Notes being taken in a planning meeting

Financial planning

Most people arrive with a workplace pension from two jobs ago, an ISA opened in a hurry one March, and a life policy bought with a mortgage in 2011 that nobody has looked at since.

Each was sensible on the day you bought it. What nobody has done since is work out what the whole lot is for, what it will pay you, what is missing and what is quietly costing you in charges.

That is the job: join them up, then keep the picture current as your life moves. Often the answer is to leave something alone. Older pensions in particular can carry guarantees that nothing on sale today comes close to.

What a plan covers

Where you stand today
Income, spending, assets and liabilities in one place, including the things you have half forgotten about.
What the money is for
The retirement you want, the house move, the school fees, the business exit. Numbers and dates attached to each of them.
Cash-flow modelling
Testing what happens if you retire three years earlier, if markets disappoint, or if you help a child with a deposit. It shows what might happen; it does not promise it.
Priorities, in order
Pension contributions, ISA allowances, protection gaps and borrowing compete for the same money. Planning decides the order.
What is missing
The gap people most often find is protection, followed by a will that predates a marriage, a divorce or a child.
Reviews that happen
At least annually, and whenever something changes. A plan written once and filed is not a plan.

Financial planning covers both regulated and unregulated areas. We will tell you which parts are regulated advice and when another professional needs to be involved.

Two people going through paperwork with an adviser

From the first call to a plan

The first conversation is about twenty minutes. You tell us what is on your mind and we tell you honestly whether we can help.

The health check that follows is free and structured: we gather what you already hold, work out what it is really doing, and give you a written picture of where you stand. That summary is yours to keep whatever you decide.

  • Recommendations in plain English, with the cost stated in pounds before you decide.
  • A named adviser who keeps your file and knows your history.
  • An annual review, and an earlier one whenever your circumstances move.
The six steps in full →

Questions people ask us

What does financial advice cost?

The first conversation and the health check are free. After that it depends on the work. Some advice is paid for by a fee, some by commission from a provider (on mortgages and protection, for example), and ongoing advice is usually a percentage of the assets we look after.

Whichever applies, you get the amount in pounds and a choice before anything happens.

Do I need a lot of money for this to be worth doing?

No. A large part of this work is for people with a couple of pensions, a mortgage and a family to protect. How complicated your situation is matters more than how big it is.

Should I consolidate my old pensions?

Sometimes. Consolidation can cut charges and make a plan much easier to manage. But older schemes can carry guaranteed annuity rates, protected tax-free cash or enhanced benefits worth considerably more than the convenience of tidying up.

We check every scheme before recommending anything, and we say so plainly when the answer is to leave it alone.

What if I already have an adviser?

Then a second opinion is the useful thing. A free health check will tell you whether your current arrangements stack up. If they do, we will say so, and you will have spent an hour.

Will you work with my accountant or solicitor?

Yes, with your consent. Buzz has its own accountants and solicitors and we work with other firms' too, whichever keeps the relationship you already value.

Answered in full

Longer answers to the questions that come up most on this subject.

How much do I need to retire?

There is no universal number. What the figure actually depends on, and how to work out yours.

Read the answer →

Start with a free conversation.

Tell us what is on your mind: a pension you have lost track of, a fixed rate ending, a will you keep meaning to write. We will tell you honestly whether we can help.