The Role and Limitations of States Benefits

882 Words4 Pages
This report mainly focuses on how to assess purpose, scope features and functions of financial protection products, including the role and limitation of state benefits. This report will analyse the clients aims and objectives of retirement planning including relevant investment issues and risk profile by conducting a fact find. Considering the client’s data by illustrating the financial plan and recommending the most suitable plan after monitoring the client circumstances through expanding their aims and objectives. Furthermore it will look at various parts including tax, legal framework of pension schemes.

Fact Find:

In order to advice a client it is important to construct a fact find to help guide a client money situation and its future plans. The financial adviser needs to gather customer’s information to make sure that they obtain enough information for protections, aims, constraints and tolerances for investment. The client needs to ask about their personal details (consumer profile), employment status, relationships, financial position, public and private benefits, insurances and entitlements (e.g. pensions), immediate needs and short and long-term goals. This is done to ensure all advice are affordable suitable and understandable. It is very important to know customer’s objectives, attitudes, attitudes and views through the fact find process as shown on table 1. However they are twelve vital areas that a financial adviser must need to consider and establish as
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