Industry Trend - Financial Planning

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Memorandum TO: ---------------- FROM: Gary Lung DATE: October 31, 2012 SUBJECT: MEMO of TRANSMITTAL As requested, please find the report on trends in the financial planning industry. I compiled this report using information provided by Rocky Law, a primary source, and several secondary sources. UWP 104A Industry Trend Report – Financial Planning By Gary Lung Contents Executive Summary ……………………………………………………………………………………….….…………….. 3 Introduction ……………………………………………….………………….………………………………………………… 4 What is Financial Planning? …………………………………………………………………….………………….. 5-14 1.1 Emergence of financial planners ……..……..……..……..……..……..……..……..……..……………...……..….… 5 1.2 Targets of contemporary financial planning …..……..……..……...…….……..……..……..………..……..… 6-7 1.3 Needs of financial planning at different stages of life ..……..…….. .…………..……..…….…..……....… 8-9 1.4 Financial planning pyramid ……..……..……..……..……..……...……...…….…………….……………....……..….. 10 1.5 Scope of financial planning ……..……..……..……..……..……..……..….…………….…...……..…..….…….. 10-12 1.6 Steps in financial planning ……..……..……..……..……..……..……..……...……..……..….…..…….……….. 12-13 1.7 Income sources of a financial planner ……..……..……..……..……..……..……..……...……………………….. 14 1.8 Affiliation of financial planners with banks and insurance companies ……………………..…………… 14 Current Trends …………………………………………………………………………………………..……………… 15-25 2.1 Current driving factors …………………………………………………………………………………………………… 15-23 2.1.1 Growth of global population with aging ……………………………………………………………..…………… 15-20 2.1.1.1 Rapid growth of global population ……………………………………………………………..……… 15-16 2.1.1.2 Aging population ………………………………………………………………………………………..……… 17-20 2.1.2 Positive wealth effect from Quantitative Easing ………………………………………………...…………… 21-23 2.2 Prevailing observable trends

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