Your Goals & Personalised Plan
Where can your finances take you?
Clear goals are essential in any financial planning approach. They don’t have to be complex, but it is important to understand why you are working hard, and what you are working towards to help you stay on track over the years.
Understanding your goals.
Clear goals are essential in any financial planning approach. They don’t have to be complex, but it is important to understand why you are working hard, and what you are working towards to help you stay on track over the years.
Some clients find it very difficult to set goals. Don’t worry, you can develop them over time.
Holistic planning
The goals we help achieve are extremely varied. That is why our advice is holistic, to be as flexible as needed.
Each goal is considered both as a standalone element, as well as part of a greater plan encompassing all of your goals and objectives.
Equally, our advice recommendations are then built to meet both individual needs and the overall objectives.
Manage your goals
Some shortfalls are set by your circumstances, and some are defined by your goals.
Keep your targets simple, quantifiable and prioritise what is important to you.
A personalised plan
- based on your goals.
Each client receives a simple cashflow plan as part of their onboarding as a client. Each year this is updated and reviewed. This allows you to visualise and measure your shortfalls and the progress we make towards filling them.
What is cashflow planning?
Your Adviser will manage the inflow and outflow of cash for a client by using a tool called a cashflow plan.
A cashflow plan is a financial planning and forecasting tool that helps your Adviser track potential income, allocate the budget properly and plan for changes in income or expenses.
What data does your Adviser need from you?
Your Adviser will gather all the information through standard fact finding to prepare your onboarding cashflow model.
Objectives
The amount needed to fund any objectives or goals you have for the future. Most often this is an amount per year for retirement.
Income
The amount generated from all income sources in your household, monthly.
Provision
The valuations of any current provision you have in place, such as ISAs, Cash, Pensions, other Investments or Property.
Known changes
Details of any known upcoming changes to your finances, such as lump sum costs or changes to the level of your income or expenditure.
Expenses
The sum of your monthly outgoings.
The Financial Conduct Authority does not regulate cashflow modelling.
Curious about your journey with us?
What will your financial advice journey look like?
The first initial steps of any financial journey starts with a good adviser. Read more about what your journey could look like.
Why choose Westminster Wealth Management?
Through our rich and long history, we have developed tailored expertise of the highest quality. Read more about us and our core values.
Want to hear more? Get in touch today.
We want to hear from you! Let’s start your journey towards achieving your financial dreams.