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5 good reasons for your clients to make a Financial Plan

At any stage of life good advice can help your clients maximise what they have and make sure they are prepared for the future. FMB’s clients all have different circumstances but they all tell us that the greatest advantage of financial planning is peace of mind.

Peace of mind may be an outcome of financial planning but what are the specific areas where we can help?

1. To preserve wealth for future generations

More and more of us are being caught by the inheritance tax net. We come across clients who have just given money away without realising the implications of their actions. In conjunction with accountants, our advice can help shelter as much money from tax as possible using existing tax rules. Regular reviews make sure that tax planning stays on track so that the client’s family benefit from their wealth.

2. To protect businesses

Many of your clients will own businesses. Have you considered what would happen to that business if a key person or shareholder was incapacitated or died? This could leave a black hole in the revenues that could spell the end of the business. For small family businesses and farms this is a real danger. Our advice can help you identify these people and insure against their loss, so that the business gets a cash injection when they need it most.

3. To get the most from investments

If your client has not had advice for some time they could be investing in funds that are not right for their circumstances and attitude to risk. They may also be investing in funds that have expensive charges or have been under performing. Our bespoke investment process can help you put your clients’ money into funds that are going to work harder whilst at the same time provide a level of risk and diversity that matches their needs. Regular reviews are crucial, so it is important to ask your client how long it has been since they last saw a financial advisor. Regular tweaks and rebalancing can make the difference of thousands of pounds by the time the client retires.

4. To get the best income in retirement

Retirement just got more complicated! Gone are the days when choosing an annuity was the only option. Now good advice is more crucial than ever. Getting the balance right between risk and reward later in life when accumulation of wealth is no longer an option, is no easy task. Even the most savvy of investors will need walking through the options. Our “cashflow modelling tool” can give a realistic picture of how much income is needed to keep up the lifestyle the client wants and how far their pension pot will take them.

5. Making sense of it all - so keep it simple!

Does your client have complicated affairs with plans and investments scattered everywhere? As time goes by, things become more and more confusing. We find as people get older, their need for simplicity increases. Money should not be controlling them, they should be controlling the money. We can help by reviewing their financial affairs and making sure the collected plans and investments are balanced. If the portfolio has developed on an ad-hoc basis it’s more than likely the overall exposure to risk may be out of sync with the needs of the client.

Reading this you may have identified clients who match the descriptions. If so, please do not hesitate to contact us. We find it works best to meet with you and your client at your office with some initial thoughts on their situation.

Our first meeting is free and without obligation - call us on: 01539 725855

Notices and promotions

  • Please Note

    The Financial Conduct Authority does not regulate tax advice or trust advice.

  • Please Note

    The value of an investment and the income from it could go down as well as up. The return at the end of the investment period is not guaranteed and you may get back less than you originally invested.

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Financial Management Bureau Ltd is a limited company registered in England and Wales. Registered office: Shenstone House, Helsington, Kendal, Cumbria LA8 8AA. Registered number: 02089786