December 4, 2023
[rt_reading_time] min read

Removing the Jargon

We have all been there before. You open your annual statement and you are instantly confronted with financial planning jargon. UFPLS this, Annuity that… Ultimately this leaves you feeling less in control of your finances, and this does not marry well with you achieving your financial objectives. At Lane Financial Management Ltd we understand the value of independent financial advice and are strong advocates of this. So apart from having someone to decode Jargon, what are the benefits of financial advice?

Financial Jargon

Objective Setting

Lets be honest, how often is it that you sit down and really take the time to think about your life and financial goals. I don’t know you from Adam, but I will take a guess and say probably not that often. As we all know, trying to navigate a ship without a heading doesn’t lead to good things. However, by sitting down with a financial adviser you will be encouraged to think about what it is you really want out of life. You will be encouraged to define your short and long term goals and this will give your ship its heading.

Avoiding Common Pitfalls

Despite thinking we are superhuman, unfortunately the majority of us are not. Life has enough plates to keep spinning without trying to keep up to date with the intricacies of the UK’s taxation system and macroeconomic conditions. Consequently, many individuals find themselves making common mistakes which can easily be fixed with the right guidance and financial oversight. Often we have conversations with clients that have not made an expression of wish for their pension. Now this is free and simple to do, but many individuals are unaware that an expression of wish not only tells the pension trustees who they wish to inherit their pension, but it can also keeps their pension outside of their estate for inheritance tax purposes. It is advice like this that can save huge amounts in tax and worry.

Financial Pitfall

Common pitfalls we come across include:

  • Ignoring budgeting: failing to stick to a budget is a common mistake which often leads to individuals living lives outside of their financial means and accumulating high interest unsecured debt.
  • Neglecting the emergency fund: not having an emergency fund leaves you vulnerable to unexpected expenses. Without a financial cushion you may have to rely on high interest credit to see you though.
  •  Overlooking insurance needs: failing to have adequate insurance coverage such as life, critical illness and income protection insurance can leave you financially exposed in the face of unexpected events.
  • Chasing short term gains: Investing without a clear strategy or chasing quick profits can lead to losses. It’s important to have a diversified and well-thought-out investment plan aligned with your financial goals.

Crisis Assistance

Without a doubt, having a hand to hold when markets crash or when a family member passes is invaluable. By working closely with a financial planner you are more likely to avoid knee jerk reactions when markets tumble and this often leads to greater returns over time. Not only this, a good financial planner is there to listen when times get tough and to reassure you that your financial plan remains on track.


In summary, by working closely with an independent financial adviser you benefit from objectivity, technical expertise, and reassurance when times get tough.

Can We Help?

Would you like to benefit from our independent financial advice?

Please get in touch by clicking on the following link Contact Us.

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