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As a professional who works closely with financial planners, you probably have a good understanding of what services they provide – cashflow modelling, retirement planning, budgeting, investment planning, and so on.
However, you might not appreciate the full spectrum of advice and guidance an experienced financial planner can offer your clients.
For example, a 2023 survey by Royal London found that 66% of financial planners said that their main role during the ongoing cost of living crisis is to provide reassurance and peace of mind. The findings suggest that while practical advice is important, it’s the emotional support that clients value the most.
Deepening your understanding of how a financial planner could support your clients at different stages of their lives may allow you to make relevant and meaningful referrals that support better outcomes.
Keep reading to discover five lesser-known ways a financial planner could help your clients overcome challenges, take control of their wealth, and build the life they desire.
1. Making major life decisions feel less overwhelming
Rarely does life progress in a straight line – there are usually peaks and troughs along the way. Indeed, your clients may face any number of complex life transitions that require them to make significant financial choices – from divorce and bereavement to losing a job or selling a business.
Even welcome events, such as an unexpected financial windfall, could trigger feelings of overwhelm and decision fatigue.
A financial planner can provide structured, impartial support that enables your clients to prioritise actions and make informed – rather than emotional or rushed – choices. This support can be invaluable in easing stress and empowering individuals by giving them a sense of calm and control at a challenging time.
2. Helping your clients understand and adapt their money mindset
Everybody has a default set of beliefs and attitudes about money – their “money mindset”. This way of thinking usually develops in childhood and becomes more embedded as an individual gets older.
Your clients may be unaware of their money mindset as it usually operates subconsciously, yet it can have a powerful effect on their financial decisions and behaviours.
For example, a “scarcity mindset” involves a persistent fear of not having enough money, which may lead to oversaving and underspending. This could make it harder for your clients to achieve their financial goals.
However, changing these thought patterns might be a hard habit to break without help.
A financial planner can give your clients a new perspective on how they manage their wealth, allowing them to identify their money mindset, challenge unhelpful thoughts, and develop a more positive approach to their finances.
3. Providing a safe space for couples and families to talk about their finances
Recent research shows that money remains a taboo in many households:
- A 2024 study by Canada Life found that 56% of UK adults who received an inheritance in the past five years did not discuss it with the benefactor beforehand.
- According to research by Standard Life, 53% of UK adults aged over 55 have not talked to their partner about their retirement goals or finances.
Unfortunately, this lack of communication could make it harder for your clients to build the life they want. Moreover, it may lead to family tensions and disputes, which can prove costly.
A financial planner can provide a safe space for couples and families to have sensitive and potentially emotional conversations about money and their wishes for the future. This could provide a strong foundation for developing shared financial plans that help clients and their loved ones manage their wealth more effectively.
Moreover, talking openly about money as a family might be a crucial step towards building financial knowledge, awareness, and engagement in the next generation.
4. Giving your clients the confidence to enjoy their wealth
It’s widely understood that overspending could lead to unmanageable debt and financial stress. However, underspending is a much less recognised, yet potentially equally detrimental, financial behaviour.
Imagine that your client has just retired after a lifetime of accumulating wealth. They may find it difficult to transition from saving to spending due to worries about running out of money or not being able to leave a meaningful legacy to loved ones. Unfortunately, this could hold them back from fully enjoying the retirement they have worked so hard for.
A financial planner can use cashflow modelling to provide a visual picture of how long your clients’ savings and investments could last in retirement. This might help them to prioritise their goals and feel more confident about enjoying their wealth.
5. Guiding planning for later life care
Preparing for the potential cost of later life care is a crucial, yet often-overlooked element of financial planning.
Figures released by Lottie reveal that in 2026, the average cost of private residential care in the UK is £1,300 a week, while nursing home costs average £1,512 a week. This could equate to a substantial outlay if your clients need care for a prolonged period of time.
However, according to the Actuarial Post, 60% of over-45s underestimate the cost of later-life care.
If your clients fail to put sufficient finances in place to fund their future healthcare support needs, they may be unable to access the care of their choice or risk running out of money as they get older.
A financial planner can help your clients accurately assess the potential cost of their preferred type of care and build this into their long-term roadmap for saving and investing. They can also offer guidance on setting up Lasting Powers of Attorney, ensuring that your clients’ wishes are followed if they become unable to make decisions about their health and finances.
This could give your clients invaluable reassurance and peace of mind.
Get in touch
If you’d like to learn more about how we can work together to support better outcomes for your clients at all life stages, we’d love to hear from you.
To learn more, please email hello@sovereign-ifa.co.uk or call us on 01454 416653.
Please note
This article is aimed at professional advisers only and does not constitute advice.
All information is correct at the time of writing and is subject to change in the future.
Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.
The Financial Conduct Authority does not regulate estate planning, cashflow planning, or Lasting Powers of Attorney.
The value of your client’s investments (and any income from them) can go down as well as up and they may not get back the full amount they invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your clients’ overall attitude to risk and financial circumstances.
Approved by Best Practice IFA Group Ltd on 19/2/26