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The financial planning process

How your individual Financial Plan is created

We follow a robust financial planning process, which has been carefully designed, with six important steps. At every step, we ensure you the client know exactly what's happening.

1. We identify your needs and objectives

As a first step we will arrange an introductory or discovery meeting, at which we explain fully how the service works, and discuss your primary financial needs and objectives. By hearing how we work with our clients you will have the opportunity to make sure that our service will be of value to you. The initial meeting is at our cost, and no fee will be raised for that time spent.

2. Gather Information

If it is felt there could be mutual benefit from our service, then we will go into much greater detail with you. We look at your objectives and develop them into well-defined goals. At the same time we will gather detailed financial information to prepare a comprehensive picture or audit of your financial commitments.

3. Prepare an analysis

Once these details have been agreed with you, the information is then used to complete your personal financial plan. This written report performs a detailed analysis on your current financial position and identifies any areas where it is felt your existing financial arrangement could be more effective, or, where you do not have plans in place to achieve your stated objectives.

4. Develop a plan of action

Now, with the full understanding of your circumstances and priorities we construct your financial plan. This report sets out specific and realistic recommendations designed to achieve your stated objectives, both in the short and longer term.

5. Implement your plan

The next step for us is to present you with your own plan. At this meeting each recommendation will be carefully explained and all your questions answered. It is of course your decision whether to implement those strategies, in full or in part. Attainment of your goals, whether it is some or all of the recommendations, will only be achieved by positive action and your own desire to make this happen.

6. Monitor your progressFlowchart

All Pilgrim clients receive an annual valuation report showing the value of their investments and pension funds. In addition Pilgrim 'Financial Planning' clients also have an annual or half yearly review meeting, with more frequent valuation reports.

At these review meetings, we look to ensure your plan is working towards achieving the agreed objectives. Each review meeting also takes into account any changes in personal, business or family circumstances, financial market conditions and relevant legislation.

NB We do not monitor your funds on a daily basis, although this can be arranged as part of our service through our partner Discretionary Fund Managers.

If you would like to find out how the Financial Planning process can benefit the different stages throughout your life, contact us to discuss.


Pilgrim Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority. Financial Services Register No: 539738 http://www.fca.org.uk/register.

Pilgrim Financial Planning Ltd Registered Address: Thyer House, Wells, BA5 2RR. Registered in England & Wales, No. 7450215.

Neither Pilgrim Financial Planning Ltd nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning.

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The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.

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