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4 Ways A Financial Planner Can Improve Your Wellbeing

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This content is for information purposes only and should not be taken as financial advice. Every effort has been made to ensure the information is correct and up-to-date at the time of writing. For personalised and regulated advice regarding your situation, please consult an independent financial adviser here at Castlegate in Grantham, Lincoln or other local offices.

In 2019, Salary Finance ran a study about financial wellbeing which had fascinating results. It found that over two-thirds of people in the UK have money worries, and these people are overwhelmingly more likely to suffer from lower work productivity and sleepless nights. Such people are also more prone to panic attacks, depression and anxiety.

As financial advisers here in Lincoln, we see first-hand how much stress and unhappiness can be caused by a lack of financial stability, debt and poor planning. In other words, it isn’t so much about the amount of money you make (although that is important for financial planning), but your attitude and approach to wealth and finances which largely determines financial wellbeing.

In this article we offer five great ways a financial planner can help you increase this sense of wellbeing in your own life. We hope you find this content helpful, and if you would like to discuss any of these matters or discuss your own financial plan with us please get in touch to arrange a no-obligation financial consultation, at our expense:

01476 591022


#1 Short-term clarity

One common cause of financial distress our financial planners encounter with clients is a lack of knowledge about what is coming in and out of the accounts each month. Another is not knowing which assets and liabilities you possess, where they are (e.g. missing pensions) or how any of them can be brought together and dealt with.

The benefit of an independent financial adviser is the experience and wisdom they can bring to help you collate the facts about your situation, so you have a clear view of the issues that need addressing. “Fear of the unknown” is widely recognised as a common cause of anxiety, and so assembling your financial/wealth profile can be a very positive step towards greater wellbeing.


#2 Increased security

Many of us are plagued by financial worries which take the form of “what if?” questions. What if I died suddenly, and my children and dependents could no longer rely on my income to survive? What if I lost my job tomorrow and had no savings to fall back on? What if I became grievously ill or injured, and so could no longer support my family through paid work?

Part of a financial planner’s job is to address these fears directly by providing solutions and effective contingency plans, to help ensure you have the financial protection and support you need should any of the unlikely “what ifs?” actually happened. This might involve finding an appropriate life insurance or critical illness cover policy for you, and integrating it into a strong estate planning strategy.


#3 Improved financial freedom

Here at Castlegate in Lincoln, our financial planners often witness financial stress in people caused by a perceived lack of financial options. Perhaps an individual wishes to retire early (e.g. in their mid-fifties) or settle their mortgage before their retirement, but believes that their current financial situation prevents them from doing so.

A financial adviser can help to ascertain whether these beliefs are really true. This is not to say that such a professional will inevitably find a way to realise your goals, or that the reverse outcome will not happen (i.e. they help you discover that your retirement lifestyle is not going to be sustainable in the long run). However, certainly here at Castlegate we have had many joyful occasions where we’ve helped a client to structure their wealth and finances in a way which allows them to do more than they previously thought possible.


#4 Purpose towards your goals

Financial insecurity can cause great stress and anxiety; as can a lack of knowledge about your situation, present and future. However, one other cause we have sometimes identified here at Castlegate is financial purposelessness. It is possible to want for little, materially-speaking, yet be deeply dissatisfied with your wealth. We believe this is because human beings have a deep need to feel that their life is “for something”, and this is deeply tied into how we regard and use our wealth.

Everyone’s goals and sense of purpose is different, and a financial planner can help you identify what these are in your own case and rally your finances towards those ends. It might be that you want to enjoy a comfortable, early retirement with your significant other after a hard-working career, where you can travel the world together. Another possibility is that you might deeply desire to give your grandchildren a better start in life compared to the one you had, by leaving them a meaningful inheritance when you pass on.

Having a sense of purpose and integrating this with your finances can go a long way towards achieving greater financial wellbeing. Here at Castlegate, we would love to partner with you along that journey.



If you are interested in discussing your own financial plan and strategy with us, please get in touch to arrange a no-commitment financial consultation at our expense:

01476 591022