We offer full pledge financial services to assist you and your financial needs. If you would like us to help you thoroughly you need to be committed to yourself and complete a financial needs analysis (FNA). Don’t worry FNA is very simple and we have made it less time consuming!

What is Financial Needs Analysis (FNA)?

A qualified financial planner carries out an analysis to ascertain the current state of your finances and your future financial needs. Additionally, it creates a physical imprint of your entire existing financial portfolio. And assessment of your current and future debts and\or financial responsibilities.

For example, 20 years ago, a salesman would have been able to sell you a life insurance policy without any idea of what your expenses were or how many other life insurance policies you already had. He would walk away with a hefty commission and you would be none the wiser! Zoom forward 20 years to the present and the financial services industry has changed dramatically.

We incorporate the following factors into our financial needs analysis:

  • Your income and expenses or your budget.
  • Your current assets and liabilities – this would include assets such as property and liabilities such as your debts.
  • A list of all the current financial products you own such as life insurance policies, funeral policies and investments.
  • Your current and future financial needs depending on your life stage. For example, your marital status and whether you have dependents or not.
  • Employment benefits you enjoy, such as group life assurance and medical aid benefits.

Once we have all the above information, we will make recommendations about your investments and long-term insurance needs including:

  • Saving for your children’s education
  • How much money you need to save for retirement so that you don’t have to dramatically change your lifestyle when you stop working.
  • Your ability to earn an income is your greatest asset. You need to have income protection insurance so that you are financially covered if you get retrenched.
  • Dread disease coverage – if you have health issues and end up with, for example, cancer, the medical costs are incredibly high and are often not covered fully by your medical aid.
  • Disability insurance – if you sustain an injury, for example a rock-climbing accident results in you losing the use of your legs, then disability insurance covers costs such as renovations to your home to accommodate a wheelchair, the cost of a wheelchair and physiotherapy in the long term. If you are unable to work your policy will also replace all or part of your income. Note that you will need to be aware that disability policies are either sold with a lump sum amount or an income component.