What is Financial Planning and Why It Matters
What is Financial
Planning?
#
FPWUK
What is Financial Planning Week?
A week, hosted by the CISI, dedicated to
improving
the nation’s financial fitness.
This campaign aims to raise awareness of
how important financial planning is to your
life. It's not just for people who have never
thought about their finances, it’s for
everyone, whatever your situation
“It doesn’t take much to get financially organised. You owe it to yourself to
get started on the right track in life. Getting expert advice with the right sign-
posting from an expert will save you hours of your time and relieve the
weight off your shoulders. There’s a bank of qualified advisers prepared to
help you and avoid the ‘Big Mistake’. What are you waiting for? ”
Craig Palfrey CFP
TM
Chartered MCSI, Penguin Wealth
Let’s do financial planning
•
What is financial planning?
•
How does it differ from financial advice?
•
What to do when seeking advice
What is financial planning?
Financial Planning is an ongoing
process to help you make
sensible decisions about money
that can help you achieve
your goals in life
It’s a six step process…
•
What are your goals in life, in short,
medium
and
long term?
•
Can you prioritise them?
•
What is the likely cost of those goals and when
you need the money?
Plan your finances for the future you want
Let’s do some financial planning….
1.
What is important to you financially?
•
Short, longer term
2.
Do you know how much you spend every month?
Questions to think about…
1.
If you knew you had 5 years to live
what would you do differently
today?
2.
If you knew had 12 months to live
what would you do differently
today?
3.
If you had less than 12 months to
live…?
10 questions to ask when seeking financial advice
1.
What are your qualifications?
2.
What experience do you have?
3.
What services do you offer?
4.
What is your approach to financial planning?
5.
Will you be the only person working with me?
6.
How will I pay for your services?
7.
How much do you typically charge?
8.
How are you regulated?
9.
How often do you review my situation?
10.
Can I have it in writing?
It’s your future, your financial plan
cisi.org/fpweek
Join in the conversation
#FPWUK @CISI
@CISIWayfinder
@the_cisi
View tips, resources and guides at cisi.org/wayfinder
Financial Planning is an ongoing process that helps individuals make informed decisions about their money to achieve their life goals. It involves steps like establishing goals, gathering data, developing a plan, implementing it, and regularly reviewing and monitoring progress. By planning your finances for short, medium, and long terms, you can prioritize your goals and understand the costs involved. Expert advice plays a crucial role in getting financially organized and avoiding common mistakes. Financial Planning Week, hosted by CISI, aims to raise awareness about the importance of financial planning for everyone, regardless of their financial situation.
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Presentation Transcript
What is Financial Planning? #FPWUK
What is Financial Planning Week? A week, hosted by the CISI, dedicated to improvingthe nation s financial fitness. This campaign aims to raise awareness of how important financial planning is to your life. It's not just for people who have never thought about their finances, it s for everyone, whatever your situation Your competitive edge
It doesnt take much to get financially organised. You owe it to yourself to get started on the right track in life. Getting expert advice with the right sign- posting from an expert will save you hours of your time and relieve the weight off your shoulders. There s a bank of qualified advisers prepared to help you and avoid the Big Mistake . What are you waiting for? Craig Palfrey CFPTM Chartered MCSI, Penguin Wealth Your competitive edge
Lets do financial planning What is financial planning? How does it differ from financial advice? What to do when seeking advice Your competitive edge
What is financial planning? Financial Planning is an ongoing process to help you make sensible decisions about money that can help you achieve your goals in life Your competitive edge
Its a six step process 1. Establish your goals 6. Monitor and regularly review 2. Gather data 5. 2. Evaluate your current position Implement your plan 4. Develop a plan Your competitive edge
Plan your finances for the future you want What are your goals in life, in short, medium and long term? Can you prioritise them? What is the likely cost of those goals and when you need the money? Your competitive edge
Lets do some financial planning. 1. What is important to you financially? Short, longer term 2. Do you know how much you spend every month? Your competitive edge
Questions to think about If you knew you had 5 years to live what would you do differently today? If you knew had 12 months to live what would you do differently today? If you had less than 12 months to live ? 1. 2. 3. Your competitive edge
10 questions to ask when seeking financial advice 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. What are your qualifications? What experience do you have? What services do you offer? What is your approach to financial planning? Will you be the only person working with me? How will I pay for your services? How much do you typically charge? How are you regulated? How often do you review my situation? Can I have it in writing? Your competitive edge
cisi.org/fpweek Your competitive edge
View tips, resources and guides at cisi.org/wayfinder Join in the conversation #FPWUK @CISI @CISIWayfinder @the_cisi Your competitive edge
