How Could Financial Planning Help You?

The benefits of financial planning are usually clear as day for those who have gone through the process.

But for those that never have? It can seem intimidating, opaque, and expensive.

So, how does it all work? What are the actual, tangible benefits of financial planning? And what does the process look like?


The Benefits of Financial Planning

Think about the day when you finally hang up your boots and stop working. Perhaps you have a date in your head for when you’d like that to be. Maybe you’ve sat down with a spreadsheet, crunched the numbers, and have a rough idea of how much you need saved to get there.

Well, now imagine getting there and realising you could have reached that day 5 years earlier. Or even 10.

Or perhaps you could have been much less frugal during your working years while still reaching a comfortable retirement. Or maybe you’re way off target, and needed to save more tax-efficiently throughout your career to make it work.

If only you’d had a clear picture of what you had, and exactly how far that would go in retirement. 

Good financial planning is about making sure that doesn’t happen. It’s about making sure you’re on track to get the most out of your retirement, without sacrificing the now.

And on the other side of the hill, when you’re in retirement, it’s about having the peace of mind that your plan is in place, so you don’t have to worry about money. Regardless of how much you have.

It means not worrying about:

  • Whether your pension investments are too risky
  • Whether you could run out of money
  • Whether you’re not making the most of your pension and could actually take more
  • Whether you’re paying too much tax
  • Whether you’re not leaving behind as much as you could for your family
  • And whether you’re protected in case the unexpected happens

If that still sounds vague and intangible, let’s get into the nuts and bolts of financial planning.

Our Service

Financial planning looks different for everyone, because everybody’s financial situation and goals are different. However, financial planning is usually made up of some combination of the below – the ones that fit your needs and preferences.

We can connect you to an adviser that can help with any or all of the below.


Cash Flow Planning For Retirement

A visualisation of your cash flow up to and into retirement, with ‘what if’ scenario modeling. This paints a picture of where you’re going to be at retirement, and what changes you may need to make now to improve things. 

Consolidating Pensions

If you have multiple SIPPs and pensions, get strategic advice on consolidating these into a unified plan, streamlining management, and optimising investment strategies for greater efficiency and clarity.

Investment Advice

Tailored investment advice to align your pensions and other investments with your risk tolerance, diversification needs, and long-term financial objectives.

Advice on Pension Contributions (maximising tax relief)

Specialised strategies to optimise tax benefits for your pension contributions, ensuring you’re getting the most out of your available tax relief.

Advice on Pension Drawdown

Expert advice on pension drawdown strategies, focusing on tax efficiency and determining sustainable withdrawal rates to align with your lifestyle and financial goals.

Advice on Taking Your Tax-Free Cash

Guidance on how to utilise the tax-free cash from your pension efficiently, ensuring you maximise this benefit while considering your overall retirement strategy.

Advice on Pensions Gained Through Divorce

Expertise in handling SIPPs acquired through divorce settlements, offering strategic advice to secure and manage these assets effectively within your retirement plan.

Estate Planning and Inheritance Advice

Structuring your assets to facilitate smoother inheritance and minimise tax liabilities for beneficiaries – ensuring your wealth is distributed in line with your wishes.

Regular Portfolio Reviews and Monitoring

Ongoing monitoring and periodic reviews of investment portfolios within SIPPs, ensuring they remain aligned with your evolving financial objectives and market conditions.

Long-Term Care Planning

Guidance on planning for potential long-term care needs during retirement, including considerations for care costs, insurance, and asset protection strategies.

How We Do It

“So, what’s the process?”

At SIPP Advice, we connect you with a regulated, qualified and trusted financial adviser, for free.

This means we take a look at your situation and what you need help with, and pencil you in for a free telephone call with one of our advisers suited to help you.

This is a free, no-obligation phone call to see if you’re a good fit for each other, and to explore the value that financial advice could bring to your life and finances.

Initial Meeting

If you and your adviser want to work together, they’ll arrange an initial meeting to get a better understanding of your specific circumstances and chat through what our services would look like in more detail.

They’ll generally do this via telephone, video call or in person. And again, it’s typically at no charge to you.

They’ll then outline – in writing – how they propose to work with you, the initial costs and, if applicable, the ongoing costs.

If, following this meeting, you don’t think they’re the right company for you, that’s fine! You can go your separate ways and you’ll have hopefully learned something about your financial situation during the process.  And if you do want to proceed, it’s typically from this point that they’ll charge for the work they do.

Financial Plan & Planning Meeting

Most advisers charge a fixed fee to create and present you with your financial plan based on what they are recommending.

The advisers we work with are not paid by product providers, which is good for you and them, as it means they’re not tied to their products and can stay completely independent. at SIPP Advice, we know from experience that this generally leads to better outcomes for you.

Your financial plan is designed to show your money over the long term: it highlights what aspects are on track to achieve your goals, and where you may need to change things to ensure you get there. ​

Your adviser will typically need to obtain information from other companies, such as your pension, investment or life insurance providers, and also some more information from you. They’ll also ask to you to complete a risk assessment to understand what level of investment risk you are comfortable with.

Once they have all of this information, you’ll talk again to go through your lifetime cashflow projection.

Following the meeting, you’ll usually get your financial plan as a document, which includes key snippets from your lifetime cashflow projection, accompanied by commentary and notes to explain what’s shown and ways you can improve your position.

Most advisers will charge a fixed fee for this, often half upfront before starting work, and half after you receive your financial plan. Your adviser will always discuss and agree on this fee prior to commencing any work for you.

A note on regulation:

The Financial Conduct Authority (FCA) does not regulate certain aspects of cashflow planning (your financial plan), estate planning, tax planning or trust advice.

It does however regulate all product and investment recommendations.

Recommendations & Implementation

During your planning meeting your adviser will likely have recommendations for how you can improve your position.

An example could be to save more into your pension for retirement – perhaps with the use of your previous years’ carry forward allowance. Or, it could be to increase your pension withdrawals to better suit your lifestyle, as you’re in a financially secure position to do so.

There are a range of things they may recommend. But whatever they are, they will provide clear recommendations in that meeting and explain why they’re recommending them. They can also provide these recommendations formally to you in a follow-up recommendation report.

If you agree with the recommendations and want to implement them, they will help you do this and charge the implementation and advice fee detailed in your financial plan.

How our service works.

Get in touch

Complete our form to tell us about your situation and what you need help with. It’s quick and easy to fill in.

Chat to an adviser

We’ll pencil you in for a free, no-obligation call with a qualified and regulated financial adviser we trust, that’s best to help with your situation.

Get advice

If you’re a good fit for each other, your adviser will start preparing their recommendations and outline their advice.

*All of the advisers we work with are fully qualified (Level 4 Diploma), independent, regulated by the FCA, and pass our internal service quality standards. We will never recommend an adviser that does not meet these criteria.

We do not charge you a fee for our matching service. Learn more about why our service is free.