How often should I review my financial plan?

Author: Paul Orrey

Chartered Financial Planner

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Regular check-ups are a part of life for most people, whether it’s going to the dentist, taking your car for an MOT, or having your boiler serviced.

But how many people do the same with their finances, and how often should you review your financial plan?

This will depend on your circumstances, but it should be at least annually, and probably when something major happens to your personal or financial situation.

Financial planning is particularly important during turbulent economic times, such as the current global environment we find ourselves in today. It’s only natural to feel a heightened level of stress and anxiety, particularly when your investments and finances are negatively impacted.

Planning for the short-term and the long-term and building in a safety net will help to maintain financial security and reduce anxiety.

Take stock and review your financial situation regularly

We all have aspirations of what we would like to achieve in life, from buying a house, paying for education to having a good income in retirement or providing financial security for our loved ones when we die.

It is important to take stock and review your financial situation and goals regularly, considering where you are now and where you aspire to be in the future.

One of the most common and effective ways of getting a financial check-up is to seek advice from a financial planner or financial adviser.

Financial planners are classified as either independent or restricted.

An independent financial planner can advise clients on financial products from a variety of different companies, from across the financial market. Restricted financial planners are limited to advising on a specific range of products, often from just one company.

A holistic financial planning approach

At MM Wealth, your financial planner will provide a holistic financial planning approach, reviewing every aspect of your life and aligning your current financial situation with your future goals.

We can assist you in many ways – from advising you on protection and cashflow management to preserving your wealth and managing your investments, whilst also providing guidance on pensions, estate planning and efficient tax planning initiatives.

We can help create the right financial plan for you.

A financial check-up isn’t just for people who have never reviewed their financial affairs. People with good visibility of their finances should also regularly evaluate and adjust their arrangements – because, as we know, circumstances change all the time.

If you are overdue a financial check-up, please get in touch with one of our independent financial planners on 01223 233331, or email

Opinions constitute our judgment as of this date and are subject to change without warning. The value of investments, and the income from them, can go down as well as up, and you may not recover the amount of your original investment.

The information in this article is not intended as an offer or solicitation to buy or sell securities or any other investment, nor does it constitute a personal recommendation.

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