Financial Planning Specialists
Put simply, financial planning is the process of creating an ongoing, focused plan for managing your finances in line with your needs, values, and personal goals. It’s a roadmap of where you are now, where you want to go in the future, and how you will get there.
When creating a financial plan, you make decisions suited to your expenditure, risk appetite and future goals.
The road map you create, with the help of a certified financial planner, arms you with the information you need to make informed choices about your short-term goals to ensure they align with your long-term plan.
Areas of Financial Planning
Creating a financial plan is ongoing and extensive. There is a lot to consider in so many different areas. Here are some of the key areas you will focus on as part of financial planning:
Investment Planning
Investment planning is an important tool for achieving financial freedom. Investing is an essential part of building wealth. Instead of keeping your money in savings with low interest rates, you can make your money work for you by investing it in various ISAs. Our financial advice will be tailored to your personal financial situation. We will help you make the most of your allowances, investing your capital tax efficiently to protect (and potentially grow) your wealth.
Our financial planning services cover everything from cash ISAs to stocks and shares ISAs, LISAs and JISAs. We offer both advisory-managed and discretionary investment advice.
Retirement Planning
From thinking about early retirement to saving for later life, retirement planning is a big part of financial planning. Our advice can help you make the most out of your pension and any other investments you might have, ensuring you can achieve the retirement you dreamt of.
We create bespoke retirement plans that are suited to your age, your lifestyle, and your risk aversion, helping you invest in your own future, and giving you confidence about your financial future.
Later-life Planning
Later-life planning is similar to retirement, but it focuses more on one specific area: long-term care.
There are so many unknowns when it comes to getting older, including whether you might need some form of care. Whether that’s a live-in carer, daily visits, or moving to a retirement home, we help factor these unknown costs into your later-life plan. We can recommend solutions like paying-as-you-go or immediate needs annuity. We can also talk about your power of attorney.
Estate Financial Planning
Estate financial planning is the process of creating a plan of action for when you pass away. Careful estate financial planning helps you pass over more of your estate (that is, your home, property, savings, pensions etc.) by transferring it in a tax-efficient way. We’ll cover areas such as inheritance tax, gifting, donating to charity and your final will and testament.
In estate financial planning, you’ll decide who you want your beneficiaries to be, when you want them to receive help and how you can keep their inheritance tax bill liabilities to a minimum.
Financial Planning: The Specifics
Now you have an idea of the areas we will look at, here are some of the specific actions you might take (with our help) as part of financial planning.
This is the only way to ensure your money will go where you want it to. Without an up-to-date will, your personal finances might not be split up how you would want them to be. From pension pots to properties, antiques, debts and savings, your will should be comprehensive.
Pensions are confusing, especially if you have amassed several pensions with different providers, from different jobs. Our financial planners can help you decide whether to bring them together.
You insure your car, your house and your holidays, so you should insure your money too. Protecting your income can contribute massively to your peace of mind. This might be through income protection, which will keep the money coming in if (for any reason) you are unable to work. Or, life insurance which will help your loved ones in the event of your death.
A well-managed, diverse portfolio of investments can help your wealth grow over time. More importantly, it can also keep your money ahead of rising inflation. There are risks, and your money is not always guaranteed to grow, but clever investing is an intrinsic part of financial planning and wealth management.
You want your loved ones to receive as much of your wealth as possible when you die. Estate planning solutions are essential to achieving this. Our estate planning solutions can help you understand how inheritance tax works and how you can best plan for it.
How Can Our Financial Planners Help You?
Our financial advisers can help you create a customised financial plan that meets your specific needs and financial goals. This may include creating a budget, developing an investment strategy, helping with retirement planning, pension advice, and protecting assets through insurance.
Our fully bespoke and tailored approach to financial planning takes a deep dive into your current financial situation, financial aspirations and goals before resurfacing with a financial plan best suited to you.
At Beaumont Wealth, we understand that this may be a new process for you, so our expert team will take the time to get to know you and your current situation. Then, they can explore the best opportunities for your unique position, helping to make your money work for you.
There are many elements to financial planning that we can advise on that you may not yet have considered.
For example, how would you pay your household bills without an income or what happens to your money if you die prematurely?
Whatever concerns you might have about your financial situation, past, present, or future, we can help. Contact us to arrange an initial consultation today.
About Beaumont Wealth
For 23 years, we have taken our clients’ finances very seriously. Over the last couple of decades, our highly qualified, expert, independent advisers have been helping clients achieve their financial goals through our wide range of services.
We understand that managing your finances can be difficult and often overwhelming, so we aim to take this stress away from you. From estate financial planning to ISAs and investments, we can help create, tailor and refine every part of your long-term financial plan.
We pride ourselves on the long-lasting relationships we have built with clients, many of whom we have worked with throughout our existence. Through our financial planning service, we’re with you for the long run.
We are extremely proud of the team we have built, and by offering professional advice from people who truly care, we have achieved an outstanding retention rate with our clients throughout Cheshire, Shropshire, The Midlands and beyond. Get in touch with us today.
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