Achieving your life goals through financial planning


22-05-2020
field in sunshine

Sarah Austin, Independent Financial Adviser from Martin-Redman Partners explains the firm's financial planning advice process; and how it could help you understand, plan and achieve your life goals.

Having a financial plan in place, and regularly reviewing it, can ensure you are much more likely to achieve your life goals; whether these are to retire early or save a lump-sum to use towards educational costs, a larger home (or for that bucket-list holiday you’ve always wanted to go on.

We can help by identifying your financial issues, goals, and priorities. From here we will provide independent financial advice to help you achieve your life goals and provide peace of mind while we are working towards them.

Our financial planning process is as follows:

  1. Introductory meeting
    Here we explain our financial advice service to you and how we would work with you on your financial plan, both now and into the future. Your Adviser will explain their experience and qualifications - it is a chance for you ask lots of questions to understand whether you feel comfortable working together.
     
  2. Client Agreement
    Once we understand your financial circumstances and objectives, we will calculate and agree a fee for our financial advice with you. We will send a client agreement that covers the scope of services, our advice process and our fees for our mutual signatures.
     
  3. Fact-finding meeting
    The real work starts here! We carry out a fact-find to collect information on your financial circumstances, objectives and needs. For example, do you want to privately educate your children and how much will it cost and when? What age do you want to retire and on what income? Do you want your family to be financial protected should you die prematurely or become seriously ill?

    From here we can help you clarify and prioritise your goals and begin to devise your financial plan going forward. As a client do not be afraid to ask questions as we go through this process; you need to understand what is being considered on your behalf in as much detail as makes you feel comfortable.
     
  4. Research and Analysis
    There is always more than one way to meet an objective or meet a financial need. The major benefit of using an Independent Financial Adviser is having their knowledge and expertise to advise you of the most appropriate route for your circumstances.

    We will explore any existing plans you have, contacting each provider for up to date information on plan values and features. We then carefully research the market, taking into account your existing arrangements and future objectives
     
  5. Presentation of our Recommendation Report
    Here we present our recommendations in writing; which explains our financial planning advice and how this is best-suited to you, your financial circumstance and objectives.

    We will give you the relevant advantages and disadvantages of our recommendations, so you can make an informed decision.
     
  6. Further Meeting
    Communication has to be clear; if you have questions about the report or the alternatives considered but dismissed, you have the opportunity to ask the adviser to clarify matters face to face. 
     
  7. Implementation with Product Providers
    Once you are happy to proceed, we will implement the recommendations, where appropriate. Sometimes things are quicker, cheaper and more effective if you do it, so you may be asked to get a State Pension estimate, a premium bond from NS&I or a cash ISA from your local building society. We will support you to get the best from your resources, in the way that benefits you the most.
     
  8. Review
    The one thing that most people without an Indepdent Financial Adviser overlook is the way the world changes over time. We always want to review your arrangements and objectives on a regular basis; your circumstances change; the investment opportunities change; the tax rates and allowances change; reviewing your plan and investments allows adjustment over the years making it more likely you will reach your life goals.

Arrange a meeting to discuss your pension and retirement arrangements
Please get in touch with us to arrange an introductory meeting, at our cost. At Martin-Redman Partners we have both male and female advisers who can help you make the most of your money – either by managing your pensions and investments and assisting with your financial plan.

To find out more about how we can help, or if you have any questions on any point in this article please get in touch by calling us on 01223 792196 or emailing info@martin-redmanpartners.co.uk. We look forward to hearing from you.

About Martin-Redman Partners  

We are a team of experienced Independent Financial Advisers (IFAs) who can advise on your personal or business financial arrangements. We have been building trusted relationships with clients for many years by articulating clear and tailored recommendations in areas ranging from investments to pensions and retirement planning, to complex estate planning advice. 

We offer expert independent financial advice throughout Cambridgeshire, Leicestershire, Suffolk, East Anglia and the South East.  Many of our clients are within, or are in the surrounding areas of Cambridge, Grantham, Stamford, Bury St Edmunds, Frinton on Sea, Ely, Peterborough, Huntingdon, Cambourne, Newmarket, Soham and Oundle.

The information contained is for guidance only and does not constitute financial advice. It is based on our understanding of UK legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly, no responsibility can be assumed by Martin-Redman Partners its officers or employees, for any loss in connection with the content hereof and any such action or inaction. 

 

 

We provide independent financial advice on investments, pensions, inheritance tax planning and protection. We work with private individuals, businesses and professional introducers, such as accountants and solicitors, to ensure our clients financial advice needs are met.

Martin-Redman Partners