A person will work, save and invest in the hope that they have sufficient income and adequate capital to live the lifestyle they desire and, if necessary, provide for others.

The questions people often ask themselves are ‘How do I know how I’m doing?’ ‘Do I have enough?’, and ‘What will be left for my family to inherit?’ Fear of getting it wrong and the implications of doing so can often cause great concern.

Constructing a financial plan, which is tailored to the specific needs and aims of a person/family, can overcome the fear of the unknown and provide the following;

  • Simplification of financial affairs.
  • Understanding what you own and what you are entitled to.
  • An understanding of the tax efficiency of the assets held and income generated
  • An understanding of the impact of spending/saving patterns on long-term financial security. To include the trade-off between current income and future capital, as well as avoiding over-capitalisation at the expense of current income.
  • Understanding the rate of investment growth and risk exposure required to provide income and protect capital.
  • To know how your assets can be passed to others and calculate the likely inheritance you can leave.

The result is that a person can have control of their financial future, confident that they are best positioned to meet their specific needs, whilst knowing what assets can be passed to others, in life and upon death.

At the core of an effective Financial Plan is the management of assets. Ensuring the efficiency of risk, return, tax and administration of each clients’ assets are essential to meeting their specific financial aims.