News & Views

When to Engage with a Financial Planner

Financial Planner

In the ever-changing landscape of personal finance, the question of when to involve a financial planner is crucial. Whether you’re focused on saving, mastering spending habits, or considering later life, understanding the optimal time to engage with a financial planner can significantly impact your financial well-being.

Financial planning v’s Financial advice

Financial planning is an emerging profession, and it differs from financial advice.

The Chartered Institute for Securities & Investment (CISI) defines financial planning as a “professional service for individuals, their families, and businesses, who need objective assistance in organising their financial affairs to achieve their financial and lifestyle objectives more readily”.

I prefer to refer to financial planning as wealth planning and firmly believe it requires an integrated approach and incorporates three key elements:

  1. Life planning (defining your purpose and goals);
  2. Financial planning strategies (e.g. lifetime financial forecasts); and
  3. Financial advice (sourcing and recommending financial products and investments).

Mapping Financial Success: Wells Gibson’s Three-Stage Approach to Client Collaboration

In the initial phases of collaborating with a new client, Wells Gibson organises our client’s life journey into three distinct stages, mapping them out on a timeline. These stages encompass the saving years, spending years, and later life years. Regardless of the current stage the client is in, Wells Gibson’s approach involves assuming the client will live until the age of 100. The rationale behind this assumption is simple: not knowing the exact lifespan, Wells Gibson prefers to err on the side of caution. After all, as the adage goes, it’s better to run out of life than to run out of money!

Starting with Savings

Embarking on a savings journey is an ideal moment to connect with a financial planner. They can help set clear goals, devise a tailored savings strategy, and provide insights on investment options. Early engagement ensures a solid foundation for your financial future.

Mastering Spending Habits

As you progress in your career and personal life, managing spending becomes pivotal. A financial planner can guide you in creating a budget, optimising expenses, and building a sustainable financial lifestyle. Seeking their expertise during this stage can prevent common pitfalls and promote financial discipline.

Planning for Later Life

Whether you’re approaching retirement or planning for later life, engaging a financial planner is essential. They specialise in optimising pension accounts, guiding decisions on contributions, withdrawals, and overall strategies for a secure and well-planned retirement. This opportune time allows them to assist in crafting an estate plan and navigating investment strategies aligned with your later-life goals.

Remember, the right time is when you’re ready to take control of your financial journey. In every stage, a financial planner acts as a compass, helping you navigate towards a secure and prosperous financial future.

Designing your Financial Future

WealthSpan™ is Wells Gibson’s personal wealth planning service, uniquely designed to bring together all aspects of your life so that you have full clarity, contentment, and certainty around your financial future.

Key Questions Addressed by WealthSpan™

  • How much is enough?
  • Can we afford private education?
  • How much do I need to sell my business for?
  • Can we afford to retire now?
  • How much can we afford to withdraw from our pensions and investments?
  • Can we afford to give to our children?

Tackling Financial Threats

  • The foremost challenges: inflation and the risk of outliving your money.
  • Prioritising life over financial concerns, emphasising the importance of running out of life rather than running out of money.

The Role of a Trusted Financial Planner

  • Genuine care for you, your loved ones, and your unique financial goals.
  • Committed to securing your financial future.

Wells Gibson’s Second-Opinion Service

Wells Gibson offer a complimentary offering to help you make informed decisions.

What We Offer:

  • Discovery Meeting: Define your future goals in a one-on-one Discovery Meeting.
  • Second Opinion: Receive an expert evaluation of your current financial position.
  • Tailored Guidance: Address areas needing attention and explore how our services can positively impact your financial well-being.

Why Choose Us:

  • Lifelong Relationship: We believe in a lifelong, relationship-driven financial journey.
  • Right Fit: If we’re not the right fit for you, we’ll recommend an alternative firm.

How to Get Started

Book your Second-Opinion Service without charge or obligation. Contact us at +44 (0)1382 722 989 or

Take the first step towards financial confidence with Wells Gibson. Your trusted source for a thorough financial assessment.