top of page
  • Schofield

What is the role of financial planners in financial planning?

The role of financial planners can vary depending on the industry they are involved in. Financial planners work with people and businesses to create financial plans and help reassess those financial plans and goals.

As an individual, there are many times when a financial planner may be beneficial. At each stage in your life, you may seek advice and assistance from a financial planner to enable you to reach your financial goals.

Here at Schofield, we work with people to help them reach their financial targets as well as enable them to understand their financial situation. Understanding the role of financial planners can enable you to truly understand your financial needs and who you should direct your questions.

What is a financial planner?

Simply put, a financial planner is a fully qualified financial adviser who practices in the financial services industry. They can work in a variety of settings, particularly with financial brokers and within banks and building societies.

What does a financial planner do?

A financial planner will work with people to help them assess their financial status and help guide them in creating financial plans. A financial planner will look at various financial services and products which may suit their client’s needs; financial planners will then talk through the options available and help clients put the plans into action.

Financial planners need to understand the market in detail, particularly during times of financial crisis. Financial planners will then find and provide the best advice possible to suit their client’s needs. It is important for financial planners to understand their clients and their individual goals as not one plan or financial product suits all.

How does a financial planner help?

Financial planners help people in a number of ways. Particularly during major changes in people's lives. One of the main ways a financial planner can help is when people are looking to purchase a house for the first time. First-time buyers have little understanding of the process so a financial planner can help them through the stages of purchasing a house.

Another way a financial planner can help is by planning for retirement or building up your estate. They can use their knowledge of the market and products available and help clients make the right investment or find the right pension plans.

Financial planning is an important part of life. Having a financial planner who you trust and who understands your needs can make the difference between a successful financial plan and a poor financial plan. Take your time to talk to your financial planner and truly lay out your plans and goals. This way your financial planner will be able to fully understand your requirements and help guide you to the best financial plan to suit your needs.

Here at Schofield, we work with many different people across all stages of life. We begin our process with understanding your needs and wants. Our independent and chartered financial planners then look at the whole market and assess what options would be best for you, we work with you and help you make the right choice. Contact our team now to see how we can help guide you through your financial planning process.

7 views0 comments
bottom of page