Why do you need a
financial plan?
Most people have financial goals that they would like to achieve and they also, providing the goals are not unrealistic, generally have the means and ability to achieve them. The fact is however that the vast majority of people fail.
Why do I need a financial planner?
People don’t plan to fail, they fail to plan. Most people implement a variety of financial products over time, because they feel they should be doing something as opposed to nothing. The problem with this approach obviously is that there is rarely any analysis involved in what the most effective vehicle would be or indeed how much should be invested to actually achieve the goal.
Achieving goals in this manner is down to luck more than sound financial judgment.
My role as your financial planner
My role as your financial planner will be to take the guesswork out of the equation. Typically, the reasons why most people fail financially include:
- The first reason is simply not putting in place a written plan. If you were starting a new business today, the first thing you would do is compile a business plan. Yet most people run their financial lives without any such plan in place.
- However, even the small percentage of people who do construct the plan tend to lose direction down the road due to a lack of monitoring.
financial obstacles
Then there are financial obstacles that actually prevent people from getting ahead.
financial obstacles
- Not establishing well-defined goals.
- Not taking into account the long-term effects of inflation.
- Delaying action, or simply putting things off. This is probably the biggest obstacle of them all.
- The effects of over-taxation. While HMRC ensures tax laws are properly applied to your income and investments, there are also valuable reliefs and allowances available – yet many people miss out on making the most of them.
- A lack of understanding of risk, firstly as it relates to investment and understanding the relationship between risk and reward when it comes to designing an investment strategy, secondly, the everyday risks involved in life, for example, understanding the financial implications of a premature death or a long-term disability.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.
Why work with me as your financial planner?
I really see my role as helping you overcome all of these obstacles. In doing so, I can ensure that attention is paid to your whole financial picture.