A Guide to Financial Planning

For most, the start of the New Year brings resolutions and a common promise for many is to achieve a newfound era of good financial planning. Whether this involves saving money or planning for retirement, Acumen Financial offers a guide to financial planning, helping you to keep your resolution well beyond 2017.

Importance of financial planning

Here at Acumen, we believe good financial planning is extremely important and creating a financial plan is a large part of that. A good financial plan should never be underestimated, as it allows you to feel in control of both your finances and your future in general.

However, for many, financial planning can seem like a daunting task. Without guidance from finance professionals it may be difficult to get your financial plan off the ground. Here are five tips to keep your plans on track.

5 steps to good financial planning

1. Get organised

By organising all your finances, including monthly payments, savings and borrowings, you will get a better understanding of your current financial situation. This is extremely useful when you begin to focus on targeted areas. While most financial matters are intertwined, it can be useful to see which areas let you down in terms of bad finance and, if necessary, you can seek advice on isolated matters, such as pension plans. Acumen Financial are on hand to provide advice on a range of financial areas.

2. Plan ahead

Whether retirement is a distant thought or looming on the horizon, there is no time like the present to strengthen your pension forecast. Choosing a pension plan that is right for you is vital. As expert pension planners, Acumen can analyse your financial situation and recommend the most beneficial pension plan that is specific to you and your circumstances.

3. Worthwhile investments

While investments can be a great way to grow your money, it is important to understand the risks and establish your objectives from the outset. The aim of an investment is usually to grow your money, to provide an income or achieve a targeted capital. Before you decide to invest, make sure you speak to one of Acumen’s investment managers, who will provide a detailed understanding of the nature and level of your investment.

4. Talk to Acumen

If you come to speak to Acumen about financial planning, we will make the effort to get to understand your financial situation. By providing us with historical financial data, and a current financial plan, our team will equip you with a brand new, transparent financial plan, tailored to your spending and saving habits.

5. Consider a Wrap Service

With an Acumen wrap account, you can access all of your investments in a financial ‘holdall’. This service allows you to see how your finances are performing, make further investments and, if you wish, your accountant can view a consolidated statement. For more information on our wrap service, speak to us today.

To discuss your financial planning needs with one of our dedicated team, please contact us today on 0151 520 4353 or email [email protected].