When you first speak with a financial adviser, they will explain what their ongoing financial advice services cover, the initial cost and the ongoing costs of their services.
Financial advisers can help you identify your financial goals and how to achieve them. We work with every client by taking a detailed look at their personal circumstances, understanding what they want to achieve with their finances, both now and in the future.
We also investigate your attitude to risk. Much of a financial plan involves risk-based investments such as stocks and shares. Although these types of investment are proven to be beneficial to investors over time, their performance can be volatile. We assess our client’s tolerance to this volatility to help put together a portfolio of investments which they are comfortable with in terms of the level of the fluctuations in value over the life of your plan.
Once we have identified your goals and assessed your attitude to risk, we will construct a financial plan. This can involve a variety of decisions and combining several products and services such as tax planning, retirement planning and cash flow modelling.
Our clients understand the value of this initial advice as there are many hours of work put in to build this portfolio based on your wants and needs. What is sometimes misunderstood, is the value of the ongoing advice that we provide and how we quantify this.
Ongoing Financial Advice
Ongoing Financial and Tax Planning
Over your life, your financial plan can change such as personal circumstances, your income, expenditure and tax laws. Regular reviews with your financial adviser will ensure your plan remains up to date.
Asset allocation
Looking at the asset classes making up your portfolio of investments over time is important. A financial adviser will work with you to ensure that the mix of asses matches your circumstances.
Behavioural Coaching
We are subject to a myriad of emotional and behavioural biases. These biases tend to not help in decision making when it comes to our investments, particularly when it comes to market falls. A financial adviser is there to help you to make the right decisions at the right time when it comes to your investments.
Withdrawal Strategies
When you withdraw funds it is important that this is done in a tax efficient manner, as well as ensuring the integrity of your investment strategy is maintained.
Investment Selection
It is important to marry your long-term objectives with the level of risk you are prepared to accept. This will help your financial adviser dictate the mix of investments they create.
Rebalancing
As financial advisers, we regularly review your portfolio to ensure that it is aligned to your risk profile.
We hope that the above provides you with an understanding of what benefits ongoing financial advice brings to you. If you would like to speak to Stuart or Jack, our financial advisers at Resolve Financial Solutions, then please get in touch.
*Please note: Investments carry risk. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. The Financial Conduct Authority does not regulate tax planning.