Financial planning is an ongoing process with numerous elements involved.
How the cycle works
The financial planning cycle begins with us sitting down and establishing what you want to achieve.
We’ll talk about your future goals; your timescales; your priorities.
We then move on to look at your current financial position. We explore what assets you have and where they came from. These might include things such as savings, pensions and investments.
We’ll also ask you about any properties you own and your plans for them, and we’ll review any liabilities you have and how you are planning to pay them off.
The process will also include thinking about your income and expenditure now, and how you might see these changing over time.
Once we’ve worked out where you are and where you’re trying to get to, we will consider various scenarios and formulate a plan that will help you get there.
We’ll deliver our proposal and with your agreement we can set your plan in motion.
Once everything is in place we will continue to meet with you on a regular basis, checking how your circumstances, timescales or priorities have changed and updating your plans as required. This ensures that you remain on target to meet your objectives.