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 Personal Financial Planning

Financial Planning Report

Following an Initial Meeting, usually the next step in our road to providing you with a complete Financial Planning solution to your needs and requirements is for us to write a Financial Planning Report.  This is because we believe that proper and relevant recommendations and solutions to your needs can only be found if the whole of your circumstances are taken into account.

Our Advisers are all Independent which means that we give the best advice for you.

The aim of this Report is to consider where you are, to summarise what you want to achieve and to make recommendations as to what you should do to realise your dreams and reduce your fears.

The Report is usually divided into sections:

  • Introduction
  • Current Circumstances;
  • Observations & Objectives
  • Attitude to Risk
  • Quickview of Recommendations
  • Detailed Recommendations

The cost of the Financial Planning Report will be discussed in the Initial Meeting and confirmed to you in the letter following our meeting.  This cost will only be incurred if you confirm that you want to go ahead with the Report and payment will be required once the Report is finalised and sent to you. 

The Report usually covers:

The Financial Conduct Authority does not regulate Will writing and Taxation and Trust advice.

Current policies will be reviewed to see if they are still suitable and cost effective, and we will recommend whether you should continue with them or replace them.

Alternatives strategies will be recommended where appropriate.

Whatever the recommendations in the Report, if documentation is required to take these forward, this will usually be sent with the Report.  We will make sure that this is partially completed for you and an additional meeting and/or telephone conversation are frequently held to assist with the finalisation of any documentation.

You are under no obligation to follow any of the recommendations that we make – once you have paid for the Report it is yours to keep.  However, we usually find that most of our recommendations are taken up.

There is also usually the opportunity to meet with the Adviser again once you have received the Report.  This means that you can talk through the recommendations and ask any questions you might have before you take the recommendations forward.

Where polices are subsequently established as a result of our recommendations, we will ensure that the policies are established as quickly and as smoothly as possible.

 Links

Client Testimonials

These are some of the comments that we have received over the past few months:
  • ‘ Mr Pocock, a big thank you to yourself and Guy Campbell for the comprehensive financial plan you have both kindly prepared for me. The figures certainly made interesting reading. I appreciate all your efforts and I feel more at ease on future financial matters.’
  • ‘The team at Ward Williams have been fantastic. Cliff has always made me feel confidence that he and the team understand my needs, my situation and where I want to be in the future.’
  • ‘Very pleased with the level of service I receive.’
  • ‘Cliff is always professional and well prepared for the meetings. He provides valuable advice and guidance.’
  • ‘I have always found the advice very helpful and provides considerable reassurance.’
  • ‘I have consistently over a period of years received excellent and balanced guidance. I always considered the advice was in my best interest and this has proven so to be.’
  • ‘I have every confidence in the service and advice provided by the Ward Williams team in respect of financial planning. Their patience and willingness to explain things in "layman's terms" is much appreciated. ’
  • ‘ Your friendly, patient, courteous, professional advice was appreciated far more than you will ever realise.’
  • ‘I consider my adviser team to have a very good understanding of my circumstances and respond very helpfully at all times.’
  • ‘I have always been satisfied with my adviser’s advise. Every detail explained in terms I can understand.’
  • ‘Congratulations on reaching this milestone. Everyone who has been involved with the development of the company will be justly proud of what has been achieved in ten years. Thank you for the commemorative gifts which will be permanent reminders of the occasion.’
  • ‘I wish you an enjoyable and successful evening and congratulations on your 10 years of business. As a personal note I thank you for your expert guidance over the years, this has given me great assurance in my financial security in my now later life.’
  • ‘Thanks for all your advice and help. It has been a great comfort to know you are there to talk to.’
  • ‘Would have no hesitation in recommending WW to anyone.’
  • ‘All I can say is that if I were not happy I would go elsewhere. and I have been with W.W for a long time.’
  • ‘I feel safe in the hands of my advisor.’
  • ‘Everybody at Ward Williams are always so helpful and professional.’
  • ‘Happy to recommend further.’
  • ‘Always had clear, concise and useful support from Cliff and his staff.’
  • ‘Jolly fine chaps. Thank you’

 Independent Advice

Why choose an Independent Financial Adviser?

Independent Financial Advisers (IFAs) are rightly proud of their Independent status and they are easily identifiable by the IFA logo found in the bottom right-hand corner of this page.

In essence, Independent Financial Advisers have NO TIES with, or any commitments to any of the providers of the arrangements that might be recommended to you. An Independent Adviser is committed and obliged, by nature of his or her regulated status, to give you advice sourced from the whole market and not from a few chosen providers.

We, at Ward Williams Financial Services Ltd, strongly believe that Independent advice is the best advice that you can get. This is the only way you can be sure that the adviser you are dealing with has your best interests in mind when advice is given. It is the only way, also of ensuring that you have the best options available when you come to pay for the advice.

All advisers are personally regulated by the Financial Conduct Authority (FCA) and it is possible for an adviser to be regulated in three ways:

When you receive advice from a Tied Adviser, he or she can only make recommendations that relate to the provider to whom they are tied. This result is that it limits the choice of provider to one. The product recommended will be the product only of that provider and, it will not necessarily be the most suitable/most cost effective/best performing/most flexible. It will just be the product offered by that provider. Many high-street banks, building societies and life insurance companies with direct sales teams operate this way.

A multi-tied adviser has links with more than one company so in theory can offer greater choice. However, there is no guarantee that there is more choice – they may just use different providers for different products – for example, they may use one company for life assurance but a different company for pensions. In this way, and for a particular product, they are similar to a Tied Adviser.

A Tied Adviser matches a client to a product rather than a product to a client.

An Independent Financial Adviser, however, works hard to understand the client, their circumstances, their needs, hopes, fears and dreams. In order to help them, a particular product, such as life assurance, may be suitable. In the case of the IFA, they will then research the whole market to find the, most suitable and most cost effective product undertake from the whole market that best fulfils the clients’ requirements.

All advisers will seek to be remunerated for the work that they do. All advisers have to set out how they are going to charge, and how much they are going to charge in advance of providing advice.

IFAs are the only advisers who MUST give you the option of paying for this advice by way of fee rather than commission. This means that they offer more flexibility on how they charge for their services.

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