4 important ways our financial planning and advice adds value

People around a desk piled with papers making plansAt Jane Smith Financial Planning, we take great pride in the value we offer. Our plans help to ensure that your money is working for you, putting you on the right track to achieve your dreams. Emotional wellbeing and peace of mind are important too.

We are transparent about the fees we charge, helping you to make informed choices. Quantifying the value that advice adds can be harder, but many have tried.

A recent report from the International Longevity Centre (ILC), published by Unbiased, found that advice could be worth almost £5,000 a year over 10 years, leaving you around £47,000 better off. Royal London, meanwhile, found that the cost of living crisis has increased the need for advisers and planners to offer reassurance.

Keep reading for four important ways that Jane Smith Financial Planning adds value to your financial wellbeing and long-term plans.

1. Helping you to set realistic financial goals

You probably have a fairly clear picture of what your dream retirement looks like. But is it achievable?

To build a successful financial plan for you, we need to know you. That means understanding your financial position now and where you hope to be in the future. We can then help you make changes to smooth the way to your realistic long-term goal.

This might start with simple household budgeting or cashflow modelling, which can help you to see the long-term impact of the decisions you make.

With the rise of chatbots, robo-advice, and so-called financial experts on social media and even on TV, it’s important to remember that your circumstances are individual to you. That’s why the plan we put in place is aligned with your goals, with the sole aim of making your financial dreams attainable.

2. Providing expert guidance in an ever-changing landscape

The last few years have been tumultuous for the UK politically and economically. From our slow Covid recovery to the revolving doors at Number 10 and 11, there have been many legislative changes to keep on top of.

From tax allowance changes and threshold freezes to the abolition of the Lifetime Allowance and State Pension Age reviews, Jane Smith Financial Planning are here to keep track so that you don’t have to.

But if you want to, we’re here for that too.

A 2020 ILC report found that one of the main non-financial ways in which advice can add value is through education. Advised clients experienced improved financial literacy and greater confidence, gaining a better understanding of, among other things, “the risk and reward trade-offs when saving and investing for later life.”

Successfully managing complex rules and strategies around tax, saving, and investing isn’t easy, but we can help. It’s why we’re here.

3. Regular monitoring to make sure your plans stay on track

You might think that once your financial plan is in place, the work of your planner is done. But this absolutely isn’t the case.

Due in part to the changing landscape we’ve already talked about, your plans need regular monitoring and reviewing. We can look at the potential impact of rules and legislation changes and ensure your plans remain on track and adjust as necessary.

But it isn’t just external factors that may influence your plan. Personal changes in your circumstances might change your priorities and mean that your plans need to change. Births and deaths, marriages and divorces are huge life events.

It is at these times that professional and independent financial advice can add real value.

4. Offering reassurance and peace of mind when times are tough

Offering guidance and peace of mind when the markets are strong is easy, but it’s when volatility and uncertainty strike that we can really add value.

Royal London found that 66% of advisers and planners currently see their main role as offering reassurance during the cost of living crisis. With markets fluctuating, inflation high and the cost of borrowing soaring, it’s understandable that you might be worried.

But expert advice can help to reduce your worry. The Royal London report indicate that 46% of the general population are concerned about rising living costs, but this figure drops to just 21% for those who regularly visit a financial planner.

Alongside the financial benefits, advice can also give you:

  • A greater sense of control over your financial future
  • Reassurance that your choices are based on all the available information
  • The boost in confidence that comes from having a clear and detailed plan in place.

Overall, these factors can improve your financial and emotional wellbeing during a difficult time, adding real value while providing peace of mind that whatever happens in the wider world your finances are in safe hands.

Get in touch

If you would like to discuss the value you receive from Jane Smith Financial Planning, or you have any questions regarding any aspect of your long-term financial plans, we’d be very happy to help.

Please contact us on info@janesmithfinancial.com or call 01234 713131.

Please note

This blog is for general information only and does not constitute advice. It should not be seen as a substitute for financial advice as everyone’s situation is different.

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