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It’s the start of a new year, and many of us are thinking about ways to take control of our financial future. If that’s you, you might be wondering whether it’s time to get professional advice. But should you work with a financial planner or a financial adviser? Let’s unpack the difference and why working with a planner could be a game-changer.
There are plenty of reasons why people decide to seek financial advice. Maybe your circumstances have changed, or you’re tired of feeling overwhelmed by all the conflicting information online. Whatever brought you to this point, meeting with a professional is a great first step.
When you sit down with a financial adviser, the process often starts with a fact-finding questionnaire. They’ll ask about your savings, investments, pensions – all the key details. While this information is crucial, too often it’s just used to spot gaps in your portfolio, like unused ISA or pension allowances. This approach might solve immediate issues, but it’s not always focused on the bigger picture.
Here’s the issue: without a long-term plan, it’s easy to lose your way when the economy takes a downturn. You might feel pressured to change course, sometimes at a loss. Short-term fixes can feel satisfying in the moment, but they often fail to address the bigger picture – your financial future.
Humans aren’t naturally wired to think far ahead. Our brains tend to focus on the next three to five years, which makes it hard to plan for something decades away. But the truth is, many financial choices you make today will shape your future security. Instead of chasing the next hot investment tip, the real questions to ask are:
This is where financial planning makes all the difference.
A financial planner does more than just look at your current situation. We’re here to help you figure out your vision and values. What’s most important to you? Maybe it’s maintaining your lifestyle, achieving financial independence, or leaving a legacy. Whatever it is, we’ll work with you to turn those goals into a plan.
We start by creating a timeline – a roadmap – that goes from where you are now to age 100. Why 100? It’s a safeguard to make sure you don’t run out of money before you run out of life. Along that timeline, we’ll mark key milestones like when you want to be financially independent. We’ll also look at what you’ve already achieved and what’s still ahead.
Read our article on The Difference Between Financial Planners and Financial Advisers.
One of the most powerful tools in financial planning is cashflow modelling. It gives you a clear picture of whether you’re on track to meet your goals. Many people find this process a real eye-opener. For the first time, they can see:
With this insight, you’re in the driver’s seat. You can make decisions that align with your long-term vision instead of reacting to short-term challenges.
Listen to our podcast on Cashflow Modelling.
Life is unpredictable, and your financial plan needs to adapt as things change. Whether it’s a shift in your personal circumstances or a wobble in the economy, a financial planner ensures that every piece of your plan – pensions, ISAs, investments – works towards your long-term goals. This flexibility is key to staying on course.
Here’s a big difference between planners and some advisers: our focus is on the planning process, not selling financial products. Our fees cover the time and expertise it takes to create and present your plan, not a percentage of your investments. That means our priority is helping you achieve your goals, not pushing products.
Working with a financial planner changes how you think about your finances. Instead of chasing quick fixes or the latest investment trend, you’ll have a clear plan that’s tailored to your life and your goals. You’ll feel confident making decisions, knowing they’re part of a bigger picture.
So, if your New Year’s resolution is to take charge of your financial future, why not explore the lasting value of financial planning? It’s not just advice; it’s a roadmap to the life you want.
Watch our short animation explaining exactly What Happens When You Work With a Financial Planner.
ABOUT YELLOWTAIL
Founded by Dennis Hall, Yellowtail are the trusted financial planners who advise affluent individuals & families in the South West and across the UK. Yellowtail’s experts provide the clarity, control and confidence to guide you through financial planning, estate planning, pension transfers and investment management directing your journey towards a prosperous retirement and financial peace of mind.
