The real benefits of financial planning

A very special lady once said: "Alone we can do so little, together we can do so much". Helen Keller was the first deaf-blind person to earn a BA degree. Like Helen, we take great pride in maintaining a business of partnership so clients, staff and friends of Unividual can all benefit.

The value

A professional financial planner gives you the tools and knowledge to recognise where you are now, forecasts your objectives and improves your understanding of a complicated market to ensure you have the best chance of reaching your goals.

In 2017 the International Longevity Centre published a research report called The Value of Financial Advice. It identified:

  1. Those who received financial advice from 2001 to 2007 had accumulated significantly more liquid financial assets and pension wealth than their unadvised equivalent peers.
  2. Advised people who are ‘just getting by’ accumulated, on average, 39% more in liquid financial assets and 21% more in pension wealth, totalling around £39,895.
  3. Affluent advised individuals accumulated, on average, £12,363 more in liquid financial assets, £30,882 more in pension wealth and a 16% increase in retirement income than their unadvised counterparts.
  4. Nine in ten people were satisfied with the advice.

You can find The Value of Financial advice report here (please note that by clicking this link you are departing from the regulated site of Unividual Ltd, neither Unividual nor Quilter are responsible for the accuracy of the information contained within this linked site.)


Not just about money

Whilst evidence shows that increasing and maintaining your wealth is one of the most tangible benefits of financial planning, clients benefit in seven key ways:


1. Organisation: Bringing order to your finances

2. Accountability: Following through on financial commitments

3. Objectivity: Rationalising decision-making around emotional subjects

4. Proactivity: Anticipating and preparing clients for eventualities

5. Education: Access to valuable experience, qualifications and resources

6. Partnership: Someone to listen, understand and collaborate with

7. Time: Some people would rather prioritise utilising their time on other areas like family, hobbies or work

There is a demand

Very few people just wake up randomly one day and think ‘I need a financial planner’. Ultimately, to start with someone’s needs might be:

  • To get on the housing ladder
  • To work out how to happily retire, living a similar if not more adventurous lifestyle
  • Help making critical monetary decisions when receiving large bonuses or inheritance
  • Protecting dependents from risks
  • Providing a legacy for the next generation
  • Growing and sustaining a successful business which will contribute to wealth in later life

Choose the best source of advice for you

There are various outlets that can provide you with the level of financial help you need. As well as financial planning there are price comparison websites, government-run advice services, product providers, banks, charities, specialist brokers and product-specific salespeople such as mortgage advisers. However like many of us, you may have come to a realisation that you don’t have the time, experience, knowledge, skills or expertise to design a successful financial plan. Or you might be worrying about making the wrong decisions. If you are at this point it could be a good time to find a financial planner you can build a long-term relationship with. Find a professional you can rely on, someone who is capable of advising you across all areas of your finances for the rest of your life and will provide you with value for money.


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