Comprehensive case production is actually a required course for every AFP/CFP student. Even the most difficult exam in CFP is comprehensive financial case planning. Of course, in terms of how to make it, including analysis, steps, and calculations, there are actually detailed explanations in the courseware. Every qualified student should be able to make a corresponding case plan based on the courseware. However, knowledge should ultimately be used in practice. Textbook-like models still need to be summarized and utilized by oneself before they can be used in practice. This financial planner competition is also a competition that respects practice. Therefore, in this final stage, each competition area has 3 different case settings, a total of 12 different cases, all carefully designed, which can test the actual level of each participant. If you only follow the textbook It is impossible to meet the requirements if the general model is applied mechanically.

In terms of making financial planning cases, how to avoid copying them like a textbook? In fact, it is very simple. From personal experience, financial planners must follow four steps to gradually solve the main problems.

Step 1. Family status analysis

It mainly includes three aspects: financial analysis, family situation analysis, and psychological analysis.

Financial analysis is the simplest. Generally, it is necessary to prepare the family's balance sheet, income and expenditure savings statement, and cash flow statement according to the conditions, and summarize the scattered data into these three tables. The financial situation of the family can be easily judged. The main focus here is quantitative analysis. Afterwards, it is necessary to calculate important indicators based on relevant figures and conduct qualitative analysis. For example, by calculating the debt ratio to determine whether the debt is too high, by calculating the free savings rate to determine the balance of payments, by measuring the proportional distribution of various incomes or the proportional distribution of various assets, to determine whether the family financial structure is reasonable. For the financial analysis part, generally those who have studied the AFP course can complete it relatively easily.

Family situation analysis requires a full understanding of the other party’s family situation, especially non-financial factors. For example, the current family life cycle, and the significant changes that will occur to family finances in the future. For example, if you plan to have a child next year, you may need to prepare education funds in advance. If you enter middle age, retirement funds must also be considered.

Psychological analysis requires a strong sense of immersion and relatively strong practical work experience, especially the type of group the customer belongs to and the positioning of their general psychological factors. of certainty. This is most obvious in investment decisions. It can also be seen from the data that some customers invest too conservatively and some customers invest too radically, each with different psychological factors. Then this determines whether the solution you give can convince customers. Including this financial planner competition, there are many cases involving psychological analysis, and even the question given by the teacher is: How are you going to persuade customers. Therefore these aspects must be taken into consideration at the outset.

Step 2. Find and discover financial management goals

This may be the most critical part in the creation of financial management cases. Under normal circumstances, the client’s obvious financial management can be judged from between the lines of the material. Goals, such as home purchase, retirement, children's education, immigration or other special purposes. However, in addition to the known conditions, financial planners also need to analyze the current situation of the family to determine the potential needs of the family, such as whether pensions or education funds need to be prepared in advance, whether the investment structure needs to be adjusted to reduce risks, and whether assets need to be replaced to balance assets. Liability situation, whether cash flow needs to be adjusted, etc. It can be said that the professionalism and experience of a financial planner are reflected in whether they can keenly discover potential problems of customers. Because if the problem cannot be discovered, reasonable analysis, judgment and suggestions cannot be made. Just like a doctor seeing a doctor, if no abnormality is found, the cause of the disease cannot be discovered, resulting in misdiagnosis and wrong medicine.

Step 3. Analyze financial management goals and propose respective solutions

This step is actually a relatively delicate step. It requires analyzing and sorting out various financial management goals and proposing reasonable solutions. There are two points to pay special attention to here:

1. Pay attention to the use of digital calculations. It is necessary to simulate the execution effect of each plan through reasonable assumptions of data and combined with actual figures. For example, based on the investment rate of return, inflation rate assumptions and existing income and expenditure savings or assets and liabilities, it is easy to calculate the property situation several years in the future and judge whether the goal can be achieved.

2. Pay attention to different solution options for long-term and short-term goals, especially emphasizing the principle of earmarked funds to avoid misappropriation. For example, you can divide financial management goals into short-term plans or long-term plans, adopt the principle of earmarked funds, and use existing asset investments or daily savings accumulation to make corresponding choices.

It should also be noted here that for the same financial management goal, there are likely to be 2-3 suitable solutions, which need to be calculated and summarized separately, and can be given through corresponding analysis Reasonable recommendation.

Step 4: Insurance planning, investment planning and cash flow accounting

After completing the above three steps, it is generally necessary to make an appropriate insurance plan based on the family situation and investigate their Corresponding risk points, for example, family members who are the main source of income should be given priority protection by insurance.

It is necessary to calculate the amount of insurance needs of each family member, the type and amount of insurance required, and pay attention to controlling the total premium, which generally cannot exceed 10% of the family's annual income. It is generally recommended that if you have weak premium affordability, take accident + term life insurance. If the premium affordability is high, adopt accident + critical illness. In addition, for occupations prone to accidents, such as taxi drivers, the traffic accident part of the accident insurance should be particularly strengthened.

The investment plan requires a complete adjustment of the investment plan, which mainly includes: 1. The family emergency deposit reserve needs to be established according to the 3-6 month standard; 2. Complete the plan according to each financial management goal, and re- Sort out the arrangement of various funds and the corresponding investment tools, including the types and expected returns of funds, bonds, deposits, trusts, etc.

Two points need to be noted here: First, the expected rate of return must be estimated to be true. If you name one, the expected annual return of investing in stocks is 20%, who can guarantee how to achieve it? Second, it is necessary to choose more investment tools. Consider the psychological factors your customers allow. It is impossible for a very conservative client to accept stocks or futures investments in one day.

Cash flow accounting is the last step. By calculating the overall cash flow of each financial plan, including the investment plan and insurance plan it generates, it is best to give the cash flow changes after the implementation of the overall plan. If the cash flow is insufficient, the plan must be revised from scratch.

For those who participate in similar competitions, here are three tips.

First, see the problem clearly

The cases used in the competition generally have a clear purpose and will not be large and comprehensive. Therefore, the focus in case production should be In answering questions. You must clearly see the teacher's requirements in the questions and focus on them, instead of answering the questions uniformly or turning a blind eye. This financial planner competition has questions of this type. For example, it directly asks you how to persuade customers to adopt your plan. This involves the psychological considerations we mentioned earlier.

Second, highlight the key points and avoid textbook-style tediousness. Third, prepare well in advance, including commonly used calculation templates or professional software.

Take this competition as an example. **Only 4 hours, including your own analysis and on-site production of PPT, etc. Time is tight and there is not so much time for you to calculate each question one by one. Therefore, be fully prepared in advance, especially making your own commonly used EXCEL templates for calculations, or using special financial planner software, which will have the effect of getting twice the result with half the effort. It would be even more perfect if the PPT also has a pre-set template and you only need to change the content.

I hope what I saw on Jinkao.com can help you.