Life Stages
Progression years
As an established professional income builds to a point where affairs grow in complexity and help is needed. Perhaps coinciding with kids and a big mortgage, life is full throttle! With future career success to capture, it is a time to set foundations, build resilience and get organised.
An hour’s meeting is hugely informative to sense check your current set up, and to gauge whether further value could be added by a specialist. Click here to get in touch.
Key need areas in this phase are typically investment and pension, protection and mortgage advice, all of which sit within our areas of expertise.
As a professional in the midst of your career, financial planning can often be a sporadic endeavour. Fleetingly appearing at the top of the in-tray when it must, squeezed in amongst life’s other competing demands. It perhaps, has yet to take on the sharper focus it will in years to come, and besides you’re busy!
Balancing these demands is often a subtle affair, however the impact of your choices is not. They attract a compound effect from today to your retirement. Relatively small adjustments can lead to big changes in your financial wellbeing. Proactive action is required to capture opportunity and minimise potential risks. As a busy professional, it is easy to be ‘unknowingly wasteful’ – indeed it is often the default position.
At this stage in your career, there tends to be several competing demands. Such as renovating a home, or meeting school fees – financial planning will not always be top of the queue. It is a time to set foundations whilst keeping one eye to the future. We will help to guide you on whether you are doing enough now to support your retirement, or whether you are relying too heavily on your later career.
Below are areas we help our professional clients to work through when building their plan.
1. Your earnings potential in the coming years is exceptionally high, this potential requires protection. Your income will fund daily life, clear your debt, and build your assets for the future. Health is a tangible risk you can easily insure against, and at a relatively low cost. We will work with you to agree a sensible level of cover, considering your existing provision. A well considered insurance plan underpins your wealth management strategy and introduces financial resilience.
2. At this stage of your career, your financial assets should be in place by design, not evolution. We build an overarching strategy which is optimised for tax and incorporates your debt, investments and pension holdings. Strategy brings clarity and leads to better decisions. We ensure that your pension contracts are fit for purpose, and you are investing in the best solutions, at a suitable level of risk.
3. It is common to build ‘a collection’ of accounts over the years, which is constraining from an administrative and investment management perspective. Typically, it is best to seek investment diversification within a contract, not through a collection of them. We will get you organised, and your assets aligned to your objectives and preferences.
4. With a plan in place, and foundations set, our Ongoing Advice Service introduces a repeatable rhythm to review and manage your finances every year. It prevents your affairs drifting in an unmanaged state, and opportunity being missed as time goes by.
5. Life, and your career will always be subject to change, as will legislation and the investment landscape. Financial wellbeing therefore, is a habit, attained through a consistent approach over a lifetime. Kellands Professionals ensure that you navigate change and continue to effectively manage your money throughout your career to enjoy a fulfilling and financially secure life..
6. Working with an adviser who specialises in your world adds enormous value. We are proud advocates of financial advice, particularly for professionals. Financial planning is important, but rarely urgent – get in touch to see how we can help you.
