It’s a fact that the majority of people have no idea where they are heading financially. They may have assets, investments and high levels of income but no clear picture of what it all means or what sort of financial future they are building for themselves.
Financial Life Planning is a process we have designed to actively manage your affairs, bringing together all aspects of your personal finances, from savings and investments and school fees planning to pensions, life assurance, mortgages and tax and estate planning.
Underpinning this is a lifetime forecast that graphically illustrates your financial roadmap. It will highlight both opportunities and threats, and perhaps for the first time, you will clearly see not only whether your goals and objectives are achievable, but also whether they can be maintained in the future.
“How much should I save today?”,
“Will I have enough?”,
“Can I retire early?”,
“Can I afford to help with education fees?”,
“Can I reduce the Inheritance Tax burden for my family?”,
“Am I taking too much, or not enough investment risk?”
“What happens if I do, or don’t, take action?”
We establish your life goals – We seek to understand you, your personal circumstances, and your aspirations. What do you want out of life, what you do want for your family?
We gather data – We collect and assess all relevant personal and financial data (including income and expenditure) and establish your attitude to investment and other risks.
We analyse the data – We clarify your current position and how you have arrived there and construct a lifetime cash flow model to determine any gaps between your stated goals and reality. After the data is analysed we research the whole of the market on your behalf before recommendations are proposed.
We prepare a personal report and recommendations – This involves creating a roadmap which sets out how your current situation as well as new and different strategies can be used to get where you want to be.
We implement the plan – Without the implementation stage, there is no action, and dreams or achievement of goals will not be realised.
We review the plan – This is the final stage. We regularly review the plan and make modifications where required. Reviews should take place at least annually, (but can be more frequent if required) and should consider changes in personal circumstances as well as legislation and the main assumptions.