The Comprehensive Financial Plan

Typically contains:

1. An introduction to the principles and practice of financial planning and wealth management.
2. A detailed list of Clients’ capital assets and liabilities.
3. A Net Worth statement.
4. An analysis of Client’s capital, broken down into the various asset classes and risk categories.
5. An analysis of his/her cash outflows as between different categories of expenditure.
6. An Income Tax computation with a calculation of net spendable income per year, per month and per week.
7. Recommendations for legal tax avoidance.
8. Lifelong cash flow forecasts to determine on stated assumptions to what extent there is a danger of running out of money (and when) or, if there is no such danger, the extent to which it should be possible to increase personal expenditure and/or gifts to family members.
9. Recommendations for switches between investment funds, usually at nil cost and without triggering tax liabilities.
10. Guidance on what to do when property or investment values increase or fall significantly.
11. An analysis of potential Inheritance Tax liabilities, with recommendations for tax minimisation and estate planning, review of Wills.
12. An analysis of existing ivestments, including assessment of Attitude to Risk (ATR) and subsequent measurement of existing portfolio against that suggested by ATR.
13. An analysis of existing life assurance, critical illness, income protections and medical insurance.
14. An analysis of existing pension plans, with regard to charges, fund performance and projection of future benefits. Also any preserved Final Salary schemes and State Pension.
15. Details of Clients’ professional advisers, wills, powers of attorney and similar data which is helpful not only to Clients but also (potentially) to their executors and trustees, and
16. Details of the recommendations and actions related to the planned achievement of objectives.

Financial Plans are tailored to Clients’ individual circumstances and can be a significant aid to self organisation and financial planning. Many clients comment positively on the helpful discipline of the ongoing services and review processes.