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Merlin Financial Services Worcester

What is Financial Planning?

What is Financial Planning?

Financial planning is is an ongoing process of identifying the goals you want to achieve in life and devising a plan for your finances to help you achieve them.

It's not just about buying products like a pension or an ISA. It might involve putting appropriate wills in place to protect your family, thinking about how your family will manage without your income should you fall ill or die.

A financial planner can help with the management of your finances to ensure you are on the right track to meet your financial goals. They will assess your current financial situation and discuss the objectives you want to reach.

By evaluating your situation, a financial planner will be able to develop and implement a plan to help you reach your goals. They will also review your plan as it develops to change and update it as necessary.

Create a sound financial plan in five steps

  1. Discover : Understand your needs and goals.
  2. Analyse : Gather and Analyse financial information.
  3. Propose : Develop your financial plan and propose steps
  4. Implement: Implement your agreed financial plan.
  5. Review :Monitor and refine your plan.