Cast your mind back, if you dare, to the maths and chemistry lessons of your youth.
Among piles of musty exercise books and the droning monologues of your teacher, you might recall the formula for determining the circumference of a circle or the hypotenuse of a right-angled triangle. It’s likely that you can still remember Einstein’s world-famous equation, part of his special theory of relativity.
But when did you last use any of these equations – if ever?
While it’s never too late to revisit your schooldays and (re)learn something new(ish), you might find that other equations matter more to you in your adult life. Such as the formula for great-value financial planning.
Keep reading to discover just that.
5 key components to great value financial planning
Before we unveil our formula for financial success, let’s take a look at its constituent parts.
1. Knowledge (K) and application (A)
Successful money management can be difficult. Complicated tax systems, changing legislation, and topsy-turvy markets can make finding the right place for your money seem an impossible task.
That’s why you came to the experts.
In our recent blog, What our Accredited and Chartered status means for you, we looked at the rigorous criteria these gold standards are judged on.
Both the Chartered Insurance Institute (CII) and the Chartered Institute for Securities and Investment (CISI) require of its members impeccable ethical standards, water-tight business practices, and a commitment to acquiring and retaining expert knowledge.
We apply this knowledge to help you manage the full range of your financial processes, answering any questions you have.
This might be on topics including:
- Tax-efficient retirement planning (from accumulation to decumulation)
- Asset allocation, investment selection, and risk management
- Estate planning and legacy building.
By applying our knowledge to your circumstances, we can understand the problems that are unique to you, find bespoke solutions to these problems, and help you attain your goals.
2. Organisation (O)
You’ve probably got a good idea of what you want your financial future to look like, and a picture of your dream retirement in mind. An expert financial plan can help you to get there.
Through planning, organisation, and constant monitoring, we can keep a regular eye on your finances. By checking in with your investments we can decide if rebalancing is required, altering your asset allocation in line with your risk profile.
If life milestones or events change your priorities, we’re on hand then too.
While your ultimate goals might not change too much over time, births, deaths, marriages and divorces (among other events) can shift your perspective and mean that tweaks are needed.
3. Behaviour management (Bm)
At Jane Smith FP, our experience in the financial services sector means that we’ve seen our fair share of changes, in rules and legislation, and the markets.
Part of our job is to help you understand what you want from your retirement plan and how your inbuilt human biases could prevent you from getting there.
This might mean cutting out the noise of stock market volatility or helping you to rethink your attitude to risk. This requires mutual trust, which only comes from a positive relationship.
4. Relationship (R)
The relationship we develop as we work together is crucial for the success of your plan.
Back in May 2023, FTAdviser reported that two-thirds (66%) of advisers see their main role as providing reassurance as the cost of living crisis continues.
Financial education and the reassurance of an expert-backed plan from a trusted adviser give you confidence in the present and a sense of control over your future. You’ll also know exactly what you’re paying upfront, thanks to our transparent fees.
5. Product (P)
Only once all of the above are in place will we think about the products that are right for you.
And as an independent firm and a family business, you’ll be safe in the knowledge that we have access to the whole of the market. That means we’re in a great position to find the right solutions for you.
The formula for great value financial planning
So here it is, the formula for ensuring you get great value from the financial planning we offer:
We understand that great value financial planning (Vfp), requires the application of expert knowledge and the organisational skill to put a robust and bespoke plan in place.
Through a nurtured relationship, built on trust, education, and behavioural management – and exactly the right product for your circumstances – we can help you to achieve your financial goals.
And not a school bell or board rubber in sight!
Get in touch
If you would like to discuss the value of the financial advice we provide to you, or any other aspect of your long-term financial plans, please contact us at firstname.lastname@example.org or call 01234 713131.
The value of your investment 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. Levels, bases of and reliefs from taxation may be subject to change and their value depends on the individual circumstances of the investor.