Financial Planning Process

Financial Planning Process

Financial planning is a very personal matter. No two people have identical circumstances, ambitions and needs. Needs often change over time and everyone’s financial situation is different. The financial plan we produce for you is unique and individually tailored to suit your particular needs.

How do we develop a financial plan specifically for you?

We follow a financial planning process which has been carefully designed with six important steps. We make sure that you know exactly what is happening at every stage as the process develops.

1. Identify your needs and objectives

As a first step we will arrange an introductory meeting. Your adviser will explain fully how the service works, discuss your primary financial needs and objectives and answer your initial questions. By hearing how we work with our clients you will have the opportunity to make sure that our service will be of value to you.

2. Gather information

If it is agreed that you could benefit from our service, your adviser will go into much greater detail with you, looking at your objectives and developing them into well defined goals. At the same time your adviser will gather detailed financial information to give a comprehensive picture of your finances and commitments.

3. Prepare an analysis

Once these details have been agreed with you, the information is used to complete a personal financial plan. This written report performs complex analyses on your current financial position and identifies any areas where it is felt your existing financial arrangements could be more effective or where you have no plans in place to achieve your stated objectives.

4. Develop a plan of action

Once we have a full understanding of your circumstances and priorities we construct your financial plan. This report set out specific and realistic recommendations designed to achieve your stated objectives, both in the short and longer terms.

5. Implement your plan

The next step is for your adviser to present you with your own plan. At this meeting each recommendation will be carefully explained and all your questions answered. It will then be your decision whether to implement the recommendations in full or part. Attainment of your goals will only arise from positive action and your own desire to make this happen.

6. Monitor your progress

Your Asset and Lifestyle Management programme is regularly reviewed by your adviser. We make sure your plan is working towards achieving its objectives. Each review also takes account of any changes in your personal circumstances, financial market conditions and relevant legislation.

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