financial planning

Financial Life Planning is your financial road map that will enable you to achieve key goals that are personal to you. The road map starts with the Discovery Meeting where we get to know each other and you get the opportunity to outline your key goals and to prioritise them.

We will gather key financial information from you that will allow us to draw up Cashflow Forecast from your personal balance sheet, i.e. your assets and liabilities, your current and future income and expenditure patterns including expected capital expenditure and potential future investments. The Cashflow Forecast will be based on a series of underlying assumptions which we will agree with you in advance.

Utilising this type of forecasting gives us the ability to illustrate to you how your financial future might look, backed up by detailed, thoroughly analysed, income and expenditure statements. It also allows us to model a number of ‘what if’ scenarios which factor in your Personal Rate of Return (PRR) to show you the likely return that is needed from your investments to achieve your goals.

Once your Cashflow Forecast is agreed we move onto the next stage of actually developing and presenting your Financial Plan to you. Your Financial Plan will cover three main areas:

  • A detailed analysis of your current assets and liabilities and their suitability or otherwise to your needs.
  • Recommendations of any changes required to structure your current arrangements more efficiently. This will include the selection of an appropriate investment portfolio, where possible an improvement of tax efficiency, and a focus on the underlying management and other costs leading to, in most cases, a reduction in costs.
  • Finally, a review of your disaster plan, be it the loss of your job, ill health, death etc.

Finally, living in the real world means that in reality the best thought out plans and assumptions can go awry, which why we recommend our Future Planning Review Meetings so strongly to our clients. This is the final stage in the Financial Life Planning process and these meetings focus on keeping your goals on track. We use these meetings to update your Financial Plan to take account of any legislative changes and more importantly any changes that may have occurred over the previous year in your personal life.