Financial Planning

The first step of the financial planning process is to gather information and understand your current financial situation. 

The next step is Identifying and prioritising your financial goals. Then, a financial planner will analyse different investment options that align with your goals and risk tolerance. 

The fourth step is to develop a bespoke plan based on your goals and the final step involves reviewing and adjusting your plan where needed.

When you meet with an adviser, they will ask you about your goals and aspirations. They will also enquire about your objectives. 

They will ask you questions about your income and expenditure, how long you have left to clear your mortgage and your lifestyle. A financial planner will also ask you if you are looking to accrue wealth, whether you have debt that needs paying off ad if you pay into a pension. 

This is the information an financial planning professional should ask to fully understand how they can help you best.

Ultimately this is a matter of personal choice and we can’t ever say that you should hire a professional to offer financial planning advice or guidance. However, here are some of the reasons you could.

Hiring a financial planner will provide you with guidance in creating a comprehensive plan, managing debt, saving for retirement, and achieving financial goals. Many of us hire a fitness coach to improve our health or a business mentor to help guide us toward commercial success. 

Therefore, working with a financial planner is no different. There are skilled financial services professionals and working with one has many advantages.

A financial planning professional performs a number of roles. 

They seek to understand your financial goals and aspirations and enter into a financial planning process with you to help you achieve them. Furthermore, they can help and advise on debt.

Companies offering a good financial planning service will use cash flow and financial modelling software to predict where you might be financially in 10, 20, or 30 years. 

They can also see if it is better to overpay your mortgage or invest in a pension considering the potential growth of your investments versus the interest saved on clearing your mortgage.

If you have had bad advice we are sorry to hear that. Sterling & Law’s financial planners are credible industry professionals and strive to make the best recommendations.

We will take you though an informed, detailed process that serves to ensure we will provide advice that reflects the information and the objective you wish to achieve.

Hiring a financial planner can help you create a personalised financial plan, achieve financial goals, and make informed decisions about investments and other financial matters.

It’s like having your own financial consultant who is on your side, helping you realise your dreams and aspirations. You can always go online and try and do all of this yourself.

However, experienced financial planning professionals have years of industry and investment know-how to rely on when making recommendations. 

It is very similar. However, the nuance comes from the words, planning, and advice.

Both can perform similar roles, however, some financial advisers may simply offer advice and recommend an investment fund, or type of pension to invest in. A financial planner may take a more active role in your financial life. 

You’ll be pleased to know that at Sterling & Law, our advisers are committed and don’t just ask a few questions and sell you a product. Our financial planners and independent financial advisers work with their clients closely and proactively.  

Great question, however, we can’t answer this on your behalf right now before taking the time to understand your requirements, goals and situation. 

That said, a financial planning professional’s advice and guidance can help you make more informed decisions and potentially increase your long-term wealth.

They can help you plan for the cost of private school fees, help you save towards your dream retirement and more!

During the initial information gathering and recommendations phase, you will have plenty of contact with your designated financial planner. After the plan is set, you will have a yearly review to review and adjust your plan. 

Of course, if anything changes for you i.e. redundancy, divorce, or a period of ill health, get in touch with your financial planning professional to see how they can help. 

The cost of our financial planning services varies depending on the complexity of your financial situation and the specific services you require.

For some customers, we charge a flat fee, and for others a percentage of assets under management. Lastly, in some cases, we may use a combination of both.

Our fee structure is both transparent and clear.

Our financial planning services are delivered by experienced independent financial advisers in London, the Home Counties, and the South, Furthermore, we have an office in Leicestershire.

Our financial planning specialists can meet you at your home, via video call, or in a location of our choosing such as your offices.