Personal Financial Planning: Importance

Personal Financial Planning: Importance

Financial planning is not the same as financial advice. It is not a recommendation to purchase a particular product but an evolving action plan, regularly reviewed to ensure that your goals are met.

The process involves gathering relevant financial information, setting life goals, examining your current financial status and coming up with a strategy or plan on how you can meet your goals given your current and projected situation.

In practice this strategy will utilize available tax allowances, target liquid assets into appropriate vehicles, ensure your investments are structured correctly and managed professionally. Having created a plan you will be able to understand how each decision you make affects other areas of your finances and you can consider the short and long term effects on your goals. You can also adapt more easily to life changes and feel more secure that your goals are on track.

However, the true objective of financial planning is to ensure that this strategy is not neglected and its value is not diminished. Only through regular reviews can you ensure that you remain on track to meet your goals and maximize new ideas and opportunities.

What Does We Believe?

The achievement of our client's long term goals is a measure of our success. We create winning strategies through a set of firmly held beliefs.

Our beliefs:

Needs drive the investment process

It is your needs, aspirations and concerns that must determine your financial and investment strategy. We cannot and will not force predetermined products and investments on you. Instead we will tailor-make a strategic financial plan to meet your goals and objectives.

Strategy comes first—products come second

Experience has shown that simply purchasing financial products is not a recipe to financial well-being. It is important that all assets and arrangements complement each other within a co-ordinated strategy designed to meet specific goals.

Understanding risk is key

At the heart of investment management is one core truth: the relationship between risk and reward. There are many different investments and each one offers a different balance between risk and reward. Rowan's investment practice ensures investors understand risk and the opportunities it can provide.

Diversification reduces uncertainty

Investors can reduce their potential for loss by investing in a basket of different asset classes and markets. Equally, by adopting a multi-layered planning strategy we can seek to reduce the risk of future legislative and taxation changes.

There is no substitute for thorough research

In-depth research and analysis has never been more important. We focus our attention on each fund manager's investment beliefs, the application of these beliefs in practice, the track record of the fund and its likely future performance. The research is intensive and in addition to the analysis of the fund performance this also involves detailed interviews with fund managers.