The Value of Financial Planning

I recently received an enquiry from someone who said they wanted help with their pension.

When we spoke, they told me they wanted to grow their pension. So, I asked why.

They said it was because they weren’t happy with the returns.

We discussed why that was.

They said it was because it hadn’t grown as much as they expected.

I asked how much they needed it to grow by.

They said they weren’t sure, but more than it had been.

So, I asked, “How will we know if any advice I give you is the right advice?”

To which they said they weren’t sure.

And that took us into a far more valuable conversation.

One that took us away from the product and instead focused on them as a person.

We explored their future plans.

Their dream of traveling to Australia to visit family.

Taking weekend breaks across Europe.

Helping with their grandchildren’s education.

Reigniting a passion for model planes.

It became clear they wanted to grow their pension to have enough money to do all of these things, but they didn’t know how much money they were going to need.

And it was because of this that they had set out to simply grow the pension.

This is where the real value of financial planning comes in.

We can work out how much you need to do what you want to do.

Growth for the sake of growth serves little purpose.

Growth with a plan can change your life.

It can give you the confidence and peace of mind to know that you’re going to be financially “ok” and you can go and do the things you’ve always wanted to, knowing that you have enough.

Focus on the plan and then worry about the products.

The Financial Conduct Authority does not regulate Cashflow Planning.

The value of pensions and any income from them can fall as well as rise. You may not get back the full amount invested.