Financial Planning

Financial planning is aligning your needs, values and goals with your finances, ultimately giving you peace of mind knowing that you’re on track to achieving financial independence. It starts with pinpointing the things that are important to you and identifying your financial goals.

Financial planning may involve managing your existing income and expenditure through cash flow modelling, saving for an early retirement or passing on your wealth to your family. Financial Planning brings all of these various elements together into one coherent and ongoing strategy.

Whatever your life goals are, financial planning will give you the answers you need; enabling you to focus on what’s important to you and giving you the freedom to enjoy life.

Financial planning

The value of financial planning

Throughout our lives, we face having to make financial decisions that can have a major impact on our wealth, as well as determining whether we meet our goals, and can protect ourselves and our families from unexpected events. A carefully thought-through financial plan can make a positive difference, no matter what life stage you’re at.

Certain life events, such as buying your first home, having a baby or retirement, will tend to prompt people to seek advice.

And don’t think that professional financial advice is only for the very wealthy or is only useful when it comes to making complex investment or pension decisions. Even a seemingly straightforward financial goal could involve numerous decisions and having to make a choice from a range of different products and providers.

Research has found that two in five people think they don’t have sufficient wealth to seek advice and over a quarter (27%) think advice is only for those with savings over £100,000. The reality is that 77% of those who have either sought advice or who currently have an adviser, have savings and investments of less than £100,000, compared to just 5% with more than £500,000.

Good financial outcomes are obviously important, but the true value of financial advice can be measured in different ways. As well as saving you time, working with a trusted financial adviser can give you the peace of mind and reassurance that things are in hand.

No two clients will have the same requirements, so it’s vital you obtain sound financial advice tailored to your individual needs. That’s where we can help, with tailor-made advice which helps to add value, whatever stage of life you’re at.

Over the years, research has produced some interesting findings that highlight the benefit of taking advice when making financial decisions.

When assessing financial returns, one study found that individuals who receive financial advice were likely, on average, to receive 4.4% more per annum in net returns. This was through a combination of financial planning, tax advice, preventing behavioural mistakes and rebalancing portfolios.

Elsewhere, another study highlighted that receiving professional financial advice over a five-year period (between 2001 and 2006), resulted in a total boost to wealth (in pensions and financial assets) of nearly £48,000, a decade later.

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.

Past performance is not a reliable indicator of future performance and should not be relied upon.

Financial planning tools

One of the most visual ways we can help you plan for your financial future is by using a cash flow modelling tool. Our cash flow analysis system, allows us to input information about the current value of your investments and apply relevant assumptions about things like investment growth rates and key life events to create detailed and precise cash flow models based on your individual circumstances.

We use this information to assess what you are likely to need to save, the investment returns needed to achieve your goals and estimate whether your ongoing income is likely to be sufficient to sustain you for the rest of your life.

Cash flow modelling 2

Our approach

We follow a six-step consultative approach to ensure you receive personalised financial advice.

Steps one and two form the initial no obligation consultation where we agree how we work together and is at our expense.

Our advisers will guide you through each step at a pace that suits you and together we will formulate your financial plan.

  • 1. Setting goals
  • 2. Gathering information
  • 3. Performing analysis
  • 4. Designing strategy
  • 5. Implementing
  • 6. Regularly reviewing

Our advice framework

View our six-step approach in more detail

Our areas of expertise

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Life stage planning
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Tax efficiency
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Retirement planning
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Estate planning

Schedule a meeting with an adviser

Email info@thepennygroup.co.uk or call 0207 061 2345 if you would like to schedule in your initial consultation with one of our experienced advisers.