Ask a planner answers: how can a Financial Planner help?

Tuesday, June 7, 2016

The question, from Mr Baines, 64 from Norfolk

I am 64 and about to work less. I have various assets which I might use for income in my retirement:

  • State Pension x 2
  • Company pension - small
  • SIPP
  • Investments - liquid and let property.

How would a Financial Planner analyse the options and add value?

The answer, from Phil Billingham CFPTM from Perceptive Planning - an Accredited Financial Planning FirmTM

The role of a Financial Planner is to look at the lifestyle and objectives you want to have, and why. This will include factors such as health, life expectancy and  potential inheritances and other personal circumstances as well as the legacy you might wish to leave in time. Your overall risk profile will be a factor here as well.

Only then will we look at the resources – assets and pensions in this case – available. Careful analysis will show what is possible, and what is not possible. The objective will be to take as much risk and cost off the table as we can. Reducing investment and product costs helps reduce the risks that need to be taken with any assets to meet the agreed objectives.

So the value of an Independent, fee only Financial Planner will be to help you as a client focus on your objectives, and not just on the money. We understand that the client is the client, not the money. We would bring technical expertise in analysing what is required, and examining if the current structure and investment strategy is optimal, given your unique circumstances and objectives.

Phil Billingham CFPTM
Compliance and Operations Director
Perceptive Planning