Your Journey
Planning your financial future
We know you’ll have different priorities for your wealth at different points in your life. Whatever your financial aims, we have the expertise and services that can help you achieve them.
By working through a series of logical steps, your Beaufort Wealth Management Adviser will help you gain a better understanding of the options available. And by working together, we can devise and implement a suitable financial plan to target your future goals.
6 stages to help you towards your future goals
1.
Current financial situation
In the first step, your Beaufort Wealth Management Adviser will explain fully how we are paid and by whom. At the outset, we agree on how long the professional relationship should last and on how decisions will be made. It is crucial that we get to know you and determine your current financial situation with regard to income, savings, living expenses and liabilities. The financial advice planning process and its success will depend on the quality and clarity of the information communicated. Preparing a list of current assets and liabilities, balances and amounts spent for various items enables us to build a financial blueprint as a foundation for your desired goals.
2.
Defining financial goals
Next, we talk through your future goals and objectives, both in the short, medium and long term. Your Beaufort Wealth Management Adviser acts as a sounding board and explains how these will determine the creation of your financial wealth plan and provide a blueprint for your financial future. They’ll ensure that they are quantifiable, achievable and clear and have a defined time frame and, importantly, separate your needs from your wants.
3.
Current financial profile
Your Beaufort Wealth Management Adviser will then review the information provided about your current financial situation and your future goals and objectives. They use this to produce a report that reflects your current financial profile. Your attitude towards investment tolerance and capacity for risk are also assessed, and this is analysed to determine your required asset allocation for investment or pension goals.
4.
Personal financial analysis
Based on the information you have provided, your Beaufort Wealth Management Adviser will then present your financial plan and the analysis we’ve completed. Each of the goals and objectives you’ve highlighted will be addressed and a recommendation for each identified. Depending on what services you require, this could include analysing your assets, liabilities and cash flow, current insurance coverage, investments and pensions, or tax strategies.
5.
Financial plan implementation
Once the analysis and development of your plan is completed, your Beaufort Wealth Management Adviser will discuss and outline the recommended courses of action. We’ll record any agreed implementation plan and provide all the necessary documentation to support your plan. Where applicable, we’ll also coordinate the process with any other professionals such as accountants, solicitors or investment managers you may receive other advice from.
6.
Re-evaluation monitoring
Your financial plan will require ongoing re-evaluating and monitoring. Your Beaufort Wealth Management Adviser will review this at least annually with you to look at any changes in your circumstances and, if necessary, amend your plan to incorporate them. Reviews can take place more often if needed, and each meeting provides you with the opportunity to discuss any specific questions you may have now to enable your Beaufort Wealth Management Adviser to adjust recommendations, if needed, as your life changes.
Our Latest News
The future of retirement
Experiences of the past and potential future scenarios The latest research reveals a significant disparity in perceptions regarding retirement experiences of the past and potential
The cost of early withdrawal from your pension
How retirees are impacting their financial future by accessing pension pots too soon More than three-quarters (78%) of retirees have already dipped into their pension
Pension scams on the rise
Protect your savings! 7.3 million UK adults encountered an attempted scam in the past year Around 7.3 million UK adults, or one in seven, encountered