Do you have financial goals in mind? Are you looking to plan for the retirement you have always dreamt of? To protect your estate so that your loved ones are taken care of when the time comes? If so, you are likely to benefit from using the services of a financial planner. If you have been wondering, why use a financial planner, then read on to learn how you could benefit from what has to be considered a worthwhile investment.
What is a financial planner?
Everyone has at least one major life goal, if not multiple aspirations. Many parents for example aspire to be able to fund their children’s higher education, or help them get on the property ladder. Some dream of paying for their daughter’s wedding, or buying their son his first car.
Perhaps you have particular ideas in mind as to how you wish to spend your retirement, or you want to make plans to slow down and strike a better work life balance. You may wish to travel, to purchase a boat or a motorhome, to buy yourself a bolthole in the sun or a sports car. Maybe it is the case that you don’t want to wait until you have partially or fully retired to realise these dreams!
Some people have goals that are more focused on ensuring that their loved ones are well cared for once they’ve gone, for example making sure the family home is preserved, and that Inheritance Tax doesn’t wipe out most of their legacy.
All of these goals and more can be potentially realised with the help of a financial planner.
The job of a financial planner involves setting out a financial roadmap designed to get you on course to reach your objectives. Once you start working with a financial planner, you will find that having got to really know you and your family situation, they will understand precisely where you wish to head, and will be able to formulate a plan that will get you there.
What are the benefits of using a financial planner?
Working with a financial planner will give you confidence and clarity regarding your finances. You will feel more in control of your future, as though you are steering it rather than it steering you.
Your financial plan will involve a personalised strategy that will be regularly reviewed to ensure it remains on track. This could encompass a range of tactics, from investment, tax, pension and estate planning to cash flow management, budgeting and organising savings. It may also involve business-related elements, such as an exit strategy or the sale of a business.
When you work with a financial planner on an ongoing basis, you will have that valuable reassurance that your finances are supporting your goals. Without this level of professional help, it would be impossible to plan for the future, or to know how to get the most out of what you have.
Financial planners can also save you money. By putting strategies in place to better manage tax and savings, and to mitigate the amount of Inheritance Tax payable on your estate or Capital Gains Tax payable on the sale of an asset, you have everything to gain in a financial sense.
Aren’t financial planners just for wealthy people?
Anyone with a desire to get ahead and realise a set of goals will benefit from using a financial planner.
Whilst a wealth manager is more likely to work with high net worth individuals, a financial planner tends to be favoured by those who simply need professional direction when it comes to making the most of what they have.
Of course, your goals will need to be realistic in terms of your individual circumstances, and a financial planner will not hesitate to give you honest advice in this respect. But if you have a regular income or you run a business, you have a lump sum or inheritance to invest, or savings or a pension plan that could be better managed, then you could well find the services of a financial planner highly advantageous when it comes to achieving your aspirations.
Partridge Muir & Warren, the Financial Planners Surrey People Trust to Achieve Their Goals
Award-winning Partridge Muir & Warren has been taking care of the financial planning needs of the people of Surrey for more than 50 years. As chartered financial planners, we have achieved the gold standard in the UK financial planning industry, and our in-house team of experts are at your service to help you realise your financial goals.
To learn more about how we can assist you, please get in touch.