Financial advice you can trust in Oxfordshire

 
Independent financial advice is a road map for your future. It will help to put your mind at ease, as well as ensure your long-term financial and life planning goals are achieved.

A common misconception is that only those who have a substantial amount of money will seek help from a financial advisor. The truth is that financial advice is suitable for anyone who wants to get to grips with their current circumstances. It’s especially useful for people who don’t have the time or resources to plan on their own.

Financial planning could help you save for your dream home, make smart investments, and secure a suitable amount to see you through retirement comfortably.

Here’s a look at the process of financial planning and how Expert Wealth Management can help build your unique financial planning report.

1. Set goals

Setting goals and committing them to paper makes them far more tangible. Your long-term goals should be your priority, but making smaller ones can help the goal to see more realistic. It can sometimes be easier to tick off smaller steps on a checklist to reach the overall goal.

You should consider how realistic your goals are. Think about applying the SMART goal method – ensuring your goals are specific, measurable, achievable, realistic and timebound – so you don’t end up overwhelmed and out of your depth.

Assets and liabilities

To understand how you can proceed in your financial journey, you’ll need to make a note of all your assets and liabilities.

Assets include your home, car, investments, savings and other items you own. Liabilities include any debts, such as credit cards, personal loans, and your mortgage. You’ll also need to consider things such as student and car loans. This is especially important if you’re hoping to consolidate debt, rearrange investments, or sell your home.

2. Current position

Taking stock of your current financial position is imperative. You need to have a full understanding of where you are now, in order to move forward in a productive manner.

You should look into every corner of your finances to understand your spending patterns and outgoings. It can be easy to overlook certain aspects of your finances in such a fast-paced world.

Work, family, and social commitments can take precedent. This section of the plan gives you the opportunity to delve into your historical and present financial position.

Your plan

The planning stage is where it all comes together. All of your prior research will help you immensely at this stage. It’s during this time that you’ll be able to make actionable steps to follow in the coming months and years.

Drawing up a plan is a daunting task, which is why seeking professional advice can be extremely beneficial.

3. Implementation

Now you’ve got a plan of action in place, it’s time to make the changes necessary to make it work.

You may need to make significant changes to succeed. Everyone handles change in their own way, but the important thing is to ensure you stick to the guidelines that you set out.

Stay flexible

Life has a way of throwing curve balls at you, so it’s best to schedule regular check-ins to enable you to make any additional changes as necessary. Make sure you do this at least once per year, so you can make the appropriate adjustments to keep you on track.

Expert Wealth Management

Like many, you may not have the time or knowledge to take on this task yourself. Although it’s possible to make a financial plan on your own, without professional guidance you may find it won’t work out as successfully as you’d hoped.

As one of Oxfordshire’s leading independent financial advisors we will develop a plan for you based on your unique set of circumstances. We’ll prioritise the right areas, gather and analyse appropriate data, and evaluate it on your behalf. After we’ve done this, you’ll be presented with a comprehensive financial master plan, so you know exactly where you’re going.

Financial planning is an continuous process. Ongoing meetings give you the security and the confidence that you’re on track while strengthening our understanding of your circumstances and goals for the best possible chance of success.

If you’re seeking independent financial advice in or around Oxfordshire, call Expert Wealth Management today on 01993 772 467 or contact us online.