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?’ and ‘Do I have enough?’ 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 impact of spending/saving patterns on long-term financial security.
  • Understanding the rate of investment growth and risk exposure required to provide income and protect capital.
  • Understanding the trade-off between current income and future capital, as well as avoiding over-capitalisation at the expense of current income.
  • An understanding of the tax efficiency of the assets held and income generated
  • A calculation of the likely inheritance you can leave and how best to provide for those for whom you are leaving it.

The result is that a person can have control of their financial future, confident that they are best positioned to meet their specific needs.