Podcast - In the know
Welcome to our podcast series, titled In the know, where our expert team talk through important financial planning and employee benefit topics.
The purpose of this podcast is to help you understand why everyone is financially unique, what your relationship with money is and how this is influenced. We hope that by making these discussions accessible, you are able to make more informed decisions moving forward.
Throughout this series, our discussions will feature many of our expert team, trusted professionals from other disciplines, as well as other featured guests.
Episodes 1 – 7
The first episodes of our podcast series focus on our ‘7 Concepts of Financial Planning‘.
Episode 1 – Concept 1 (You)
Everyone is financially unique and financial planning needs to be tailored to you.
You are financially unique – how your assets have been accumulated, where they are held and what you want to do with them is unique to you. Your objectives, attitudes, preferences and timescales will also be unique.
Episode 1 - Concept 1 (You)
Episode 2 – Concept 2 (How much)
Understand how much money you need and whether you have enough.
Knowing the amount of assets you will need to meet your requirements, objectives and aspirations over the course of your lifetime and after you are deceased enables you to understand where you currently are in relation to this and how to plan accordingly.
Concept 2 - How much
How much time do you want to spend managing your assets and are they currently organised to reflect this?
Managing your assets/wealth takes time, knowledge and expertise. How much time you spend will be determined by where your assets are held and how involved you are and want to be in their management…
Concept 3 – Time and expertise
Episode 4 – Concept 4 (Tax)
Understanding how your various assets are taxed and whether these could be better organised to reduce the tax you pay.
Tax can have a significant impact on the value and longevity of your assets over time. By organising these within mainstream tax allowances you can minimise the amount of tax you pay and protect the value of your assets.
Concept 4 – Tax
Episode 5 – Concept 5 (Assets)
In what form are the assets that make up your wealth held and does this reflect your needs, attitudes and preferences.
How your assets are held and managed will determine the cost to you, the tax you pay, the level of risk/volatility you experience and the returns you achieve.
Concept 5 – Assets
Episode 6 – Concept 6 (Protect)
How are your financial plans impacted by your premature demise or illness?
You are at most risk during the period you are accumulating the level of assets you need to provide for the financial plans of you and your family. These risks can generally be insured to protect your financial plans.
Concept 6 - Protect
Episode 7 – Concept 7 (Keep on track)
Managing your finances, assets and financial planning is a continual process that takes into account changes in your life and the world around you.
Ensure you undertake regular reviews of your financial planning arrangements and the organisation
and performance of your assets to ensure these are performing as required, making changes where
Concept 7 - Keep on track
Get in touch
If you have any questions related to the content in these broadcasts, or should you wish to discuss your current financial planning circumstances, do get in touch with our expert team today by calling 01603 706 820 or by emailing email@example.com.
For more useful information, fact sheets, guides and our latest blog posts, do visit our resource centre.