Most people work hard to build up wealth over their lifetimes: they then expect it to work for them. However, managing your finances can be stressful – and, if you are not an expert, risky too.

For these reasons, it makes sense to consider the services of a Wealth Planner. As well as taking away effort and worry, building a long-term relationship with a regulated financial adviser can help clients feel financially secure, confident and independent as they work towards achieving their financial goals.

Hazel Scarff, Associate Wealth Planner at Succession Wealth, says that the benefits of having a trusted professional involved in your financial affairs are numerous.

“Taking advantage of a robust, personalised plan put in place by someone who has invested time in understanding you and your unique situation can be invaluable”, she says. “It really helps to guide you through different stages in their life.”

In effect, Ms Scarff says, the relationship becomes a partnership. “By actively taking part in discussing or writing down your financial goals, you are taking the first step towards achieving them.

“As your life progresses, you will experience events that might result in you considering changes that may be needed to your personal and financial situation. Being able to discuss these considerations with a Wealth Planner can help you feel more in control of your situation.”

Interestingly, receiving this kind of professional financial support can actually boost personal and emotional wellbeing. “It makes you feel better about your money and yourself, especially in times of crisis. And it allows you to plan the life you want to live with the aim of achieving your financial ambitions. People sometimes think that the main role of a planner or financial advisor is to provide you with products and manage your investments, and that’s it. But it really does go beyond that in terms of a relationship.

“Our services expand beyond financial advice, we support our clients through different emotionally stretching points in their life as we believe that financial wellbeing is a vital element in achieving a good quality of life, alongside your physical and mental health. Successfully navigating the world of personal finance can be really confusing and people have a natural tendency to avoid what they don’t understand or find risky. That can result in mismanagement of their finances.

“For instance, the Covid pandemic led to a lot of uncertainty in the markets. We had discussions with clients, guiding them through why it wasn’t a good time to remove their money from the markets. People might have made quite bad decisions if they hadn’t had someone to turn to for that reassurance.”

It is important, she adds, to know clients well and to keep abreast of their financial circumstances. “A big part of what we do is to hold a financial review with people annually. It’s amazing what can change in a year and we may identify different needs that they may not have thought about. That advice can prove to be invaluable.”

The company can also help provide support when it comes to challenging matters such as tax planning. “If you are thinking about making a big financial decision, we can talk you through the implications of that and help keep you informed.

“Of course, at the budget, the rules change every year, and part of our job is to understand those changes and to help our clients gain knowledge on what they mean for them. We work closely with professionals such as accountants and solicitors to ensure that other elements of their financial situation are working well and tie in with what we are doing.”

Well considered and specialist advice is particularly important when people are preparing for retirement: large sums of money may be involved and the rules can be complex. Remarkably, fewer than one in six people in the UK take advice on the subject. (Unbiased, One in six over-55s have no pension savings yet, December 2020).

“They might be put off by how much it might cost but in the long term they will really see the value of getting support. It also means that they are likely to be more confident and less worried.”

Hazel Scarff points out that ultimately, working with clients is built on personal trust. “We are helping clients manage their money, which is so important in life because it essentially controls what you do. It becomes a friendship as much as a personal relationship.”

The content of this article was accurate at the time of writing. Whilst information is considered to be true and correct at the date of publication, changes in circumstances, regulation and legislation after the time of publication may impact on the accuracy of the article.

Succession Wealth is a trading style of Succession Wealth Management Limited, which is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 588378.

Please note, The Financial Conduct Authority does not regulate advice on Estate Planning or lifetime cash flow planning.


Succession Wealth Management Ltd is registered in England at Drake Building, 15 Davy Road, Plymouth Science Park, Derriford, Plymouth, PL6 8BY: Registered Number: 07882611