Financial Planning is the discipline that helps you identify your objectives, and provides a cohesive and strategic plan which aims to achieve them. We have broken our approach that we take with all clients into 7 main areas, known as our 7 circles of financial planning. This is the process we take you through when we first meet.

1. Current Financial Position

• Your current financial position is the engine that drives the whole financial plan
• Two aspects are important:
• Your monthly budget (income and outgoings)
• Your cash reserve (Emergency/Opportunity fund)

2. Protection

• Of loved ones in the event of your death or illness
• Of yourself in the event of your inability to work
• Of business assets if you are involved in a business

3. Retirement

• The planning in this area focuses on the concept of financial independence. When will you have sufficient assets so that they can start to work for you? How much income/capital is needed?

4. Investment

• To support the long term objectives of financial independence
• To monitor asset allocation with regard to risk propensity
• To review performance against the risk of obtaining that performance

5. Debt/Loans

• Concept of useful and useless debt. The former can have tax planning advantages, the latter needs converting or discharging before you save for the future

6. Tax

• Arranging all your financial affairs with the view to minimise tax. Taxes considered include Income Tax, National Insurance, Capital Gains Tax, and Corporation Tax

7. Estate Planning

• Having spent your life labouring for your wealth, planning the passage of that wealth for your chosen beneficiaries, rather than HMRC, becomes critical
• The maintenance of flexibility in your inheritance tax planning so that it helps you to be able to achieve your objectives in life
• Drafting of Wills to achieve efficiency and accuracy
• Consideration of long-term care and its interaction with inheritance tax

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances

Will writing involves the referral to a service that is separate and distinct to those offered by St. James's Place. Wills are not regulated by the Financial Conduct Authority