Planning for the Future

One of the areas where we have been most busy during the pandemic has been around future planning.

While it is clearly integral to all of the long-term planning that we carry out on behalf of clients, there is no question that the seismic events of the last 18 months have led a good number of you to reflect on your work, life and family priorities.

We always tell our clients that our primary objective is not to help you save money – it is about enabling you to achieve your financial objectives both pre and post retirement.

During recent months, we have definitely noticed an uptick in clients wanting to move home, extend their current properties and purchase second homes in the UK and abroad (including as a holiday let to provide an additional income stream).

There have also been plenty of discussions around retirement options with several clients wanting to investigate potential options to either bring forward their retirement or sale of business or, in some cases, to move from full-time to part-time work.

During the crisis, the majority of us have spent more time at home, taken up new hobbies and interests and been able to reflect on the things which are most important to us. It’s also reminded us all of our own mortality which has led to an increase in the number of conversations about inheritance tax planning, wills and Lasting Power of Attorney documents.

The last year and a half has shown more than anything the importance of having a long-term, robust and diversified financial plan, which ensures that our clients weather once-in-a-generation events like the pandemic in the best possible shape.

This means that the kind of conversations outlined above take place from a position of strength and are aligned with the longer-term objectives that are built into every client’s individual plan.