Good Financial Planning

By Huw Jones

Good Financial PlanningIn today’s world you may wonder whether you still need a living, breathing financial adviser.

You do.

But with a twist.

First, we need to redefine traditional financial advice – the kind that’s been delivered by those focused on selling product recommendations or executing transactions – if that’s what you’re thinking of, you are correct: You probably don’t need that.

Wide swings in investment values are a fact of life. Despite increasing access to information and proliferation of online tools and apps to help, the feeling of information overload and confusion is inevitable.

We see these technological advances as augmenting rather than replacing the solid advice that most investors still sorely need to see their way through safely to the “other side”. We call this financial planning.

So, what is “good planning”?

Good planning is timeless … and timely. At its essence, good financial planning never goes out of style. Its principles are permanent: It should be brave and true, and meant for you. At the same time, it must remain relevant in an ever-changing world. A planner should be able to help you embrace promising new opportunities and insights, while avoiding the false leads and frightening challenges that are as formidable as ever in today’s markets.

Good planning looks at the parts … and the whole.
Good financial planning helps you manage your investment portfolio for preserving or increasing your wealth according to your goals. It also helps you plan, implement and manage your myriad related interests: taxes, insurance policies, estate planning paperwork, philanthropic pursuits, executive compensation, property holdings, business activities and more. Beyond that, what are your goals? How can we relate your total wealth to your relationships, resources and realities? Good financial planing should bring a unifying whole to your multifaceted parts.

Good planning is personalised … and persistent. Good financial planning is essential for making good decisions – not just in general, but for you: your money, your interests, your life. It’s about being in a relationship with a planner who is there for you, not only during the promising planning stages when everything makes sense, but when your resolve is being tested in turbulent markets, or when your own life’s events have knocked you off-course. Good planning helps you find your way when you’ve been knocked off course by the unexpected.

Good planning is wise … and compassionate. Good financial planning is grounded in enduring academic evidence, structured process and informed experience. But for all that, financial planning is nothing if it fails to contribute to that which brings joy to your life, to help you protect the ones you love, and to reassure you in times of trouble. For this, a good planner must not only advise you; he or she must listen to you. This brings us to our most important point.

Good planning is in your highest financial interests. Above all, good planning should always be in your highest financial interest – even when it means the planner must take a hit to deliver it.

We hope you’ll be open to good planning when you hear it – the kind that sees you through turbulent times, onward to your relevant financial and life goals. If this advice sounds a little different from the status-quo of best buy Isa’s and hot fund lists you may be used to hearing about, that’s because it is.

Do you want to find out more about good planning? We hope you’ll be in touch.