What are the Different Types of Personal Financial Planning?

These can be categorised under the following:

- General Financial Planning: Having your finances in order; establishing a clear financial outlook planning early for a secure financial future.
- Retirement Planning: Planning retirement goals – the actions and decisions required to realise those goals; e.g. planning expenses and savings in order to enjoy a comfortable retirement.
- Life Insurance Review: Understanding the impact life insurance can have on your overall financial planning.
- Investment Review: Have your investment ideas reviewed by a professional in order to maximise post-tax returns.
- Tax Planning: Critical in meeting overall financial planning goals by understanding and managing the risks involved in tax.
- Individual Savings Accounts (ISA): ISAs make for a tax-efficient way to invest and save money
- Mortgage Advice: A mortgage adviser can provide in-depth knowledge of market conditions and mortgage products which apply to individual needs.
- Equity Release: Equity release is usually integrated with financial planning because spending money in an intelligent way is critical to accomplishing financial success.
- Trusts or Estate Planning: When transferring assets to a charity or family members, proper planning is required to cut down tax burden for all parties involved.
- Pension Drawdown: Draw a sustained income from your pension while keeping the rest invested. Alter investment choices and income level on the go.
- Financial Advice for Businesses: A financial adviser can save businesses plenty of money while offering bespoke advice on maximising profits.

2. What Information is it Recommended to Provide a Financial Planner?

In order to provide highly personalised and relevant advice, questions a financial planner typically asks may include:

- Current line of work, including current salary and expected future salary
- Assets and liabilities, including property and whether you have a mortgage
- Recent statements for financial accounts such as checking and/or savings accounts, mortgage type, interest rate, brokerage account, managed accounts, etc.
- Retirement plans
- Money owed to debtors, etc.

3. Can a Personal Financial Planner Offer Advice Even if I’m New to Financial Planning?

Yes, they absolutely can. You do not need to be an expert in investments or financial planning in order to avail the services and professional advice of a Certified Personal Financial Planner. Make sure that you answer the above questions in a frank and transparent manner so that you can be provided with tailored advice.

3 Personal Financial Planners in Redhill, Surrey

Pay-as-you-go experts in-person or online

Where are you located?

Company

Customers

Professionals

Contact Us

Company

Customers

Professionals

Contact Us