6 steps to successful financial planning by Alex Herbert

by prestigewealthsolutions

Step 1 – It’s all about You

Financial planning begins with you – what have you done so far (financially speaking), where are you today and what are your future aspirations?

Step 2 – Resource?Check!

What resources do you have to work with? What are your income streams, outgoing commitments and current assets? Armed with this information you can check the feasibility of your aspirations and adjust accordingly.

Step 3 – Your financial plan

It’s at this stage that a strategy can be devised to help get you where you want to be. As with each of these steps, you may find it beneficial to work with a wealth planner – and that’s where PWS can help.

Step 4 – The stress test

Life is all about changes. But what if your circumstances take a turn for the worse? Whether tax legislation becomes more restrictive, or your income reduces unexpectedly, a successful financial plan will be flexible enough to adapt along the way.

Step 5 – Execution

You’ve assessed your situation, put goals in place and devised a plan. You’re now ready for action.

Step 6 – Review, review, review

Regularly reviewing your plan with an adviser will ensure your expectations are met and goals achieved. The review process at PWS is professional and exacting – and it’s thanks to this process that plans are kept on course and ultimately succeed. Perhaps that’s why so many clients are happy to refer us.

PWS is a firm of independent financial advisers. We provide highly personalised wealth management solutions to a rapidly growing number of private and corporate clients. Whether you need trust and fiduciary services, pension transfer and management, or an open architecture investment platform, PWS offers the ultimate in expertise and high quality service.

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