Meeting with a financial adviser

04 Apr 2022

Benefits of financial planning

Lisa Denton

Associate Financial Planning Director

How expert advice can help you at every stage of your life


When you picture your future, it’s common to hope that you’ll be in a stronger position financially then than you are now. We all have goals and dreams that rely on a certain standard of financial wellness, and that require an element of planning.

Financial planning is an ongoing process designed to help you meet your longer-term objectives. Whilst it is possible to create your own financial plan, a financial planner can save you time and provide expert advice on how best to meet your financial goals. 

Here are some of the key benefits of financial planning:

Setting - and meeting - your financial objectives

Establishing what your goals are is the first step to achieving them. This is something you’ll need to do several times throughout your life. As life progresses, there will be certain points where your financial goals are likely to change, for example, when you’re starting a family, progressing in your career, or approaching retirement.

A good financial planner can help you establish your goals and then create a plan on how to reach them.

Retirement planning

Retirement is one of the most significant life changes we go through. During your work life, a financial planner can help you build up provision for your future. As you near retirement, they will help you through the transition, explaining the different options for maintaining your desired lifestyle.

By creating a plan based on your individual needs, your planner can establish how much you will need to mitigate the risk of running out of money in retirement whilst creating a solution on how to minimise tax.

Tax planning

Tax considerations are a key part of financial planning. There are constant changes to legislation that incentivise you to save for retirement or that help you to pass on your estate more tax efficiently.

By consulting an expert and taking advantage of the available tax reliefs and allowances, it’s possible to maximise your total net wealth.

Estate planning

Estate planning is more than just money and tax, it is about making sure the people who are left behind are financially supported, that your assets are protected and that the tax paid is fair.

A financial planner can help with ensuring your estate is passed on to the right people and look at ways to manage or reduce your potential inheritance tax liability so that your loved ones will benefit more from your estate.

Reviewing the whole picture

Financial planning is not about buying products (as important as products can be in creating a solution). It is an ongoing process of aligning your personalised plan with your needs and objectives, keeping that plan under review, and providing you with peace of mind.

By viewing each financial decision as part of a wider strategy, you can consider the short and longer-term effects on your goals.

At Investec, we have a team of financial planners who can provide you with an individual professional advice service. Please don’t hesitate to contact us for further information.

About the author

To contact or read more about Lisa Denton, visit her biography here.

Find out more

Whether you are looking to invest for the first time, or have an investment portfolio already, if you don’t know where to begin, or know exactly what you are looking for, we can help. Contact your local Investec experts in Sheffield today, to discover how we can help you to fulfil your financial goals, and live life the way you want to.