At the top level, a financial plan is a road map to get you from A to B, from where you are now to where you want to be in the future.
We start with the destination – what are your goals. We’ll then work backwards, building a financial masterplan to get you there in the most effective manner.
In terms of specific areas of advice, whilst no two plans will be the same, most will comprise some or all of the following:
Are you setting aside enough for retirement, when can you afford to retire, and what might that retirement look like when you get there?
Are your savings and investments working hard for you, and are they structured in the most tax efficient way?
Do you have sufficient insurance in place so that your loved ones would be able to maintain a good quality of life should something happen to you?
We’ll create a visual projection of your future financial position. This will help gauge whether you’re on track to achieve your goals, ...if not, we’ll work out what needs to be done to get you back on track.
And in terms of specific products that we advise on, this includes pensions, ISAs, investment accounts, investment bonds, tax-advantaged products (e.g. VCTs, EISs, Business Relief investments), trust investments, and personal protection policies (e.g. life insurance, income protection, etc.).
In our experience, there
are three main benefits:
There’s no shying away from it – we’re in the business of generating wealth. That comes from multiple sources – ensuring your financial resources (investments and surplus income) are working hard for you, paying less tax (and therefore retaining more of any underlying investment profits), and keeping costs down.
Life is busy and personal finances can often take a back seat. We’re here to take the weight off. We’ll help manage your investments, we’ll tell you what to do to ensure optimal tax efficiency (and what needs to be included in your tax return), and we’ll keep up-to-date with regulatory changes.
And we provide you with peace of mind that you’re ‘doing the right things’, that you’re on track to have ‘enough’ (to meet your future spending goals and enjoy the retirement you deserve), and that you have a sounding board to discuss all things money-related.
The Financial Conduct Authority does not regulate Tax advice.
We adopt the following process:
The key first step in any financial plan is to get your organised. We’ll produce an Asset-Map report that provides a one-page snapshot of your assets, liabilities, income, spending (both current and future) and existing protection policies.
We’ll also work with you to identify your goals and priorities, and to quantify those goals that are quantifiable (i.e. convert these to a measurable spending target).
We’ll carry out a comprehensive review of any existing investments and pensions, and whether these are suitable for you. As part of this, we’ll establish your risk profile, a function of your ability and willingness to take risk.
We’ll also build your lifetime cashflow forecast, which provides a projection of your future financial position and helps gauge whether you’re on track to meet your goals.
We’ll make a series of recommendations, designed to improve your future position, based on your identified goals and priorities. We advise on the following areas – investment planning, retirement planning, estate planning and protection.
And the following products –ISAs, investment accounts, pensions, investment bonds, tax-advantaged products (VCTs, EISs, Business Relief) and various types of insurance. We’ll then liaise with third-party providers to implement the agreed solution.
The Financial Conduct Authority does not regulate Estate Planning.
Inevitably, ‘life happens’, whether that’s a change in circumstances, objectives, or the broader political, regulatory and economic landscape. Your financial plan should therefore be considered a living, breathing strategy, to be reviewed and refreshed on a regular basis.
We’ll meet at least once a year to review your financial plan, making adjustments where appropriate. You’ll receive a formal report to summarise and document our ongoing advice.
A short introductory call for us to get to know a bit more about you (your goals, any financial concerns you have, and a brief overview of your financial situation), and for you to get to know a bit more about us (our services, processes and costs).
We’ll collect more detailed information on your current financial position and assess your willingness to take investment risk. Where applicable, we’ll also review any existing policies (e.g. pensions, investments, etc.) to ensure these remain appropriate.
We’ll provide you with an initial Analysis report, which will include your Asset-Map (a one-page snapshot of your financial position), a summary of our risk and investment philosophy, a draft proposal to improve on your current position, and an estimate of costs. We’ll then meet again to discuss this in more detail.
Once we’ve agreed on how best to proceed, we’ll formalise our recommendation in a Suitability Report. No ‘war and peace’ here, we keep our reports concise and with minimal financial jargon.
If you’re happy with the proposed plan, we’ll arrange the necessary paperwork (all done electronically, via DocuSign) and get everything processed for you. We can set-up new accounts almost instantly, whereas transfers take longer (we’d typically budget around 4-8 weeks).
“Everyone has a plan ‘til they get punched in the mouth” [Mike Tyson]. Inevitably, life happens – circumstances change, regulations change, and economic conditions change. It’s therefore crucial to review and fine-tune your plan such that it evolves with you.
Ready to take your first step to greater financial health and wealth?
Book a callDon’t just take our word for it. Here’s what some wonderful clients have to say:
“It’s easy to put off reviewing your finances, it’s not the sort of thing you want to do on a Friday night! What we hadn’t realised is what a big difference a few tweaks can make and how quickly things can change. Thankfully we found George. George is knowledgeable and pragmatic and treats our circumstances as he would his own. He’s helped us find a balance between enjoying life and managing our future and gives us comfort that our finances are in order. If you’re looking for reliable and trustworthy guidance, look no further.”
- Director, FTSE100 company
“I have had the pleasure of knowing and being supported by George for the past few years. No question is too small, and I’m always met with patience, professionalism and vast knowledge. George is extremely helpful and goes above and beyond to make me feel comfortable with any decisions being made, relating to my finances. I trust him implicitly, and will continue to recommend him to my family and friends. I look forward to working with George for years to come.”
- Limited Company Director
"As an investment banking professional, I was originally sceptical about financial advice believing I could do it myself. 15 years into my career with my investments randomly allocated, paying too much tax and the feeling that I needed to get organised, made me seek advice. The return I have had from George’s expertise has been massive. The planning strategy, peace of mind coupled with the investment returns and tax savings has been game changing. I just wish I’d sought advice sooner."
- Executive Director, US Investment Bank
Our blog includes your relevant news about pensions, investments, protection, estate planning, etc. We always provide value and we never spam.
Blincoe Financial Planning Limited is an appointed representative of Sense Network Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales, No. 14569306. Registered office: Star Lodge, Montpellier Drive, Cheltenham GL50 1TY. Blincoe Financial Planning Ltd is entered on the Financial Services Register under reference 1000321. The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.
