APROJECT REPORTONSTUDY OF INDIVIDUAL FINANCIAL PLANNINGA detailed study done in RELIANCE MONEYSubmitted in partial fulfillment of the requirement for the award of Post Graduate Diploma in Business Management under Bharati Vidyapeeths Institute of Management & Information TechnologySubmitted bySWAPNIL JADHAVROLL NO: 45BATCH: 2008-2010Under the guidance ofDR. GOVIND SHINDEBharati Vidyapeeths Institute of Management & Information TechnologySector 8, CBD-Belapur, Navi Mumbai 400614ACKNOWLEDGEMENTWith regard to my Project, I would like to thank each and every one who offered help, guideline and support whenever required.First and foremost I would like to express my deepest gratitude to MR. AMIT NALAWADE, Centre Manager, Household, Reliance Money for his valuable time and advice in the making of this project. Without his support and guidance, the completion of this project would not have been possible.The faculty members of B.V.I.M.I.T. who provided me with valuable insights into the completion of this project. Especially, my mentor DR. GOVIND SHINDE, who extended his guidance and support for bringing out this report in the best possible way.I thank my institute, B.V.I.M.I.T., for providing me a platform to work with the leading business house in India. I also want to thank my batch mates who have helped me in getting acquainted with various aspects during the project.Finally, not forgetting the staff of Reliance Money, I thank them all, for providing me with all the information required and co-operating in every possible way that they could.SWAPNIL JADHAViEXECUTIVE SUMMARYFinancial planning is the process of assessing financial goals of individual, taking an inventory of the money and other assets which the person have, determine life goals and then take necessary steps to achieve goals in the stipulated period. It is a method of quantifying a persons requirement in terms of money.It was a great opportunity to work with ADA Group, Indias leading business group. Reliance Money a subsidiary of Reliance Capital is among top financial companies. We will get to know the organisational structure and various business models of the company. The business of Reliance Money can be broadly classified as Trading, Distribution and OTC Service.Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises. Financial Planning is one such advisory service, which is yet to get recognition from investors. Although financial planning is not a new concept, it just needs to be conducted in organized manner. Today we avail this service from Insurance agent, Mutual fund agents, Tax consultant, Equity Brokers, Chartered Accountants, etc. Different agents provide different services and product oriented. Financial Planner on other hand is a service provider which enables an individual to select proper product mix for achieving their goals.The major things to be considered in financial planning are time horizon to achieve life goals, identify risk tolerance of client, their liquidity need, the inflation which would eat up living and decrease standard of living and the need for growth or income. Keeping all this in mind financial planning is done with six step process. This are self assessment of client, identify personal goals and financial goals and objective, identify financial problems and opportunities, determining recommendations and alternative solutions, implementation of appropriate strategy to achieve goals and review and update plan periodically.A good financial plan includes Contingency planning, Risk Planning (insurance), Tax Planning, Retirement Planning and Investment and Saving option.Contingency planning is the basic of financial planning and also the most ignored. Contingency planning is to be prepared for major unforeseen event if it occurs. These events can be illness, injury in family, loss of regular pay due to loss of job. Such events are not certain but may have financial hardship if they occur. Thus a person should have enough money in liquid form to cover this risk.iiThank you for evaluating BCL easyConverter DesktopThis Word document was converted from PDF with an evaluation version of BCL easyConverter Desktop software that only converts the first 3 pages of your PDF.Activate your software for less than $20http://www.pdfonline.com/easyconverter/Activate your software for less than $20CTRL+ Click on the link below to purchase