8/3/2019 Guide of Fiduciary Financial Planning Practice - A Fiducilis Pnzgyi Tervezs Szablyai

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Luttenberger Zoltn, Free distribution of the original incl. this note, without any amendments permitted. page 1 of2

Guide onFiduciaryFinancial Planning Practice -tmutat a Fiducilis Pnzgyi Tervezsrl

Draft Version Feb 2012 - Munkaverzi

Motto: Acting in theClients best interests-

Pnzgyek az gyfl rdekben.

If your financial advisor did not adress points like these there is quite an odd, that your finances (will) suffer, whatever license or certification or referral your advisor have had or promises made.

Ha tancsadja ezeket a tmkat nem tisztzta, akkor j esllyel baj lesz a pnzgyeiben, brmilyen engedlyre vagy minstsre vagy referencira hivatkozik s brmit is gr(t).

1. GENERAL Planninga. Being clear aboutfinancial planningand theplanning processb. Having a planning agreement (cp.this)c. Being aware of your own expectations and financial capacityd. Having afiduciaryplanner (who does what outlined here)

e. Ask your advisor the rightquestionsf. ...

2. INVESTMENT planninga. Being clear aboutTER Total Expense Ratioand TDC Total delivery cost. E.g. a TER of 0.5% or a TDC of 1.5% is acceptable.b. There should be CLEAR and measurablebenchmarksset for your investments like S&P, MSCI, FTSE, DAX etc.c. Having a(n uptodate)psychometric Risk Profiled. Having an IPSInvestment Policy Statemente. Having made a consciousdecisionabout active versus passive investingf. To avoid investing for tax savings onlyg. To avoid investments you dont really understandh. ...

3. INSURANCE Plannin g

a. Havingproper disability and accident insurancecoverageb. Having proper Credit and Term Life coveragec. Having a proper Personal Liability and Legal Cost coveraged. Distinguishingbetween Insurance and Investment

http://www.thefiduciaryinstitute.org/http://www.thefiduciaryinstitute.org/http://www.thefiduciaryinstitute.org/http://www.fpanet.org/AboutFPA/StandardofCare/http://www.fpanet.org/AboutFPA/StandardofCare/http://www.fpanet.org/AboutFPA/StandardofCare/http://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://www.cfp.net/learn/knowledgebase.asp?id=2http://www.cfp.net/learn/knowledgebase.asp?id=2http://www.cfp.net/learn/knowledgebase.asp?id=2http://www.kmiplanning.com/resources/FINANCIAL_PLANNING_AGREEMENT_09.pdfhttp://www.kmiplanning.com/resources/FINANCIAL_PLANNING_AGREEMENT_09.pdfhttp://www.kmiplanning.com/resources/FINANCIAL_PLANNING_AGREEMENT_09.pdfhttp://www.thefiduciaryinstitute.org/2013/02/15/what-fiduciaries-should-be-reminded-by-valentines-day/http://www.thefiduciaryinstitute.org/2013/02/15/what-fiduciaries-should-be-reminded-by-valentines-day/http://www.thefiduciaryinstitute.org/2013/02/15/what-fiduciaries-should-be-reminded-by-valentines-day/http://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://www.telegraph.co.uk/finance/personalfinance/investing/7923367/More-than-meets-the-eye-to-fund-charges.htmlhttp://www.telegraph.co.uk/finance/personalfinance/investing/7923367/More-than-meets-the-eye-to-fund-charges.htmlhttp://www.telegraph.co.uk/finance/personalfinance/investing/7923367/More-than-meets-the-eye-to-fund-charges.htmlhttp://books.google.hu/books?id=2KBoU0CD-uAC&pg=PT85&lpg=PT85&dq=benchmark+index+definition&source=bl&ots=8yeNfEr0co&sig=6cixRSzJolz-5566BpvFflJ6mf4&hl=hu&sa=X&ei=u5gvT8XxO4KQ4gSQh6ynDg&ved=0CCYQ6AEwATge#v=onepage&q=benchmark%20index%20definition&f=falsehttp://books.google.hu/books?id=2KBoU0CD-uAC&pg=PT85&lpg=PT85&dq=benchmark+index+definition&source=bl&ots=8yeNfEr0co&sig=6cixRSzJolz-5566BpvFflJ6mf4&hl=hu&sa=X&ei=u5gvT8XxO4KQ4gSQh6ynDg&ved=0CCYQ6AEwATge#v=onepage&q=benchmark%20index%20definition&f=falsehttp://books.google.hu/books?id=2KBoU0CD-uAC&pg=PT85&lpg=PT85&dq=benchmark+index+definition&source=bl&ots=8yeNfEr0co&sig=6cixRSzJolz-5566BpvFflJ6mf4&hl=hu&sa=X&ei=u5gvT8XxO4KQ4gSQh6ynDg&ved=0CCYQ6AEwATge#v=onepage&q=benchmark%20index%20definition&f=falsehttp://www.riskprofiling.com/http://www.riskprofiling.com/http://www.riskprofiling.com/http://www.planipedia.org/index.php/IPS:_Investment_Policy_Statement_-_risk_profiling,_asset_allocation_and_mapping_model_portfolioshttp://www.planipedia.org/index.php/IPS:_Investment_Policy_Statement_-_risk_profiling,_asset_allocation_and_mapping_model_portfolioshttp://www.planipedia.org/index.php/IPS:_Investment_Policy_Statement_-_risk_profiling,_asset_allocation_and_mapping_model_portfolioshttp://www.portfoliosolutions.com/strategy.htmlhttp://www.portfoliosolutions.com/strategy.htmlhttp://www.portfoliosolutions.com/strategy.htmlhttp://www.luttenberger.info/planning/elettervezes---life-planning-and-coachinghttp://www.luttenberger.info/planning/elettervezes---life-planning-and-coachinghttp://www.luttenberger.info/planning/elettervezes---life-planning-and-coachinghttp://www.peterkatt.com/articles/AAII_may2009.htmlhttp://www.peterkatt.com/articles/AAII_may2009.htmlhttp://www.peterkatt.com/articles/AAII_may2009.htmlhttp://www.luttenberger.info/planning/elettervezes---life-planning-and-coachinghttp://www.portfoliosolutions.com/strategy.htmlhttp://www.planipedia.org/index.php/IPS:_Investment_Policy_Statement_-_risk_profiling,_asset_allocation_and_mapping_model_portfolioshttp://www.riskprofiling.com/http://books.google.hu/books?id=2KBoU0CD-uAC&pg=PT85&lpg=PT85&dq=benchmark+index+definition&source=bl&ots=8yeNfEr0co&sig=6cixRSzJolz-5566BpvFflJ6mf4&hl=hu&sa=X&ei=u5gvT8XxO4KQ4gSQh6ynDg&ved=0CCYQ6AEwATge#v=onepage&q=benchmark%20index%20definition&f=falsehttp://www.telegraph.co.uk/finance/personalfinance/investing/7923367/More-than-meets-the-eye-to-fund-charges.htmlhttp://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://www.thefiduciaryinstitute.org/2013/02/15/what-fiduciaries-should-be-reminded-by-valentines-day/http://www.kmiplanning.com/resources/FINANCIAL_PLANNING_AGREEMENT_09.pdfhttp://www.cfp.net/learn/knowledgebase.asp?id=2http://blog.fpaforfinancialplanning.org/2011/06/01/choosing-a-financial-adviser/http://www.fpanet.org/AboutFPA/StandardofCare/http://www.thefiduciaryinstitute.org/

