When it comes to improving your finances, the conventional options often boil down to either seeing a financial adviser or taking the DIY route, particularly when it comes to buying regulated investments. However, while purchasing regulated investments is a piece of the puzzle, it’s just that—a small piece. The real impact on your financial well-being often comes from comprehensive financial planning, which, interestingly enough, is not an FCA-regulated activity if no regulated products are recommended.
The Limitations of Traditional Financial Advice
Traditional financial advisers primarily focus on managing financial assets, often overlooking other critical components of your overall wealth. While this approach works for some, it doesn’t necessarily address the full spectrum of what it means to be financially secure. Financial planning is about more than just selecting the right investment products; it’s about creating a holistic strategy that considers every aspect of your life, including your human capital, the present value of your future earnings, and your intangible assets such as your skills, connections, and know-how.
Why Financial Planning is Key
Financial planning is not just about managing money; it’s about managing life. This involves setting goals, understanding your resources, and creating a strategy that aligns with your long-term vision. Many financial coaches and planners, however, still focus heavily on financial assets, missing out on the broader picture. Few consider how to optimise your human capital—your ability to earn in the future—or how to leverage your intangible assets to create opportunities.
Becoming Your Own Financial Adviser
At the Academy of Life Planning, we believe that 90% of people, 90% of the time, can effectively be their own financial adviser with the right support. This doesn’t mean you have to go it alone all the time. Instead, it means that with the right tools and knowledge, you can manage most of your financial affairs independently, only seeking out professional help during times of stress or significant life changes.
One of the best resources to help you start this journey is “Be Your Own Financial Adviser” by Jonquil Lowe. This book is packed with practical tools, tips, and insights designed to help you take control of your finances with confidence. It’s an essential read for anyone looking to navigate their financial journey without constantly relying on external advisers.
The Growing Advice Gap
Despite advancements in financial services, the “advice gap”—the disparity between those who need financial advice and those who can afford it—is not narrowing. If anything, it’s getting wider as the thresholds for receiving advice continue to increase. Many individuals find themselves under-served and under-advised, caught in a gap where traditional advice models are not financially viable for them.
How Planning My Life Bridges the Gap
Planning My Life is a pioneering service designed to bridge this gap by empowering individuals to take control of their financial future. With our advanced AI Life Planner, you can create personalised life plans that provide clarity, direction, and empowerment. For just £19 per month, members gain access to a comprehensive suite of planning resources, including tools, assessments, videos, and unlimited Q&A email support from experts like myself, Steve Conley.
Our mission at Planning My Life is to democratise financial planning, making it accessible, transparent, and empowering for everyone. We emphasise decentralisation, putting control of your data and assets back into your hands and reducing reliance on traditional financial institutions.
Conclusion: A Movement Towards Empowerment
Improving your finances is about more than just making the right investments; it’s about creating a sustainable, holistic financial strategy that encompasses all aspects of your life. By becoming your own financial adviser with the support of resources like “Be Your Own Financial Adviser” and services like Planning My Life, you can take control of your financial destiny. This is not just about achieving financial independence—it’s about aligning your financial decisions with your broader life goals, creating a fulfilling and successful life on your terms.
Join us at Planning My Life and become part of a community dedicated to shaping the future, unlocking potential, and transforming lives. It’s more than just financial planning; it’s about taking control of your entire life journey.
By aligning with the M-Power Movement, the Academy of Life Planning demonstrates its unwavering commitment to financial empowerment. This partnership enhances our mission to provide comprehensive planning services, education, and tools, enabling individuals to take control of their financial futures. We believe in fostering a fairer society where financial knowledge is accessible to all, breaking down the barriers of traditional financial services. Together, we are redefining excellence and trust in the financial planning industry. Join us in this transformative journey.
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