The investor should assess existing obligations, annuities and assets when trying to plan an alternative strategy. So too, a personal wealth manager or financial advisor, needs to clarify the client's risk willingness, salary structure and required returns in order to plan a strategy for wealth creation.

Finding a game plan

Whether you are looking to put together a first-time wealth portfolio, or revising your present personal portfolio, the same principles apply. This is according to Warren Ingram, a Director at Galileo Capital, and 2011 FPI Financial Planner of the year. Ingram advises potential investors that your financial plans should incorporate: your current and planned expenditure, your savings, your assets and your liabilities. These four aspects apply to everyone from a young person who has just started work to someone who is retired. This means that a financial plan also incorporates your planning for retirement.

Read the full article online:

The full article is available in the February/March 2012 Issue of Business Brief and is available in the online magazine. To access this magazine, click here to subscribe

This article has been created with the assistance of the following contributors:

• Allan Gray
• BDO South Africa
• Financial Planning Institute
• Goodman Gallery
• Kanan Wealth
• Old Mutual
• SA Gold Coin Exchange
• Sasfin