Reasons Why You Call a Financial Planner

Posted by siteadmin on Wednesday 3rd April 2019.

During the past twenty eight years since I began working in the financial services industry, I’ve experienced a range of reasons why people contact a financial planner for help.
It’s usually a change in their circumstances or an unexpected event, which stimulates people into action requesting an opportunity to explore and discuss their financial plans (or in many cases the lack of).
Below are the most common reasons why people get in touch.  This list is by no means exhaustive and on a regular basis, I see and hear new reasons that motivate people to start planning for life:-

  1. Simplification of their finances - With a myriad of ongoing legislative changes and historic products held across several companies, people often crave simplicity when it comes to their money.
  2. Children - Whether that’s planning for private education, ensuring they are fully insured to protect them if something happens or simply wanting to create a nest egg.
  3. Home improvements - Looking at their complete financial situation to see if they have the money to make the desired changes to their home.
  4. Redundancy - On many occasions people have come to me asking for help to plan what they will do following redundancy.
  5. Inheritance - Similar to the redundancy issue in the sense that a ‘windfall’ needs looking after and needs a plan to accompany it.
  6. Care - As the population lives longer, it’s important to plan for the care of loved ones and indeed ourselves.
  7. Pension Policies - When a pension policy matures, people often want to know if their money will last as long as they will.  This is regularly accompanied by people wanting to start living life more on their terms.
  8. Business - A successful business can bring with it the question of what to do with the money earned.  Again, planning helps protect this money and gives people greater peace of mind.

There’s one theme that runs through all the above and that’s a lifestyle change.  And that’s why I’m so passionate about lifestyle financial planning and the positive impact it can have on people’s lives.