Financial Planning or Advice

  • by Graham Bond
  • 25 Apr, 2017
Financial Planning or advice

Although the terms are familiar, there is a big difference between the types of service your Financial Planner will provide, compared to the work a financial adviser will carry out for you.

Financial Advice

Financial Advice relates to the specific task that your planner or advisor will carry out for you. Types of tasks might include arranging an Individual Savings Account or your pension. It addresses the specific needs you have now, not looking into the future. This type of advice can be provided by an independent financial adviser, or a restricted adviser. Restricted advisers can recommend one or a limited number of product providers.   Banks and Building Societies usually offer restricted advice.

Financial Planning

Financial Planning addresses your long term objectives, dreams hopes and desires for the future, and how you can achieve this. A good financial planner will help you develop a long term financial plan that is continually reviewed and adjusted according to your change in circumstances. The plan should show you what you need to do, to make sure your dreams and wishes come true.
Any long term  financial plan  should also include an analysis of your income and expenditure (not just now but in the future), your assets and liabilities, your thoughts and feeling about investing as well as your short medium and long term objectives.

A good financial planner should show you how to reduce risk. Whether to yourself, your family, your assets (for example investments, pensions, business and property.
A planner that offers a comprehensive service will work closely with their clients to help them live the life they want not just now, but in the future.
Addressing issues such as never running out of money and maintaining your standard of living in retirement. A cautious and prudent approach to managing your money is at the heart of any good financial plan.

Less than ten years to retirement

For some clients the service advisers carry out will be sufficient. However the closer you get to retirement, arguably you should have plans in place to ensure you finances are mapped out. If you feel that you need a financial plan, always contact your financial planner or adviser. They should be able to help, if not then find one that can help you.

We have developed our Lifestyle financial planning service over the last five years. It is specifically designed to help clients that are within ten years of retirement. If you would like to find out more about our service please contact us.


Recent Posts

by Graham Bond 05 Jul, 2017

Time and time again forecaster try to predict what will happen in the future to Stock Markets. In reality, nobody knows what Markets will do next.

The Wall Street Journal in the US recently published an article about the performance of Global Stocks and Shares. The article was called, “ Global Stocks Post Strongest First Half in Years, Worrying Investors .”

“The question for stocks and shares investors is whether the strong first six months of 2017 heralds a choppier second half or the start of a multiyear upswing. The data on global rallies offers a mixed record.”

In plain English, this means:

 “It’s impossible to predict whether markets will go up or down for the latter half of the year. Markets could go up or down or even trade sideways.”

The newspaper article also reported that: “Most of the major stock Market Indexes, 26 in total have risen in value so far in 2017. The last time this happened was in 2009.

by Graham Bond 29 Jun, 2017
Here's an update on Personal Finance Portal. From the 4th July our client portal will have a new look and feel about it. 
The software provider we work in conjuction with have revised the format to make it easier to use for our financial planning clients.

The Personal Finance Portal is a quick and secure way to obtain up to date valuations on your pensions and investments. It also offers you a way to communicate safely with us as the service is encrypted. The same cannot be said about email, which is not secure. 

The aim is to make the navigation easier to use and to provide more information to you on your finances. 

The video below shows some of the improvements that will be made. We hope you find it useful and informative. 

To access our portal please click this link

If you would like to find out more about the Personal Finance Portal please feel free to contact  us on 01454 321511. Consilium Asset Management offer Independent Financial Advice to private and business owners in the Bristol area. 
by Graham Bond 21 Jun, 2017

Over the month weeks and months, we are looking to improve the personal finance portal (PFP) for our clients. The first stage is to introduce a live chat, audio and video service whilst clients are logged into PFP. This is the first level of improvements we will be making over the coming months. The live chat service is safe and secure.

More posts
Share by: