What is Financial Planning?
Financial planning is about more than just numbers—it's about helping you live the life you want. No matter your current situation, a well-crafted financial plan gives you the confidence to navigate life's big decisions, from buying a home, to planning for retirement, to ensuring a comfortable future for your loved ones.
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At the Academy of Life Planning, we don’t just help you with the technicalities. We’re here to empower you, providing holistic support that ensures you are confident, prepared, and in control of your financial future. Our approach centres on your goals, not just products or investments. Together, we’ll create a plan that reflects your values and aspirations.
Financial Planning vs Financial Advice: What’s the Difference?
While both financial advisers and financial planners help with your finances, their approach differs.
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Financial Adviser: Typically focuses on specific financial products, offering tailored advice on what you should do in certain financial situations.
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Financial Planner: Takes a broader view of your life, helping you create a comprehensive plan that covers every aspect of your finances—from savings to retirement, estate planning, and everything in between.
How Financial Planning Works
Financial planning is a structured process that covers all aspects of your finances and life goals. Here’s how we work with you:
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Understanding You: We start by getting to know you—your life, your values, and your dreams. We explore what you want your future to look like.
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Setting Goals: Together, we help you establish clear financial goals, whether it's early retirement, starting a business, or providing for your family.
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Building Your Plan: We create a holistic financial plan that addresses your assets, income, liabilities, and future goals. Your plan will be unique, just like you.
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Taking Action: We guide you on implementing your plan, making sure you're on the right path. We empower you with the knowledge and tools to confidently make decisions.
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Regular Check-ins: Life changes, and so should your financial plan. We'll help you review your plan regularly, making adjustments when necessary to keep you on track.
What Can We Help You With?
Our financial planning services are comprehensive, covering all areas of your financial life. We provide guidance on:
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Achieving financial independence
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Starting or growing a business
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Exploring new career opportunities
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Tax-efficient investing
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Retirement and pension planning
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Inheritance and estate planning
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Budgeting, saving, and more
Whatever your financial goals, we’re here to help you create a plan that fits your unique needs.
Why Choose the Academy of Life Planning?
At the Academy of Life Planning, we’re here to guide you on your financial journey, ensuring that you feel empowered every step of the way. We are not just financial planners—we are your trusted partners, providing you with the knowledge and tools to take control of your financial future. We don't give product specific advice; we give you the power to make informed decisions.
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We help you be your own financial adviser.
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By choosing us, you’re not just getting a financial plan; you’re gaining a partner who is dedicated to helping you achieve lasting success and wellbeing.
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But what exactly is financial planning, and how does it differ from financial advice? Let’s clarify that below.
Financial Adviser
A financial adviser is someone whose main job is to provide advice on specific financial products. Their role is typically focused on telling clients which specific product to buy in various situations, whether it’s choosing a pension, an investment product, or another financial service.
Expertise:
They possess specialised knowledge in financial products and markets.
Advice:
They provide tailored advice on specific financial products.
Decision-making:
Advisers make recommendations, but clients retain final control.
Legal Liability:
Advisers are accountable for the advice they offer under financial regulation.
Professional Service:
They are paid for their advisory services usually based on a percentage of the product purchased, creating a formal client-adviser relationship.
Product Limitation:
Their advice often focuses on specific products, meaning options may be limited to what their firm offers or what’s best for them.
Financial Planner
A financial planner is different. Rather than providing specific advice, a financial planner helps you create a broader, more comprehensive plan that covers all areas of your financial life. They focus on empowering you to make the right decisions, giving you the tools to create a plan that works for your unique goals.
Expertise:
They understand all aspects of financial well-being, from investments to life goals.
Planning:
Together, you’ll create a tailored plan that helps you achieve your financial aspirations.
Client Decision-making:
You stay in control; the planner supports you in making decisions.
Comprehensive Approach:
Your plan covers every financial area—assets, liabilities, income, expenses, and beyond.
Neutrality:
We explain the consequences of all your options without influencing your decision. The choice is yours.
Legal Liability:
Since planners don't sell specific products, they don't face the same regulations as advisers.
Professional Service:
We are paid for planning services on a fixed fee or hourly basis, creating a formal client-planner relationship.
Methodology:
Financial planners use a structured approach to develop detailed plans, including projections and alternative strategies.
We are Financial Planners
Ready to take control of your financial future? Reach out to us today, and let’s start building a plan that works for you. Whether you’re preparing for retirement, planning for your family’s future, or looking to grow your wealth, we’re here to guide you.
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Let's clarify the distinction between a financial adviser and a financial planner.
Financial Adviser: Provides specific advice and recommendations on a limited range of financial products, and carries legal liability for their professional opinions.
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Financial Planner: Helps clients create a comprehensive financial plan, where the client makes decisions based on neutral, unbiased information provided by the planner. The planner facilitates the process but does not provide product specific advice or give opinions. The information must be factually correct.
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Where financial planning is done by a financial adviser, then the financial planning becomes part of the financial advice.
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Download the Financial Life Coach "Rule Book" for detail on how this works in practice.
Ready to Start Planning?
Whether you're looking for peace of mind, clarity, or just a better understanding of your financial options, we are here to help. Take that first step towards financial freedom today.
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Disclaimer: The Academy of Life Planning provides education and guidance on financial planning matters. We do not provide specific advice on financial products or services. Our financial planners do not give specific product advice. For regulated product guidance, please seek a financial adviser.