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Financial Planning & Advice

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Industry Overview

What is financial planning & advice?

The last thing that individuals and companies want to do in the world of finance is lose money. You only have to look at the recession to see the kinds of severe consequences social, political and economic factors can have on businesses and lives. This is where the financial planning and advice comes in.

Through close discussions with their clients, financial planners and advisors establish their specific short-term and long-term financial objectives. They assess what is most important to them and what they can do with their money for the most secure and lucrative future possible, and then set out a plan which aims to achieve this. Financial planners and financial advisors also help people to select the right financial packages or products for their needs.

Financial planning and advice calls for a need to predict the potential risks for a client’s money, and develop financial plans to help them avoid these risks where possible and make the most out of their assets. Not an easy job! They many have to anticipate trends and developments in the economy regarding some cases. Each client’s financial situation is unique, and could involve anything from insurance and estate management to taxation, investments and even retirement issues. In fact, this industry has many crossover points with wealth management.

An excellent grip of statistics, financial models and impeccable commercial awareness is essential if you want to become a top player in financial planning and advice. Clients include individuals and companies of all sorts of types and sizes. Businesses rely on their financial planners to know the market through and through to aid them in tasks such as accurate budget compilation.

The majority of financial planners and financial advisors work for insurance companies or professional services firms. There is an opportunity to work on a freelance basis in this industry; however you’ll need to clock up a good few years’ of experience before you can go it alone.

Why is financial planning & advice important?

Both individuals and companies need to be able to call on experts to help them make the most out of the money they have. On an individual basis, people will always want to be able to invest and save money appropriately for financial security, manage debts, and perhaps even to pass down assets to younger generations of their family. Financial planning needs to be at the core of business strategy to minimise the risk of running a company running into financial difficulties.

Areas of financial planning & advice…

Financial planningThis area involves setting up financial plans for clients to help them with their investments, debt management, tax payments or retirement issues.

Financial advisoryThis is all about really listening to the client’s needs and applying expert knowledge of an industry to provide the right financial advice to help them obtain their goals.

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Financial Advisory

Providing advice to firms to help them make the best decisions possible for their business.

Financial Planning

Helping clients to plan and manage their money!

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