The value of financial planning

Financial planning goes beyond just managing money; it’s about helping to create a clearer path to the life you desire, providing you with confidence that your finances are helping to support your goals every step of the way.

When you first think about financial planning, it’s natural to focus on the numbers. You might be interested in reducing your tax bill, maximising your investments, or ensuring you are on track for retirement.

While financial planning can certainly help in these areas, it goes far beyond that. It is about helping you feel more confident about the future, make better informed choices, and enjoy the lifestyle you want today and in the future.

When clients first approach a financial professional, it’s often because they need support with a specific question or concern, such as:

• Can I afford to invest more of my wealth?
• How much do I need to save to enjoy my lifestyle in retirement?
• What can I do to reduce Inheritance Tax for my loved ones after I’m gone?

While a financial planner can help you answer questions like those above, the process of financial planning is even more all-encompassing.

This guide explores the value of financial planning and how it could deliver lasting benefits. It helps strengthen your financial position, keeps you focused on your goals, encourages you to reflect on what truly matters to you, and guides you in taking steps to achieve those goals.

Get in touch
If you’d like to discuss your existing financial plan or wish to arrange an initial consultation, please get in touch.
advise-me@fosterdenovo.com

Please note: This guide is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.
The Financial Conduct Authority does not regulate estate planning, cashflow planning, tax planning, trusts, Lasting Powers of Attorney, or will writing.
A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available.
The tax treatment of pensions in general and tax implications of pension withdrawals will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
Note that life insurance and financial protection plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.
Cover is subject to terms and conditions and may have exclusions. Definitions of illnesses vary from product provider and will be explained within the policy documentation. Pension savings are at risk of being eroded by inflation. Pension income could also be affected by interest rates at the time benefits are taken.