What next? And where to invest? 

July 18, 2018

Cheryl Marshall, Chartered financial planner at Punter Southall Financial Management, reflects on the importance of busy business owners to find time for personal financial planning

So you have been busy motoring along, managing a business and looking after the interests of others: your clients, employees, board members, key stakeholders, or all of those mentioned and more.

But have you been looking after your own financial future as diligently? Despite all your years of hard work, taking meticulous care of your own business and career, not all senior business people, professionals, or entrepreneurs can say: ‘ I have a financial plan which needs to be achieved within a set time frame, and even less have a plan on how best to get there’.

This is a very common scenario. Many of my initial conversations with new clients are purely about ‘what do I do next?’. If you’re concerned about preserving the wealth you’ve built up, utilising it efficiently, and providing a legacy for your family or future generations, but you lack a definitive and coherent plan, this is precisely where I’m able to help and advise.

It would be important first and foremost to discuss what your objectives are and which ones are the most critical to be addressed. This is where I could really help you to prioritise what is achievable and realistic.

We discuss where you are now, and what you already have which you can put towards your goals. We see how close you are to achieving your aims and objectives and find areas that perhaps require a bit more focus and attention.

I look for the answers to a lot of questions. How strong and secure are the plans for retirement, business succession, long term care or inheritance tax planning? Is income or capital growth the priority, or is it a mixture of both? We look at your tax position, not only as it is now but what it’s likely to be in the future, and we diligently examine whether you’re currently making use of all available tax allowances.

We talk about your understanding of investment risk, and what level you would be comfortable with moving forward. We then combine this with the important measure of your capacity to sustain any potential losses.

On that basis I can develop a comprehensive plan to cultivate, maintain, protect, and further grow your assets and investments. What is also important is that the plan is kept fluid to take into account the many changes that will happen over your and your family’s lifetimes. A good robust plan should be helpful in case of unforeseen events and not just provide for the more predictable and routine times.

But most importantly of all, throughout this process I act as a trusted adviser. I aim to remove financial uncertainties for my clients and try to ensure they’re fully knowledgeable and comfortable with what’s happening with their money.

At Punter Southall Financial Management, we are skilled in helping our clients to plan for better financial futures. If you’d like to know more about how we can help you grow and protect your financial future, please call me for a chat.

Punter Southall Financial Management
0191 341 0698

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