely invest his amount to get optimum return He will be able to plan for his insurance such as life insurance, office insurance, etc He will be able to ensure his retirement income

9 CA Avinash Poddar [B.Com, FCA, MCP, DISA(ICAI), CFP CM, CFE, FIV, PGCCL, ICAI Certified Valuer, ICAI IFRS Certified, For His Clients Financial Planning Yes, because The main benefit is that he doesn t need to find client for their insurance planning. He can start from his client and advise as an CFP. He can manage his client Assets via Assets Allocation. He can help his client about any strategic change of future and can help him to grove more firmly and rapidly. Combination of CA & CFP will become a deadly combination of Tax, Audit, Investment and Insurance Expert.

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