What is financial planning and why is it important?


bdb - Credit: Archant

bdb is an accredited financial planning firm, founded in Harrogate in 2006, offering an alternative to the traditional financial advice model. We speak to bdb’s Managing Director, Andrew Brook-Dobson, about what you need to consider when planning your financial future.

Andrew Brook-Dobson

Andrew Brook-Dobson - Credit: Archant

Financial planning is a process of finding the right balance between living for today and living for the future. Many people live beyond their means, focusing too much on the here and now. Some people focus purely on the future and risk not being in the present and enjoying the moment. After all, the future might not always come.

Our view is that wealth is measured in time, relationships and experiences. Money can always be replaced but time is a little harder to come by. Financial planning to us is a journey, you need to know the destination, how you’d like to travel and what the most efficient route to get there is. A good life and financial planner will help you make sure that your wealth works the way that you want it to.

bdb offers an alternative to traditional financial services. Providing a holistic and client-centric service versus the product-focused advice provided by traditional wealth managers and financial advisors.

To focus solely on money and financial management, without the context of your life, can lead you in the wrong direction. It is much more beneficial to approach it as Life and Financial Planning. bdb’s team of Certified Financial Planners look at everything that contributes to each client’s needs, environment, aspirations, approach to risk, health, family and leisure. This all affects a person’s life, aspirations, goals, financial independence and ultimately happiness.

bdb’s approach is to combine your life and financial plans to explore what is possible. Whether you’d want to retire at 50, buy that property or just feel secure, bdb will help you plan a successful future, whatever that means for you.

bdb’s highly qualified Financial Planners fully assess each client’s situation. Using powerful ‘lifetime cashflow modelling’ tools, they analyse and explore finances, commitments, assets and aspirations. Forecasts are monitored to ensure continued financial security throughout your life and that your objectives are delivered. Regular updates and forward-planning meetings ensure that the financial plan is sound and that you remain on track.

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As every single one of their clients is unique and have different circumstances, bdb’s bespoke service has allowed them to build a reputation for delivering life changing financial planning to ‘time poor’, successful and discerning couples, families and individuals across the region and the United-Kingdom.

To find out more about the life planning and financial planning services bdb offers and discover their clients’ success stories, visit their website at www.bdbfinancial.com