Personal Financial Planning and Wealth Management

Personal financial planning is the corner stone of effective wealth management.

A number of steps are usually involved in the planning process.

1. Assessment – undertaking a full financial fact-find of a person’s financial situation, including assets, liabilities, income and expenditure.

2. Goals – these are essential for effective planning. Multiple short-term and long-term goals are common e.g. paying off credit card and retirement planning. Goal setting is done with an objective of meeting certain financial requirements.

3. Plan creation - The financial plan details how to accomplish the goals.

4. Execution of plan

5. Monitoring and plan review – the performance of a personal financial plan needs to be regularly monitored during its execution, the plan reviewed and adjustments made as necessary.

At Turners, we are experienced in all aspects of the personal financial planning process, and work regularly with trusted professionals such as financial advisers and solicitors to provide a total service to our personal clients.