Financial planning

The approach to financial planning has changed considerably. In the past, private individuals had to consult a specialist for the individual areas of their financial affairs. Tax issues were dealt with by a tax advisor, while legal aspects were discussed with a lawyer or notary. Investments were made directly via a financial service provider or an institution – but often without taking tax matters into account, which often resulted in excessive costs.

A holistic approach is now common when it comes to analyzing your own finances and securing them for the future. This is the only way to cover every aspect of financial planning so that you can face the future with as few worries as possible.

Financial planning: what is it?

By definition, financial planning refers to the analysis, forecasting and control of one’s own financial development. Optimal financial planning is a holistic interplay of:

• Pension planning
• Liquidity planning
• Asset planning
• Tax planning
• Retirement provision
• Inheritance/estate planning
• Succession planning

These are therefore all events that affect a private individual’s income. With Tareno, financial planning is generally designed up to the age of 90. This can of course be individually adapted.

Why is financial planning important?

Good financial planning is the central element of all financial decisions and pension plans. If, for example, an asset overview reveals any gaps in financial planning for retirement, comprehensive financial provision ensures that these are closed in good time.

When it comes to financial planning, holistic life planning is relevant in order to align financial resources with personal wishes and life goals. It provides a guideline for realizing personal goals, serves as a control instrument and identifies gaps in provision at an early stage. So you don’t leave your retirement provision to chance.

FINANCIAL PLANNING AT Tareno

Short-term or long-term financial planning?

A financial plan can be reliably simulated in the medium term. This covers a period of one to four years. In the longer term, financial planning serves as a guide. It is therefore advisable to update the financial plan on an ongoing basis or at least when special events occur.

Not only around the Vested benefits assets you should think about a financial plan. We also recommend financial planning for major events, for example:

• becoming self-employed,
• founding a company
• or the sale of your own company.

On the private side, we recommend financial planning advice from:

• Weddings
• Family planning
• Divorce
• Retirement
• Payment of pension fund and vested benefits assets
• Buying or selling a house
• Inheritance
• Changes to short, medium or long-term goals and wishes

Our advisors not only draw up the financial plan, but also assist with its implementation and provide long-term support as your personal financial partner.

Financial planning objectives

The overarching financial planning goal is to maintain your current lifestyle through comprehensive advice and prudent planning. So that you can prepare for the future with peace of mind and leave a legacy.

Tareno provides independent financial planning without conflicts of interest. Thanks to long-standing employees, customers receive personal support over a long period of time without having to change advisor.

The comprehensive, holistic wealth planning is always tailored to your needs. Wishes and preferences are taken into account. In addition, we do not accept retrocessions as a matter of principle.

Financial planning for private individuals – what are the benefits?

The primary benefit of financial planning is that all financial areas are optimized. Similar to an income statement, it provides an overview of the current and future financial situation.

Other benefits are

• A wealth strategy geared towards short, medium and long-term goals.
• Protection for the family, for example in the form of life insurance or to cover mortgages in the event of a partner’s disability.
• Estate and succession planning, as children often know little about financial planning for their parents’ retirement. Financial planning should begin five to ten years before retirement with the involvement of the family.
• Forecasting so that there are no unwelcome surprises before and especially after retirement

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What are the tasks of financial planning?

Pension planning:

• Financing future plans
• Life and social insurance
• Health care

Liquidity planning:

• Income and expenditure overview
• Determination of surplus or deficit

Asset planning:

• Portfolio development with a focus on income
• Revaluation of real estate
• Valuation of other assets

Tax planning:

• Identification of the tax burden
• Optimization options

Retirement provision:

• AHV pillar – state pension after retirement
• Pillar PK – private pension fund, vested benefits
• Pillar 3a – supplementary private pension provision

Estate planning:

• Inheritance planning
• Will
• Succession planning

Who is financial planning suitable for?

The holistic approach and interdisciplinary expertise of the financial planners at Tareno are of particular benefit to wealthy private individuals. However, financial planning is also recommended for company founders, the self-employed and (small) entrepreneurs.

What does financial planning cost?

The financial planning costs depend on the scope of the advice and the specific needs of the private individual. As a rule, a thorough analysis and advice will reveal savings potential that ideally more than outweighs the costs. More important, however, is the certainty that the financial situation is aligned with relevant events and enables a self-determined and carefree phase of life.

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What is the procedure for financial planning?

The structure of a financial plan is similar to that of a business plan. The status quo is analyzed, the goals are defined together and the time horizon is set. The strategy is then followed by the investment solution and its implementation:

1. analyze the current situation

The analysis begins with the personal situation, i.e. the family and professional situation. This is followed by wishes, goals and a time frame. The financial situation is examined, in particular the asset and pension allocation.

2. determine strategy

The basis for the next step in financial planning, strategy development, is provided by a three-stage model:

1. Liquidity: To cover short-term expenses and security reserves.
2. Income: Financial investment (basic assets) with the aim of generating income and preserving assets.
3. Growth: Related to long-term investments with the aim of generating income and preserving assets.

The risk profile is then drawn up and the investment strategy developed.

3. develop an investment solution

After analyzing and defining the strategy, the investment solution, the heart of financial planning, is developed. This involves determining the optimum combination of investment options and drawing up a strategy. The portfolio allocation is determined and finally put together in a customized manner.

4. customized investment proposal from Tareno

In a personal meeting, we discuss the most promising investment opportunity. This is followed by the prompt implementation of the customized investment solution. Regular monitoring by specialists at Tareno and partner companies is just as much a part of prudent financial planning as updating the financial plan every two to three years.

How is it possible to optimize an existing financial plan?

The procedure is similar to that for drawing up a new financial plan: The analysis of the current situation forms the basis for developing a strategy. In each step, the existing financial plan is critically examined and any potential for optimization is explored and discussed. The third step, the individual investment solution, is compared with the existing financial plan and adjusted accordingly. Regular monitoring by Tareno specialists is also advisable here, as is a debriefing every two to three years.

What are the benefits of financial planning with Tareno?

A strategy based solely on the portfolio, for example, is often not enough these days. In order to approach financial planning for retirement with a clear conscience, it is advisable to involve the children and the partner in good time. Experience shows that offspring are not always fully informed about their parents’ financial situation.

Thanks to our selected external partnerships with tax advisors, trustees, lawyers and specialists, as well as art and foundation experts, we are able to examine our clients’ financial situation independently and holistically. We also involve all family members in the process.

financial planning at tareno

You also have the option of approaching your financial planning in sub-plans. This refers in particular to

• Liquidity planning
• Asset planning
• Tax planning
• Retirement planning

As an award-winning and independent wealth advisor in Switzerland, we provide you with personal and confidential advice. Book a free initial consultation now to secure your financial planning. We provide you with individual, holistic and long-term advice so that you can look forward to retirement with peace of mind.