The people have financial needs, want to make plans in this field, and sometimes they have recourse to solutions of the experts. There are financial planners, who are professionals, and they make/prepare financial plans for people. These plans can consist of cash flow management, retirement planning, investment planning, but there are much more management types. The clients have a lot of financial needs and different goals and the planning have to cover all of these.
The planning scope most times include investment and planning issues, risk management and insurance-, retirement-, estate- and tax planning. There are regulation types in the world; it can be different from a country to another, there are states where there is self-regulation. For example, in Australia and Malaysia the regulation is a little bit different compared to the other countries. The financial planners’ work needs a process, and this consists in some steps like setting goals, gathering relevant information on the client, analyzing the information, constructing a financial plan among the others.