Very few professional roles that are more misunderstood than that of a financial planner. 

For example, people often confuse financial planners with financial advisors. First and foremost, an advisors job is to help you manage your money. They advise you principally on your investments. Indeed, many advisors refer to themselves as investment advisors. 

Financial Planning however, is about far more than that. Fundamentally, it's not about money at all.

It's about you, your aspirations, your priorities and your circumstances.

A planner begins by identifying your life goals and assessing how these objectives relate to your finances.

Planners assist in providing a clear overview of your financial situation.

• Do you want to carry on working? 
• What do you value most? 
• What does your ideal future look like?
• How would you like to spend your time? 
• What have you always dreamt of doing? 

A financial planner will help you to establish your priorities for your future and produce a plan to help you live the life you want to lead. Then, and only then will they devise a suitable strategy that will help you achieve your unique aspirations and goals. 

These are all vital questions to consider. Because life is so hectic, many of us don't take time to think about them. 

Another misconception is that financial planners and advisors have unique market insights.

As useful as that would be sadly, it is not the case. What a good financial planner does have is a thorough understanding of how the financial markets work and how to maximise the expected return for the level of risk you take that will generally entail using low cost solutions that aim to capture the market return. 

A planner will also get to know your personality and to recognise the particular behavioural biases that each of us is prone to. Over the years they will need to reassure you during periods of market volatility and prevent you doing things that put your plan in jeopardy.

Again, though, it isn't just about investing. A financial planner will also help you with for example insurances, tax, estate and succession planning. Most important of all, they will work with you to help you, reviewing your progress along the way to ensure you fulfil your most important aspirations.

Can you manage without a financial planner?

The answer is that you probably can. A good financial planner can help you reach your goals. Most of our clients said they wish they had come to us sooner, regardless of whether they'd previously worked with an adviser.  

If you would like a clearer understanding of your retirement outlook, we would be pleased to discuss your vision for the future with you.