Why should I seek financial advice if I can do it myself?

You might be wondering why you need a financial planner when you can manage your finances yourself. We all cherish the feeling of empowerment, believing that we understand our needs better than anyone else. However, the areas explored by a financial planner are critical:

1.  Longevity & Independence

This is all about protecting your future self, thinking about how much you need to invest now to achieve what you want to achieve in the future and/or for retirement. These are some thoughts that can put us off from dealing with our finances as it seems so far away and complex. However, it CAN be an enjoyable conversation. Whether this is looking at the different arrangements you have available, if your financial plan is appropriate for your needs or providing a snapshot of what your investments and pensions can potentially look like in the future. Of course there is the importance of investment sustainability, your attitude to risk and your considerations for investing ethically or not.

2. Positivity & Wellbeing

Financial advice is not about one person dictating the conversation. At the end of the day, YOU need to feel safe and comfortable. It does not matter how much money you have in your pocket, if you do not feel safe or you are not doing the right things for you and/or your family, you will feel stressed around money matters. These stresses we can subconsciously and unintentionally pass down to our children and grandchildren too. A financial planner will provide you with tools and knowledge so that you feel empowered and part of the conversation.

3. Cautiousness

At Eastern Horizon Wealth Management, our extensive experience and expertise enable us to assist individuals with every aspect of their business and personal finances.  Whether you require assistance with specialist insurance, protection, life cover, pensions, savings, or investments, you can rely on us to ensure all areas align harmoniously towards your financial goals.

4. Cleverness

At Eastern Horizon Wealth Management we are proud to say that we like to geek things up! Whether this is making sure that you are utilising all your tax allowances or computing formulas and providing options to make sure that you are in the best position that you can be financially. When it comes to educating and communicating to clients though we do not use jargon or technical language. Our goal with every client is to ensure they understand all their options and have the power to choose what they want to do with their financial plan with our guidance and support along the way. To achieve this you will have lots of questions you feel are silly or irrelevant and you will be encouraged to ask them so we can discuss everything out loud. This again reduces anxiety around your financial plan.

5. Protection

We are all guilty when it comes to protection and covering ourselves from risks, whether this is making sure that you have enough rainy day money or having the appropriate life assurance policies in place. A financial planner will guide you through a simple process of looking at what risks you have around you that could impact on your financial plan.  Although it might not be considered as the most exciting part of your finances, to us it is the most important. Whether this is protecting your mortgage liability, family income or inheritance tax. Individuals and businesses who do not have this in place work hard to build up savings to find one day that pot depleted in an emergency. This not only puts your future at risk but that of your children, grandchildren or loved ones, whoever is set to inherit your estate. Insurance aims to protect your savings and keeps your plan on track at times when you may not have an income.

There is no get rich quick

Financial planning isn't about quick riches but rather about providing peace of mind, reducing stress, and securing your future. You can navigate this journey independently or enlist the support of a professional who will be there for you when you need assistance the most, much like a trusted family member or friend.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.  You may get back less than you invested.