Like all things in life, to achieve an objective it is important to have a plan. For most people, financial security and independence is a core ambition and objective.
The way to achieve this is to gradually move from a reliance on ‘earned’ income to the enjoyment of ‘unearned’ income. Whatever your level of wealth, this is achievable, it is simply up to you to identify the level of income that you need.
The role of an IFA is to use his experience to provide the plan to reach your objective, and to apply some common sense to your expectations.
The government has a vested interest in helping individuals achieve financial independence and provide a legal and regulatory framework to help and incentivise us all to save. This may be through the use of pensions, ISAs, business property relief and a host of other tax incentives to encourage us.
The IFAs role is to make sure you are aware of your entitlements and their independent status means that they work directly for you and have no other agenda or pay master influencing their behaviour. Their sole objective is to provide you with the best possible outcome within the constraints of your budget and your tolerance for risk.
Today we receive financial information from a myriad of sources; inevitably human nature dictates that whilst we know financial planning is important it is rarely a priority and with too much choice paralysis and inaction is invariably the consequence.
A good IFA has the knowledge and experience to identify the problem and prepare an informed solution and, importantly, is paid for by you. Therefore, they have the time and expertise to implement the required solutions.
A properly regulated and responsible firm understands risk and the needs of its clients. They are available to both implement and monitor a plan and to make changes where necessary.
Ellisons Financial Planning is a joint venture between Ellisons Solicitors and Matthew Douglas IFAs. This is an integration of 250 years’ experience of providing legal advice with a nationally recognised IFA which has been operating in Colchester for 12 years and has recently been recognised by ‘New Model Adviser’ Magazine as one of the Top 100 IFA firms in the UK.
Both companies share a common interest in wanting to serve the needs of the local community and placing the interests of the client at the heart of everything they do.
If you would like to know if we could make a difference to your financial planning, simply ask, we do not charge to conduct reviews or to prepare recommendations. Fees are only payable once you are confident that the cost of implementing the solution is significantly lower than the cost of inaction.