Bluebond Estate Planning
Bluebond Inheritance Tax Planning
Bluebond Property Tax Planning

The Difference Between Financial Planning and Financial Advice

The Difference between financial advice and financial planning

Financial advice generally relates to advice on financial products and financial planning deals with achieving your goals and ambitions via the use of a written financial plan which is regularly updated and adjusted to take into account your change in view and circumstances. Basically financial planning helps you understand just why you need have and pay for your financial plans and policies.

Good financial advice will almost always incorporate an element of financial planning for all our millionaire clients.

In our view getting advice before planning is really a case of putting the cart before the horse. We would even take that analogy one step further.

Think of it this way:

  • Financial advice is the cart
  • Financial planning is the horse
  • Life planning is the driver

Therefore the best way to deal with the 3 aspects is this:

  1. Life planning comes first – basically the process helps you to discover and your adviser to understand what you want from life and why you want it
  2. Once we have agreed your objectives and goals and most importantly the reasons why we move on the financial planning process
  3. Once the plan is agreed we start working towards the implementation of that plan which is when financial advice comes in

What if I only wish to deal with one particular aspect of my finances at present?

We find this in most cases and are happy to work with you on a fee based financial advice basis on your inheritance tax planning or estate planning and then see if you wish to take up our Life planning and Financial planning services once you fully appreciate the level of service we provide.

Still confused?

Call us on 01582 447069 or Email us your questions.

Get Connected!
Facebook     Twitter