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The End to End Financial Planning process is not
about financial products. Just because you might
happen to have a filing cabinet full of financial product
documents does not mean that you have a financial plan.
Equally, you may have no financial products at all and yet
still have a financial plan.
We
have found that many people go through life making financial
product purchases on a fairly chaotic basis, often driven by a
perceived need at a time such as buying insurance when a child
is born or when moving house. Equally common is people have
purchased because they may have been influenced through face
to face contact or direct mail campaigns
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However, financial products are just like the
bricks used to build a house. Without a coherent plan they
form a pile of rubble and not a house. To make the bricks into
a house, an architect is needed to produce the plan and then
it has to be built in a logical order, starting with the
foundations and not the top floor. The End to End financial
planning process is the equivalent of the architect, that
specifies what materials are needed. There is one significant
difference between a brick house and a financial plan - as
your circumstances change, any part of the plan can be
replaced, added to or removed all together.
The End to End Financial Planning process provides
direction and meaning to your financial decisions. It allows
you to understand how each financial decision you make affects
other areas of your finances.
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