Financial Planning

Financial Planning, or life planning as it also known, is an ongoing process designed to help you make decisions regarding your overall wealth that can help you achieve your life goals.

Financial advice could be seen as the purchasing of a specific financial product, such as a pension or an ISA, whereas Financial Planning looks at the bigger picture, the complete jigsaw, with the products becoming pieces of the puzzle.

We follow a 6 stage process when helping clients formulate their financial plan:

Step 1 - Determine the current financial situation

We meet together to discuss your current personal and financial situation. We'll go into detail so that we can draw up a complete picture of where you are now, and where you want to be. We'll ask about you, your occupation, your savings and investments, your mortgage, your current liabilities and your tax position. We will use this information to gain an understanding of your personal circumstances, which in turn, will help us formulate your plan.

Step 2 - Develop your financial goals

Next we discuss your objectives and your aspirations, as well as any concerns that you may have. We will discuss your attitude to investment risk and reward, using this feedback to formulate your investment portfolio.

Step 3 - Analyse your current position

We will discuss our initial analysis of your current position and outline where any potential remedial action needs to be taken for you to achieve your goals.

Step 4 - Construct a plan

So now we know where you are and where you want to be. The next step is to formulate your own personal financial plan, which shows you how to achieve your goals. We discuss with you your current income and expenditure, your assets and liabilities, and how your existing finances can be best utilised towards the achievement of your financial goals.

Step 5 - Implement your financial plan

It's time to implement the plan. Every course of action we have recommended and agreed with you is now put into motion.

Step 6 - Review the plan moving forward?

As required we will schedule annual review meetings to discuss your plans and establish what action, if any, needs to be taken to ensure you remain on track to meet your stated objectives.

Transactional Advice Service

We also offer a transactional advice service for clients with less complex needs, or those seeking advice on a specific issue.

RVW WealthCare Ltd

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