A guide to financial planning

A guide to financial planning

The Power to change lives - A practitioner guide to Financial Planning

We are delighted to launch our new guide to Financial Planning. Developed by leading practitioner members of our Financial Planning Practitioner Panel, chaired by PFS President Sharon Sutton.

A few months ago Personal Finance Society President Sharon Sutton agreed to chair a new practitioner panel focused on financial planning. The objective of the panel is for established practitioners to share good practice and insights from the development of their own financial planning businesses, and in particular, the skills and techniques that add value for their clients.

Sharon's own quest was initially inspired by George Kinder speaking at a Personal Finance Society conference. But she acknowledges that it takes a lot of courage, practice and news skills to make the successful transition. The rewards for her business have been increased turnover and profit, not to mention longer-term clients and more referrals.

As Dennis Hall says: "Convincing someone they need Financial Planning (compared to whatever it was they came to see you about) can be challenging." But when you see the feedback you can understand why he makes the effort; one client remarked “It’s a comfort to know that someone is looking at everything and can see our bigger picture – we value that aspect of the relationship more than the investment returns”

The panel is made up of leading financial planning practitioners who have generously committed their time to help share their skills and experiences with members. We are also grateful to many other financial planning practitioners who have also made contributions and provided case studies for the guide itself, which we launched at our recent Festival of Financial Planning. Steve Gazzard and marketing specialist Carrie Bendall have been working with the panel to help prioritise and drive initiatives. You can download A Guide to Financial Planning at thepfs.org/good-practice.

  • Sharon Sutton, Thornton Chartered Financial Planners (Chair)
  • Jane Hodges, Money Honey Financial Planning (Vice Chair)
  • Julie Lord - Magenta Financial Planning
  • Damien Rylett - Brunel Capital Partners
  • Neil Bailey - Fortitude Financial Planning
  • Garry Hale - HK Wealth
  • Adam Carolan - Xentum
  • Adrian Quick - HarperLees
  • Gemma Siddle - Eldon Financial Planning
  • Brendan O’Ciobhain - Phoenix Wealth Management
  • Simon Thomas - Tenet Group
  • Anthony Villis - First Wealth 

The guide covers a range of financial planning topics; it looks at purpose, some existing processes and gives guidance on proposition. Practitioners discuss the importance of coaching and listening skills and the guide overviews different phases in the financial planning process, such as discovery and lifetime cash flow planning.

Practitioners drill down into the essential aspect of client experience and there are real client testimonials to demonstrate the potential, and often life changing, impact that financial planning can have on clients. The guide has a section that helps with defining and marketing service propositions and suggests the top ten qualities of good financial planners.

As Personal Finance Society CEO, Keith Richards, say in his introduction "The purpose of this guide is not to say that any one method or approach is right or wrong. Nor is it to dictate a particular process. Our objective is simply to widen awareness of a range of potentially useful techniques and tools that might help you and your clients achieve your ultimate goals." As our market continues to change and evolve to meet the needs of new generations of consumers, so must our role in delivering the best possible consumer outcomes.

The practitioner panel will meet regularly to guide the Personal Finance Society in developing tools, resources and events that members will find useful.

Festival Programme

Please note, all times and locations are subject to change. To build your own personal schedule using the Personal Planner tool, simply book onto the event, then visit your My Events and click ‘View event details’, or download the PFS Events app and view the Festival programme there. Please note that the planner tool is purely to help delegates plan their attendance - there is no requirement to add any session to your personal schedule in order to attend.