When it comes to managing your finances, seeking advice from a professional financial adviser is a smart move. And just like any professional relationship, it’s essential to conduct annual reviews with your adviser to ensure your financial plans are still on track and to make any necessary adjustments.
We will discuss the importance of annual reviews with your financial adviser and the benefits they can provide.
Keep up-to-date with changes in your life
Life can be unpredictable, and things can change quickly. An annual review with your financial adviser will allow you to discuss any significant changes in your life that may affect your financial plan. This includes life events such as marriage, divorce, birth of a child, or changes in your income. By discussing these changes with your adviser, they can adjust your financial plan to accommodate any new circumstances and ensure you are still on track to meet your financial goals.
Review your financial goals
Your financial goals are likely to change over time, so it’s important to review them regularly with your financial adviser. An annual review allows you to discuss any changes to your goals and ensure that your financial plan is still aligned with them. This can help you stay motivated and focused on achieving your goals.
Check your investment performance*
Your financial adviser will regularly monitor your investments to ensure they are performing as expected. However, it’s still important to review your investment performance regularly, especially during annual reviews. This allows you to discuss any concerns you may have and make any necessary adjustments to your portfolio.
*Please note: Your capital is at 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. Past performance is not a reliable indicator of future performance.
Adjust your risk profile
Your risk profile may change over time, and it’s important to ensure that your investments are still aligned with your risk tolerance. An annual review with your financial adviser allows you to reassess your risk profile and make any necessary adjustments to your investments.
Discuss tax planning*
Tax laws and regulations can change quickly, so it’s important to regularly review your tax planning strategies with your financial adviser. An annual review allows you to discuss any changes to tax laws and ensure that your tax planning strategies are still effective.
*Please note: The Financial Conduct Authority does not regulate Tax Planning.
Evaluate your estate planning*
Estate planning is an essential part of any financial plan, and it’s important to review it regularly to ensure it still meets your needs. An annual review allows you to discuss any changes to your estate planning needs and make any necessary adjustments.
*Please note: The Financial Conduct Authority does not regulate Estate Planning.
Annual reviews with your financial adviser are essential to ensure your financial plan remains on track and aligned with your financial goals. By regularly reviewing your financial plan, you can make any necessary adjustments and ensure you are on track to achieve your financial goals. If you haven’t had an annual review with your financial adviser, now is the time to schedule one so please get in touch.
Please note: Your capital is at 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. Past performance is not a reliable indicator of future performance.