Page 250 - DMGT515_PERSONAL_FINANCIAL_PLANNING

Unit 13: Strategies of putting together a Complete Financial Plan

Copy of financial plan; Notes
Inward and outward correspondence;
Review reports and file notes; and

A separate file maintained for investment record keeping; this file sees a separate section
for each investment that records all transaction details for the investment.
All files should be codified so as to assist with easy retrieval from the filing facilities in the
office. In this regard, there is a significant range of commercial filing systems and coding
available.

Computer Files

Computer file record keeping begins with a database of person information as follows:

Names, addresses, telephone numbers;
Date(s) of birth; and
Investments (including all of the above investment details).
Additional computer records maintain details of the initial financial calculations/projections as
well as the ongoing portfolio review/management records.
In the office of the vast majority of professional services, written correspondence is prepared on
word processing software. As such, all such correspondence should be maintained on computer
file.
Personal computer systems base record keeping on a ‘directory’ structure. One example of how
to structure a directory for a financial planning practice is as follows:
Figure 13.1: Directory Structure

Under Microsoft Word ®, the ‘path’ of a letter written to persons
Sumit and Sushmita Citizen on June 30,2000 would be as
follows:

i/users/persons/citizen/letter June 30, 2000.doc

Irrespective of how that information is structured, it should facilitate any future FPSB audit.

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