8/3/2019 Guide of Fiduciary Financial Planning Practice - A Fiducilis Pnzgyi Tervezs Szablyai

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Luttenberger Zoltn, Free distribution of the original incl. this note, without any amendments permitted. page 2 of2

e. Having a proper Health Insurance (rider) and your European Health InsuranceCardif travellingf. Having an Insurance Risk profile and Risk Management Plan connected to your Cash Flow and Asset-Liability Statementg. ...

4. RETIREMENT planni ng

a. Being clear about yourexpectationsandcapacities(again)b. Having a dedicated Retirement portfolio in your IPSc. Having a Cash Flow based Retirement Plan connected to your Insurance and Estate etc. planningd. Understanding MRTModern Retirement Theorye. ...

5. ESTATE Plannin ga. Will(s) checked by a competent lawyer.b. Your will checked against your financial plan and discussed with your familyc. ...

6. TAXPlanning

a. Having your financial plan checked by a Tax expert. Mindinternationaltaxation.b. Having options in your plan for the case tax rules change.c. ...

7. EMERGENCY p lanninga. Having a plan for a natural disaster, a total loss of your home or a longer periode or unemploymentb. Having a plan for Critical Illnesses of you or your loved onesc. Having aplan for recovering from identity theftd. ...

8.

Would you like to know more? http://www.thefiduciaryinstitute.org/ www.fpanet.org/ http://mptsz.org/professional_contents.html

http://ec.europa.eu/social/main.jsp?catId=559http://ec.europa.eu/social/main.jsp?catId=559http://ec.europa.eu/social/main.jsp?catId=559http://www.fa-mag.com/component/content/article/9428.html?issue=183&magazineID=1&Itemid=73http://www.fa-mag.com/component/content/article/9428.html?issue=183&magazineID=1&Itemid=73http://www.fa-mag.com/component/content/article/9428.html?issue=183&magazineID=1&Itemid=73http://www.morningstar.com/Cover/videoCenter.aspx?id=450477http://www.morningstar.com/Cover/videoCenter.aspx?id=450477http://www.morningstar.com/Cover/videoCenter.aspx?id=450477http://www.fpanet.org/docs/assets/12DF5C10-1D09-67A1-ACF16C03722738D5/2009Retirement.pdfhttp://www.fpanet.org/docs/assets/12DF5C10-1D09-67A1-ACF16C03722738D5/2009Retirement.pdfhttp://www.fpanet.org/docs/assets/12DF5C10-1D09-67A1-ACF16C03722738D5/2009Retirement.pdfhttp://www.oecd.org/ctp/http://www.oecd.org/ctp/http://www.oecd.org/ctp/http://www.privacyguard.com/content/identity-theft-insurance.htmlhttp://www.privacyguard.com/content/identity-theft-insurance.htmlhttp://www.privacyguard.com/content/identity-theft-insurance.htmlhttp://www.thefiduciaryinstitute.org/http://www.thefiduciaryinstitute.org/https://www.fpanet.org/https://www.fpanet.org/http://mptsz.org/professional_contents.htmlhttp://mptsz.org/professional_contents.htmlhttp://mptsz.org/professional_contents.htmlhttps://www.fpanet.org/http://www.thefiduciaryinstitute.org/http://www.privacyguard.com/content/identity-theft-insurance.htmlhttp://www.oecd.org/ctp/http://www.fpanet.org/docs/assets/12DF5C10-1D09-67A1-ACF16C03722738D5/2009Retirement.pdfhttp://www.morningstar.com/Cover/videoCenter.aspx?id=450477http://www.fa-mag.com/component/content/article/9428.html?issue=183&magazineID=1&Itemid=73http://ec.europa.eu/social/main.jsp?catId=559