Benefits of financial planning

Without a plan in place:

  • Managing your personal finances does not extend beyond keeping things ticking over (for example looking for better deals on household bills, checking your mortgage deal is still competitive and occasionally monitoring the value of your savings)
  • If you have a partner, finances are rarely discussed beyond covering short term spending requirements
  • You struggle to articulate what you want to do with your money
  • You worry what will happen if you pass away suddenly or experience a serious illness

With a plan in place:

  • You have clear, realistic and achievable goals and know you are working towards them
  • You and your partner are on the same wavelength regarding your personal finances
  • You have a budget in place which sets out how much you need to put aside to reach each of your goals and how much “spare money” you have available
  • As a result, you do not feel guilty about spending on luxuries (as long as it falls within your available “spare money”)
  • Your personal finances are as tax-efficient as possible
  • You know your family are protected if the worst should happen

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Common Questions

Financial planning could be for you if any of the following scenarios apply:

  • You want to plan ahead for your eventual retirement
  • You want to retire soon but don’t know if you can afford to
  • You have a specific goal in mind, such as buying a dream home or helping your family with tuition fees (or other expenses)
  • You want someone to review your finances and make sure you (and your family) are provided for
  • You have gone through a major life change, such as a bereavement or divorce, and you want to ensure you will be financially secure

In its purest form, financial planning involves thinking about you want your money to do for you, both now and in the future, and then putting every penny you earn towards these goals.

On the face of it this might appear simple but, in reality, it involves a careful tightrope walk. For example, if you want to travel as much as possible but you also want to retire early, how do you choose between the two?

This is where we can help. We will take details about your current finances and ask about what you want to achieve, both in the next few years and in the longer term. We will then use our knowledge and expertise, along with specialist software, to create a financial plan for you.

In an ideal world the first plan we create will show that all of your goals are achievable. However, it is common to find that some of your aims need to be scaled back.

If this is the case we will help you establish which of your goals are top priorities and which can be modified. We do this by talking through your options and using “what-if” scenario analysis to show you how making changes can get you closer to your ideal financial future.

Once we have agreed your plan we will put it in place for you. This might involve something simple, such as setting up a monthly savings plan, or it could involve something more complex such as long-term estate planning. In some cases we might also refer you to a specialist in another field, such as an accountant or a solicitor, to ensure your plan is well-rounded and secure.

When your plan is up and running you will have the option of attending regular meetings with your adviser to ensure everything is on track. From time to time we might suggest alterations (for example if tax rules or your circumstances change).

To read more about some topics which might be of interest to you please choose one of the sections below. If you wish to book a free initial meeting with one of our advisers to discuss putting a plan in place, please visit our Contact page.