When you should consider getting a chartered financial planner

Ever since 2006, the Chartered Insurance Institute has been awarding chartered financial planner (CFP) status to the most knowledgeable, committed and qualified advisors within the United Kingdom. These professionals have unmatched financial expertise and experience and provide the highest quality service to their clients. But, are these chartered financial planners’ services relevant to your financial, or even personal, needs? Here are some of the more popular situations where utilising a CFP’s advice can be invaluable to your finance’s security.


Starting your family

One of the most financially stressful times in life is your first steps towards starting a family. As reported in early 2016 in The Guardian, the average cost of raising a child now tops £230,000, with education and childcare the two largest factors towards that sum. Your family is, of course, the most important thing to you, with an endless list of options and possibilities available, and making sure you are prepared for any eventuality is paramount. Whether insurance policies or savings accounts, school fees or taxes, there are a lot of outgoings that can start or change once you begin your family, so having peace of mind that you’re financing each one the best way possible will let you enjoy just being a parent. Liaising with a CFP will ensure your plan is favourable and sound.

Launching your enterprise

Besides family, the other major element of your life which you care for and strive to help succeed is your brainchild. When getting that business up and running, there are a considerable amount of costs and investments you must make before you can even think about gaining the custom of clients. Licences, permits and accreditations are normally required one way or another, and conferring with your CFP will put you in the right direction to negotiate the financial minefield and help you traverse the legal one too. Also, while entrepreneurship affords you many freedoms, your taxes are self-assessed and a necessary burden to calculate, but one to which your CFP can extend their expertise with review services.

Leaving work behind

Whether a dream early on or not, your retirement is a crucial part of your life. While you may not have that salary each month, that influx of free time allows you the liberty to pursue new activities and interests. Establishing an investment portfolio is a popular approach to retirement, with the possibility of paying dividends, and your CFP can advise you on best practice for your ventures, such as the chartered investment management service offered by Partridge Muir & Warren.

Future generations

We all know there will come a time when your loved ones will inherit what was once yours. To alleviate the emotional stress that can occur during this time, your CFP can also be trusted to operate as the executor of your estate. They can enact your wishes to your own requests, and help ease the worries of your dearest during their bereavement.

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