Henson Crisp taking care of your future, offering specilaist retirement advice in Peterborough and London

What is Financial Planning?

what is financial planning

It's simply your list of short, medium and long-term goals that are important to you, together with an outline of how you're going to use your money to achieve those goals.

Financial Planning is an ongoing process to help you make sensible decisions about money that can help you achieve your goals in life; it's not just about buying products like a pension or an ISA.

It could start with protecting your family by putting appropriate wills in place and considering how your family would manage without your income, before taking a more detailed view on managing finances and investment strategies.

The importance of a financial plan

We need to plan for unexpected life events like falling ill or dying prematurely. You could build a plan on your own to allow for unplanned eventualities, or if your needs are more complex you should consider the help of a financial adviser.

A financial adviser has a wealth of knowledge and experience, they can advise on investments, insurance, estate planning, budgeting, retirement planning, saving for college, tax planning and many other areas.

The best part of personal financial planning is that your future will be more secure.

How can a financial adviser help me?

Managing your finances

A financial adviser can assist you in managing your finances to ensure you are on right track to meet your financial goals. They will not only assess your current financial situation but discuss the objectives you would like to reach (and how long it will realistically take to achieve them).

Evaluate your financial situation

By helping you evaluate your financial situation, your financial adviser will be able to work with you to develop and implement a plan, that will help you reach your goals. It's important that your goals are reviewed on a regular basis too, a financial adviser will also help you to ensure your plan stays on track.

Your goals change with age and situation. It's hard to envisage the impact of funding your children through higher education, helping them to buy their first house, helping them out after a divorce or assisting relatives with unexpected long term care plans. We don't always know what's round the corner.

Keeping you on track to reach your goals

A financial adviser can help you make smart decisions to keep you on track in achieving your financial goals. They may suggest starting (or increasing) pension contributions in order to save for your pension, or putting aside money for unexpected events.

A financial adviser may also advise you on ways to grow your capital and protect things that matter like your family or business.

Peace of mind - keeping your finances under control

Financial planning can give you peace of mind that your finances are under control, and help you achieve your financial objectives.

Have financial goals, but don't know how to make them happen? Come and talk to us

When's the right time to make a plan?

The time to create a financial plan is NOW! It doesn't matter what your income is or plans for the future, it's important to have a solid plan to achieve your goals. It's not wise to have plans for your future retirement without first looking at how you can achieve and sustain your financial goals. Start creating a financial plan today, to enable your money to offer you more of what you want out of life.

Often planning for the future takes a back seat to staying financially secure, even those living from payday to payday can benefit from financial planning by creating a budget. A budget can be valuable in determining what you actually spent each month and can help you find ways to cut down or even eliminate unnecessary expenditures.

Helping you plan and invest for the future

Investment Planning
Spreading your capital in order to reduce risk, our investment approach emphasises the protection of capital.

Retirement Planning
Many people will need their capital to support them for 20 or 30 years in retirement or even longer.

Pension Planning
New pension rules make pensions an ideal way to invest and maximise tax savings.

Inheritance Tax Planning
With advance planning we can help you look at ways to minimise potential tax bills.

Protection Planning
It's important to protect your family and your assets, we can help you to maintain your wealth.

Financial planning is not just about investing, protection and tax mitigation. It is a process.
It allows you to manage your finances in such a way that you can link it to your goals.

Creating a sound financial plan

1. Establish your goals in life, whether they're short, medium and long term.
2. Set out your assets and liabilities (pension, house, investments, savings, dependants etc.)
3. Look at your current financial position and how realistic your goals actually are
4. Develop your plan and explore new ideas, maybe think about phasing your retirement
5. Your plan isn't just about money, think about your lifestyle and getting the most out of your retirement
6. Ongoing reviews - It's important to monitor and review your plan regularly to stay on track

Find out More about our financial planning process »

We specialise in providing you with quality, professional financial advice that you can trust.

Because of the current Coronavirus situation, we are changing how we conduct our meetings Learn more →

Henson Crisp Limited

Telephone: 01733 355120 / 02036 377140
Email: enquiries@hensoncrisp.com

Registered Office:
Ground Floor Bank House, The Lawns, 33 Thorpe Road, Peterborough, PE3 6AB.
Registered in England, No. 06266686

Offices in both Peterborough and London.
Financial Advice for individuals and companies.

Site Disclaimers

No investment decision should be taken based on the content of this site. Always take full individual advice first.

Henson Crisp Limited cannot be held responsible for the accuracy of the content of external websites.

The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.

Regulatory Statement

Henson Crisp provides Independent Financial Advice.

Henson Crisp Limited is authorised and regulated by the Financial Conduct Authority (register.fca.org.uk/). Financial Services Register No: 469175

Our alternative dispute resolution provider is the Financial Ombudsman Service.
Their website is financial-ombudsman.org.uk