22 Jul, 2018 @ 15:39
2 mins read

How healthy are your finances and can they be cured?

PAY GAP: Is closing under current forecasts
SAFE: Graeme Blyth says money management is essential life planning

By Greame Blyth, of Woodbrook

CHECK-UPS  – we dread them –  but they give us reassurance that symptoms can be dealt with and a good diagnosis can save your life.

Regular check-ups prevent fiscal heart failures, and prevention is far better than cure.
It’s always better to know the bad news, and then take action. But it need not be bad news if you take control of what your money is doing for you.

These are a few fiscal symptoms to look out for when regulating your financial cholesterol.

Reviews are Always Good News
They may not start off that way, if your investments have not been handled correctly at first, but within a first consultation with an independent advisor taking an honest approach you will be told what to do to fix this.
The need for personal financial reviews is often married with a phobia of understanding your bottom line. Those who find money issues and strategies daunting need to understand regular reviews of financial plans are as important as regular medicals.
Like any visit to a doctor, you have to keep going regularly. It’s never going to be as bad as you think. Most people leave our office relieved to have found and made a plan.

Don’t Ignore Symptoms
I don’t like delivering bad news, but sometimes I have to tell new clients just that.
Some people come to me when the illness is full blown. If you don’t keep in touch with your physical condition, or your financial condition, you run the serious risk of a nasty surprise. To give good financial advice you can’t afford to offer placebos, sugar-coated pills which solve nothing. Not knowing that things are wrong is no excuse. If you haven’t recently looked at the performance of your financial plan against its targets or haven’t adjusted your financial plans to suit your changing life circumstances, the result can be fatal!

First Consultations Should be Free
I often meet new unsuspecting customers who previously thought they were getting wealth advice elsewhere but were, in fact, being made poorer, receiving hefty fees for first consultations.
Reviews of financial plans are free of charge and don’t take long, whether you are a Woodbrook client or just want some advice. When you pay for something you don’t need to pay for, something is wrong. That is not what Woodbrook is about. We are a global firm with a reputation to uphold and protect. That comes from clients who have been helped successfully.

Latest Epidemic
So what kind of financial predicaments has there been a rise in? The latest epidemic involves many people who have transferred their UK pension out of the toxic mess of the British pension system into a QROPS or SIPP.
The Woodbrook team have prepared for this eventuality, and it’s one we see all too regularly.
Our advice is prevention rather than cure. Whether your plan has never been reviewed, or not recently reviewed, I would urge you to do something about that today, before it is too late, and your financial health is forever damaged.

*For more information, contact our team at the Woodbrook Group Office in Marbella: Av. Ricardo Soriano, 72 Edificio Golden Portal B, 1ª Planta 29601 Marbella, Málaga, Spain.
Telephone: +34 952768471
Email: [email protected]

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