Financial Life Planning explained

We’re interested in you, not your money. That’s because we understand that wealth is just a means to an end – helping you lead the life you want to live. So, how do we go about making that happen? At AKFP, we passionately believe in the power of financial life planning and its ability to help people lead more fulfilled lives.

So, what is financial life planning? Why is it important? And how does it link in with your finances? 

Life Planning is a powerful process of establishing and focusing on what really matters to you. It underpins everything we do at AKFP.

Our view is that you only get one life, so it’s important to get the most out of it. If you feel there is so much more from life you are yet to discover and experience, it may be time to dig a bit deeper into what’s stopping you.

Why do we link your financial and life plan?

Your overall sense of wellbeing is linked to your financial wellbeing – you’ll already know that! It’s not possible to feel completely secure and confident about the future if you aren’t sure your finances can support you in living the way you want.

Each area of your finances are linked too. You can’t make a change in one area, for example, in your investments, without this affecting another, perhaps your budget. Without all areas of your finances working in harmony, you can’t feel positive and reassured about your future.

Our approach reflects this. We look at your life and your finances as a whole. That means establishing what you want to get out of life and how optimising your finances can enable you to do that. Our clients tell us this is a far more useful way of working than the more “product focused” approach financial advice has previously limited itself to.

What does Financial Life Planning include?

What we do for each client varies according to your personal needs and set of circumstances. However, as part of our Financial Life Planning Service you will receive:

Annual planning meetings

  • In person, ideally at our office, however other options are available if required
  • Keeping your finances on a firm course to meet your future
  • Updating your circumstances
  • Reviewing your Risk Tolerance analysis
  • Discussing, setting out and reviewing your current situation
  • Discussing your new needs and objectives
  • Agreeing your new needs and objectives
  • Confirming your new needs and objectives
  • Cash flow modelling in line with your reviewed and updated needs and objectives
  • Exploring various “what-ifs” around your financial life planning.

Investment portfolio strategy

  • Building an investment risk profile, based on a Risk Tolerance analysis
  • Factoring in individual financial timescales and objectives
  • Designing a suitable asset allocation strategy with the level of risk and personal involvement to suit you
  • Portfolio design and construction to suit the agreed strategy
  • Portfolio monitoring and rebalancing, assessment, performance and annual valuation reporting.

The value of your investments can go down as well as up, so you could get back less than you invested

Pension planning

  • Pension review and consolidation
  • Advice and action to build the right pension
  • Advice and action on retirement provisions and options

Estate and tax planning

  • Inheritance Tax planning and estate evaluation
  • Advice and guidance for Trusts and Wills
  • Consideration of long-term care planning
  • Consideration of estate values and what provisions can be made within current legislative constraints.

Estate, tax planning, trusts and wills are not regulated by the Financial Conduct Authority

Family provisions

  • Co-ordinating your full financial and advisory team
  • Discussing and addressing any issues affecting your family

Priority Communication Commitment

  • Unlimited phone and email access to your Financial Planner
  • Explaining, administering and addressing all financial correspondence
  • Keeping and managing all portfolio administration
  • Financial Planner available to address all questions and portfolio/market concerns
  • Monthly eNewsletter issued

Professional Support Service

  • Providing strategic and professional updates to your accountant and any other relevant professional advisers
  • Supplying end of year tax information
  • Introducing professional practices if needed

How can we help?

We’re very happy to answer your questions. Complete the form below and one of our team will respond with an answer.

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    Important information

    AKFP Group is the trading name of AKFP Ltd which is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/). Financial Services Register No: 176477.

    The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk.

    AKFP Ltd, Registered Address: Building 2, The Sidings, Antrim Road, Lisburn, BT28 3AJ. Registered in Northern Ireland, No. NI29631.

    The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.

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