How bdhSterling can help you with your financial planning

Category: Australia & News & United Kingdom

Over the last couple of years, you’ve read a whole series of articles about different aspects of financial planning, as well as different issues that could have an effect on your wealth and future plans.

In this article, we come closer to home and take you through our advice process.

Read on to find out why financial advice is so important, and how bdhSterling can help you plan your financial journey so you can face the future with confidence.

Why financial advice is important

When it comes to planning your financial future, there is clear evidence that working with an experienced financial adviser can boost the value of your assets.

Research carried out by Royal London, in association with the International Longevity Centre in 2020 showed that a particular cohort of individuals who took advice between 2004 and 2006 were £47,000 better off than those that didn’t.

Additionally, leading investment fund managers, Vanguard Asset Management have quantified the value of investment advice to be as much as 3% net returns each year.

There are also several other reasons why financial advice is so important. These include:

  • An adviser can help you avoid financial mistakes that can leave you with a big tax bill and are often irreversible.
  • An adviser can be a “second pair of eyes” to help guide you on your financial journey.
  • They can also be a valuable source of guidance around taxation and your financial affairs.

A separate major study by Royal London also highlighted the emotional and mental health benefits of working with a financial planner.

The research found that people who worked with a planner felt more in control of their finances, more financially secure and stable, and more confident about the future.

Understanding you and your financial situation

A key part of our advice process is taking the time to get to know you. It also helps if you know us, so you’ll have one dedicated adviser working with you.

Your future goals and aspirations are key to your financial plan, meaning any advice we give is always with these in mind.

While our work can be complex, at each step we aim to make it easy for you to understand. We don’t want to confuse you with technical jargon. It’s your future and your money, so it’s important you understand exactly what’s going on.

Working with you to develop a bespoke financial plan

Our experience has told us that one of the keys to successful advice is the recognition that everyone is different.

Whether it’s financial planning or investing for your future, there is no such thing as a “one-size-fits- all” solution.

When we’re helping you plan your future, we’ll ensure that the advice we give you is specific for your circumstances and objectives.

You’ll also have access to a wider team of experts beyond us. Our trusted network of international partners, including tax accountants and currency specialists, will make certain you get the best support and advice.

We have a strong presence in both Australia and the UK

One of our key unique features is our dual advisory status. That means that we’re authorised to give financial advice in both the UK and Australia.

This means that we can provide authoritative advice in both countries, backed by a wealth of experience. It also means that if you’re planning to move from one country to another, we’re at both ends of your journey.

Having a trusted partner who can provide guidance regarding your affairs in both countries can help you to avoid simple, easy to make mistakes that could prove costly.

While you’re planning your move, we can provide expertise in:

  • Providing advice before and after migrating between Australia and the UK, or vice versa
  • Dealing with other related key life transitions like retirement, selling a business or investments
  • Managing your financial assets in multiple countries
  • Retirement planning in different financial jurisdictions
  • Inheritance planning to protect your legacy for your beneficiaries.

We provide expertise to those that live in Australia or the UK and have assets in either or both.

Providing you with specialist retirement advice

One of the cornerstones of our advice proposition is helping you plan for your eventual retirement.

Pensions can be a complex subject and having pension assets in both the UK and Australia can add extra layers of complexity around issues such as taxation, drawing income and death benefits.

We have a wealth of expertise when it comes to advising you about your retirement planning.  This includes crucial topics such as:

  • Defined benefit pension evaluations
  • Overseas pension transfers
  • International pension management and financial advice.

We can also help you manage the transition between one financial authority and another.

We’re there for you on your financial journey

Advice isn’t a one-off process.

Once we’ve collaborated with you to put robust plans in place, we’ll regularly review those plans to ensure you’re still on track to achieve your goals and make changes if necessary.

One of the keys to this is using a cashflow forecasting tool that helps you plan your future. We can also use it to “war-game” various scenarios – both internal and external – to ensure your plans are fit for purpose.

Get in touch

If you’d like to find out more about the services we offer and how we can help you plan for your financial future, please get in touch with us.