Concepts of financial planning

Seven Concepts of Financial Planning

Financial planning is complex, but understanding some basic concepts and how they influence your planning can help you to take appropriate steps.


Financial planning can be a confusing matter, particularly with the variables that must be considered. However, you are able to positively influence your financial situation in the long term by proactively concentrating on certain areas. As such we have outlined seven key areas which we believe should be considered when starting this process. 

Read our fact sheet, or listen to In the know, for more information.

The concepts

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. 


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 3 – Time and expertise

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 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…

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…

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…

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…


How can we help you?

Whether you are new to financial planning or looking for a change in financial planner, we can help. Our team take the time to understand your circumstances, objectives, and aspirations before making suitable recommendations.

If you would like to discuss your financial planning requirements, or if you wish to arrange an initial no cost, no obligation, consultation, then please fill out the contact form below. Alternatively, you can call 01603 706 820 or email

Important information

The contents of this fact sheet do not constitute financial advice. The impact of taxation (and any tax relief) depends on individual circumstances. This has been prepared based on our current understanding of UK Law, Taxation and HMRC practice, all of which could be subject to change in future. 

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