The Financial Planning Institute of Southern Africa (FPI) lists 6 steps as part of the financial planning process:

Establishing and defining a professional relationship

The initial contact is dedicated to establishing a clear understanding of your immediate needs and/or concerns as well as getting a firm grasp of what services the financial planner provides.

Gathering data, including goals

Having clear goals and providing accurate financial information is key in ensuring a meaningful financial plan. You and your financial planner should mutually define your personal and financial goals, understand your timeframe for results and discuss how you feel about risk.

Analysing and evaluating your financial status

With clear goals set and your financial information at hand, a financial planner is able to “draw a line in the sand” and establish where you are in relation to your goals. Depending on what services you have asked for, this could include analysing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.

Developing and presenting financial planning recommendations and/or alternatives

Once your financial information has been analysed, the financial planner will guide you through the various financial decisions available and make recommendations accordingly. The outcome of the plan is to ensure that you have a plan to take you forward with confidence and provide certainty regarding your financial future.

Implementing the financial planning recommendations

Both you and the financial planner should agree on how the recommendations will be carried out. Your financial planner may carry out the recommendations or serve as your “coach,” coordinating the whole process with you and other professionals such as attorneys or stockbrokers.

Monitoring the financial planning recommendations

You and your financial planner should agree on who will monitor your progress towards your goals. It is important that your plan and any financial solutions that were implemented are reviewed on at least an annual basis. This is done to ensure that your plan remains relevant and meaningful considering any changes concerning your personal or financial circumstances.

The Springpoint Finance Advantage

Springpoint Finance (FSP No. 43870) is a national independent brokerage, specialising in tailormade long-term insurance and wealth management.

Our unique value proposition gives our financial planners unique insight into your current financial portfolio, which means we already have head start on steps 2 (gathering data) and 3 (analysing and evaluating your financial status) of the financial planning process before establishing and defining a professional relationship (step 1) or making any recommendations (step 4).

We are able to do this thanks to Verifi, our online tool that provides you with an immediate and up-to-date overview of all your life insurance and investment policies. It does this by sourcing information from all the major life insurance companies – including Old Mutual, Sanlam, Liberty and others. The data is then presented in a FREE comprehensive report.

Should recipients of this report wish to receive any further financial planning or advice, our financial planners at Springpoint Finance will be in contact with a head start on your existing financial portfolio, ensuring we stay true to our promise of being:


Learn more by visiting Verifi in Afrikaans or English.

Also be sure to like and follow Springpoint Finance and Verifi on Facebook for regular updates and latest news.


The information contained in this article is of a general nature and intended as a guide only. It is neither to be construed as financial advice nor to be regarded as a definitive analysis of any financial, legal or other issue. We recommend you consult a financial planner/advisor to take into account your particular investment objectives, financial situation and individual needs.