Financial Health and Wellbeing

Designing a long-term plan for your financial wellbeing is not unlike designing a fitness plan for your physical health.

You could create your own physical fitness plan and implement this yourself or, alternatively, you could work with a personal trainer. In the same manner, you could try and tackle your own financial planning or consult an expert financial planner.

The success you could expect to see with your fitness coach would depend on the attention they give to all of your physical attributes. If they were to leave out a muscle group, for example, you could end up with an unbalanced plan. Before long, you would see the result that not paying attention to all the muscle groups would have; for example, when some gym bunnies have perfect V-shaped torsos but tiny little legs.

At DWB Wealth Consultancy LLP, we pay great attention to all of our clients’ financial muscle groups, in respect of wealth management, wealth preservation, wealth transfer and even tax planning. What’s often missed, however, is the strength of a client’s financial core. This involves financial protection in the shape of insurance. In relation to your physical wellbeing, a weak core results in susceptibility to pain, an inability to deal with shock, and general bad posture. In a financial sense, having a weak core can equal a lack of stability to your overall financial plan.

To achieve financial core strength, we place equal importance on your life insurance and income protection cover. These give your financial plan the ability to deal with shocks and future pain. They will, for example, allow you to repay debt as well as look after your family when you're no longer around. They will create a legacy for your family and, if you own a business, they will ensure it produces the money you would want your family to have should the worst happen. In short, insurance provides financial protection and ensures your plan has the stability and resilience you need.

DWB Wealth Consultancy LLP is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products