Planning for your financial future, much like building a business, takes time and patience. To have a fruitful and enjoyable life, it is better to plan early so that you can use all the financial planning opportunities available to you, at the right time in life.
Building a solid financial plan isn’t easy to do on your own – and that’s where financial advice comes in.
By engaging with an adviser early on, you can gain real clarity over your future finances and the steps you need to take to boost your financial resilience.
How much do you need for your future?
Whether you’re considering an early retirement, paying for your children’s education, or making gifts to loved ones, the first step is to understand whether you’re on track to meet your goals.
By using information about you and your finances, cashflow modelling enables your adviser to build a full picture of your life and give a projection of how long your money could last.
Once the initial picture has been built, your adviser can show the effect of, for example, saving more, working longer, or passing on more wealth to loved ones.
Cashflow modelling is especially relevant for business owners. If you’re considering a sale, for example, it can help you understand how much money you’re likely to need from the sale to meet your immediate and longer-term objectives.
Making the most of your money
Once you’ve determined your goals and the steps you need to take to achieve them, the next stage is building a tax-efficient investment portfolio that ensures you’re making the most of your money.
The earlier you invest, the longer your money has to potentially grow, helping you to reach your goals more quickly.
A key priority for many business owners is how and when to pass down wealth to the next generation.
Discussing your estate and succession plans early on gives you the greatest chance of making a meaningful difference to your family’s future. It also provides the opportunity to mitigate or reduce any inheritance tax (IHT) liability – something that has become even more important amid soaring house prices and freezing of the IHT nil-rate bands until 2026.
Work with someone you trust
An adviser will be there at every stage of your journey, helping to build, execute and review your financial plans – so it’s vital you know and trust them.
At Brewin Dolphin, we form close and long-lasting relationships with our clients, guiding them through their changing circumstances and offering peace of mind that they can enjoy life today without worrying about running out of money tomorrow.
The value of investments, and any income from them, can fall and you may get back less than you invested. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. Information is provided only as an example and is not a recommendation to pursue a particular strategy. Opinions expressed in this publication are not necessarily the views held throughout Brewin Dolphin Ltd.
Brewin Dolphin Limited is a member of the London Stock Exchange. Brewin Dolphin Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register reference number 124444). Registered Office; 12 Smithfield Street, London, EC1A 9BD. Registered in England and Wales – company number: 2135876.
Vat number: GB 690 8994 69. Brewin Dolphin Limited GIIN: 6J5L79.00000.LE.826.