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Family financial planning questionnaire

family financial planning questionnaire

Ready to dig deep into your clients' financial needs? The Family Financial Planning Questionnaire is perfect for financial planners, advisors, and wealth management firms.
With this comprehensive guide, you can navigate the complexities of your clients' financial situations in one go.
It'll help you gather essential data, understand each client's unique situation, and create tailored, effective financial plans. Let's get started!

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Questions to include on your Family financial planning questionnaire

1. Personal Details

To establish a base understanding of the client and their family, you might want to gather some basic personal information.

  • What is the client's full name?
  • What is the client's contact number?
  • What is the client's email address?
  • What is the client's marital status? (Single, Married, Divorced, Widowed)

The contact information can be used for future communications and the marital status gives an idea about potential dependents or other financial responsibilities.

2. Family Information

This information will help you understand the size of the family and potential financial responsibilities related to the family members.

  • How many dependents does the client have?
  • What are the ages of the dependents?

Understanding the number and ages of dependents can provide insight into possible upcoming expenses, such as college education or care for aging family members.

3. Income Information

This information will provide the base for understanding the client's current financial situation and their capacity to save or invest.

  • What is the client's annual income?
  • Does the client have any additional sources of income? If yes, please specify.

Knowing the client's income as well as any additional sources of income can contribute to a comprehensive view of the client's financial circumstances and provide insight into their ability to achieve their financial goals.

4. Expense Information

This information will help you understand the client's current spending habits and identify potential areas for savings.

  • What are the client's monthly expenses?
  • Does the client have any large upcoming expenses? If yes, please explain.

Understanding the client's ongoing expenses, as well as any large anticipated expenditures, can inform the financial planning process and help identify areas where savings might be possible.

5. Investment and Savings Information

This information will help you understand the client's current and future financial plans.

  • Does the client have any existing investments?
  • If yes, please provide details.
  • What is the client's long-term financial goal?
  • What is the client's risk tolerance? (High, Medium, Low)

These questions about investments and financial goals give insight into the client's existing financial plan and risk tolerance, which are crucial for tailoring a financial plan to meet their specific needs and comfort levels.

Other question ideas

When you are creating your Family financial planning questionnaire, here are some additional questions you may want to consider. These won't apply in every case, but should give you some ideas as you build out your form.

  • What is the client's highest level of education?

    This can provide insight into potential income growth and job security, as higher education levels typically correlate with higher income and job stability.

  • Does the client plan on furthering their education?

    If the client is considering further education, this could lead to increased income in the future, but it may also mean upcoming expenditure on education.

  • Is the client expecting any significant life changes in the near future (e.g. retirement, new job, relocation, pregnancy)?

    Significant life changes can greatly affect a person's financial situation and their financial planning needs.

  • Does the client have any hobbies or passions that could affect their financial planning (e.g. travel, collecting, sports)?

    Hobbies and passions could potentially be a drain on finances, but they could also represent an area where the client is more willing to invest money.

  • Does the client expect to support any family members or others in the future (e.g. aging parents, children)?

    Providing financial support to others can significantly affect a person's financial situation and should be factored into financial planning.

  • Is the client interested in socially responsible or ethical investing?

    If a client is interested in socially responsible or ethical investing, this could impact the choices you make when advising on investments.

  • Would the client like to include charitable giving in their financial plan?

    Charitable giving can have tax implications and should be factored into financial planning if it is a priority for the client.

  • Has the client considered their retirement lifestyle and potential associated costs (e.g. travel, healthcare)?

    Retirement lifestyle choices can greatly affect the amount of savings required for retirement. Understanding the client's expectations can help ensure a plan aligns with their goals.

Things to consider

  1. Simplicity and Clarity - The form should be easy to understand and fill out. Avoid using jargon or overly technical terms. Instead, use simple, straightforward language.
  2. Structured Format - Group related questions together in logical sections. This helps the user to navigate the form and it also makes it easier for you to analyze the data later.
  3. Privacy and Security - Be mindful of the sensitive nature of the information you're collecting. Make sure to use secure form builders and reassure users about how their information will be stored and used.
  4. Conditional Logic - Use features like conditional logic to streamline the process. For example, if a user indicates they have no dependents, they shouldn't have to answer questions about dependents.
  5. Progress Indicators - If the form is long, consider using progress indicators. This helps users know how much of the form is left and can motivate them to complete it.
  6. Validation - Implement field validation to ensure you collect accurate and appropriate data. For example, age should be a number, email should be in the correct format, etc.
  7. Mobile-Friendly Design - Many users may find it convenient to fill out your form on their mobile devices, so it's important to ensure your form is mobile-friendly.

How to create your Family financial planning questionnaire

Now that you know what questions you should include, it's time to build your form!

The only problem is that traditional forms tools are inefficient.

People will forget to fill out your form. They'll get stuck halfway and not be able to finish it. Or they'll send you the wrong stuff. You end up wasting hours chasing people down over email. 

That's why you should give Content Snare a try. 

Content Snare is packed with advanced features that will have you hours:

  • Automatic reminders - Remind people to complete their form with fully customizable reminders.
  • Reject incorrect information - If a single question is filled out incorrectly, ask your client to re-do just that one item.
  • Autosaving - No progress gets lost. People can fill out forms in multiple sittings.
  • Comments and questions - If the person filling the form gets stuck, they can ask a question without having to email you.

Give it a go by signing up for your free 14-day trial. 

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