Independent Financial Adviser vs a Lifestyle Financial Planner
08 August 18  /  Insights

To many, Lifestyle Financial Planning is a new concept and most are more familiar with the term ‘Independent Financial Adviser’. Perhaps you have even visited an IFA to discuss your portfolio of assets.

Often, people think that a Lifestyle Financial Planner is the same as an Independent Financial Adviser, but their approaches to your finances are very different.

Let’s firstly establish what an Independent Financial Adviser is and what they do.

An IFA is the term used for an individual who will generally advise on a specific area for a client, rather than looking at the bigger picture. They usually deal with one or possibly a few areas of a clients financial circumstances, rather than everything. This would probably be a pension or investment. The relationship with the client is based almost entirely around a product or investment solution and the advice tends to focus on this area from year to year. There are many excellent IFAs, but they do differ from a Lifestyle Financial Planner, where as the name suggests, will focus on much more than the product.  

So, what is a Lifestyle Financial Planner?

At Mathews Comfort, a Lifestyle Financial Planner will not focus on a financial product but will build a tailored Lifestyle Financial plan.

To do this, we will assess your current situation in terms of income and investments, as well as your lifestyle aspects too, such as family set up, job and more. Your Lifestyle Financial Planner will research and listen, delving deep into your life, establishing your short-term and long-term financial goals and what you want to achieve in the future and why. Finding out your motivator and why you want to achieve these things is just as important to us.

Only then, once we feel completely satisfied that we know all we need to know will we devise a personal financial plan. We have the tools to visually forecast your financial future and can determine whether your goals are achievable.

Working with you, we will manage you and your finances for many years to come. We will advise you on financial products and investments, but this is just a necessity of your personal financial plan.  

With a Lifestyle Financial Planner, you will be given peace of mind and a sense of direction, knowing that your financial health is being addressed now and into the future.

We will keep you on track of your plan, offering support and eduction, advising you what actions to take next and when to simply do nothing.

A Lifestyle Financial Planner looks at the bigger picture and you will find you get much more for your money. 

To find out more, get in touch with one of our Lifestyle Financial Planners today by calling 01865 208012 or click here to email your enquiry.