Providend’s Services
Our Financial Planning Philosophy
At Providend, proper financial planning is our foremost priority for our clients. Financial planning involves first understanding our financial situation, needs and objectives, after which we secure our financial health before finally determining how much we should invest and at what risk level. We fervently believe that comprehensive financial planning must first be completed before putting money into investment. This is because it is the best way we can evaluate our need, ability and willingness to take risk, so that we may invest at a suitable level of risk that will still be able to achieve our financial goals.
For many investors, their objective is to always maximize returns by timing the market. However, if we become too preoccupied with maximizing returns, we may not be able to cope with the uncertainty and risk negatively affecting our health, personal relationships and careers. Making money is but a means to achieving our life goals, surely we should not focus on the former to the point that we lose sight of the latter? And even if we do reach our financial goal, will it be worth the compromises we had to make in the other aspects of our lives?
In life, having the spirit of contentment is the key to happiness. However, this does not equate to resigning to our current circumstances. Rather, it entails realistically prioritizing our various wants in life, and then striving towards those that are most important to us, while accepting that we can’t have them all. Contentment is the eventual achievement of congruence between what we desire and what we have. It is a state in which we enjoy and appreciate what we have and no longer crave anything that we don’t already have.
This is why our financial planning philosophy is centred around the concept of sufficiency. Through the financial planning process we determine the attainable goals that you most want to achieve and plan towards them. We also advocate investing for sufficient returns to realise your financial objectives rather than maximizing returns and take unnecessary risk. Ultimately, our duty is to craft you a holistic financial plan that will help you fulfill those goals that are dear to your heart, without having to invest at a level of volatility that will overwhelm you.