Importance of ongoing reviews of your finances

The importance of having ongoing reviews as part of your financial planning

Financial Planning is key to ensuring that you will be financially secure throughout your life. It’s important to remember that a financial plan needs continued attention. You should make time to meet with your financial adviser on an ongoing basis to review your plans.

The aim of these reviews is to keep you working towards your financial goals. By doing this on a regular basis you are able to adapt to changing circumstances.

The benefits of having ongoing financial reviews

Besides the positive implications of your financial adviser staying in touch with your financial situation and long-term goals, there are other benefits to regular reviewing your financial plan.

It holds you accountable. If you know you will be meeting with your financial adviser often, you are more likely to stick to your financial plan.

Helps to avoid sticky situations. If your circumstances change and any problems crop up, you can find solutions before a hiccup turns into a big issue. This can include any changes needed in response to the economic market.

Keeps your plan relevant and effective. Life is not predictable, no one knows exactly what is around the corner. Changes can happen at any point in time and very quickly. You may become unemployed or get a big promotion. Your relationship could break down or you may welcome new additions to your family.

All of these things impact how effective your financial plan is. Regular meetings with your financial adviser will ensure adjustments are made to keep your plan relevant and on track.

How Face to Face Finance helps you and your finances

At Face to Face Finance we believe that one of the most important parts of our service are the regular reviews which we provide. During these conversations, we review your financial situation and ensure that our advice is tailored to your financial goals and objectives.

What we look at during your review meetings

Part of the review service includes fully reviewing your investment portfolio. Where appropriate, we will recommend how to rebalance your portfolio to take advantage of any updated funds and asset allocation in line with your attitude to risk outcome.

Your attitude to risk is also assessed at these meetings to ensure you are in the best position to reach your financial goals. 

Straightforward forecasting

We offer the facility of a cash flow analysis. It can take into account your pensions and/or investments, plus any other income you have, to visually show you in todays’ terms how long your funds are likely to last once you start taking your desired income.

But it’s not all about pensions. Our cashflow planning service can also help you to reach other financial goals in your life – buying a house, perhaps. The key is to revisit these goals regularly to make sure you’re still doing all the right things.

Is it time for you to arrange another meeting with your financial consultant? Get in touch with our friendly team and we’ll find a time to suit you.

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