Lifetime Financial Planning

Financial Planning, rather than Financial Advice, is what I am interested in – and the difference between the two is old an argument that’s be talked about for years.

Everyone understands, or at least thinks they understand, Financial Advice.

This is about having a problem. You call an adviser because you have established that something isn’t working and you just need it fixing, rather like you would call a Plumber if you had a leak in the bathroom.

You may have some money to invest – need an ISA, or need to buy an annuity, or want to check your pension funds. The problem is clear and a solution is required, which may or may not be complex.

So what about Financial Planning?

Firstly, it’s not just money, it’s more than that.  It’s about delving deeper into your dreams, goals and worries, and requires a great amount of trust and honesty on both sides.

It’s not just about a quick fix / quick solution or a one-off exercise. It’s a long-term commitment from both you and your financial planner to really get to grips with what you want from life and how you are going to get there.

It should be a complete view of all aspects of your life, without product selling.

Here’s some questions I like to ask new clients:

  1. What are your specific goals for the future (lifestyle and financial/short term/longer term)
  2. What might prevent you from achieving your goals?
  3. When you have achieved your goals – what will you do then?
  4. To whom do you wish to leave your wealth when you die?
  5. If you only had 6 months left to live, what would you do differently?
  6. What would you like your obituary to say?

True Financial Planning will help you to establish what you want in the future and what you need to do to achieve this lifestyle. This should give you the freedom, independence and clarity you need to know that you can achieve your objectives and goals.

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