Helping Families with their Financial Planning

Author - Kate Kennedy

I know I’m guilty of leaving the most demanding tasks until last—the ones that need the most brain power and time. Ironically, those are often the things that need the most attention, because they’re usually the most important items on my to-do list.

For many families I work with, that important task is often paying attention to their finances and planning for the future. I’m fortunate that this is what I do for a living, so for me, it feels like a more manageable task. I have the knowledge, the access, and the resources to know what needs to be done—and that makes a big difference. Give me a Disability Living Allowance form to fill in and I’ll leave it to the deadline!

I understand that for many families, financial planning can feel like an overwhelming mountain to climb, and they often don’t know where to begin. That’s where I step in. My role is to take that burden —the mental load—off their shoulders and guide them through the process. By breaking it down into manageable steps, I help families feel more confident and in control of their financial future.

By taking on this responsibility as my client’s adviser, I can help families organise their finances in ways that not only meet their immediate needs but also acknowledge their long-term goals and circumstances. It’s incredibly rewarding to see how this support empowers them to make informed decisions and build a more secure future.

Before training as a financial adviser, almost 9 years ago, I was working as a therapist in a busy NHS service. This role helped shape the work I do today and the responsibilities I take on because I’m deeply committed to building strong and trusting relationships through my work. A Financial Adviser’s role is very similar to a therapist role. It can be sensitive for many reasons.

You need to be able to help clients overcome their struggles and concerns, celebrate the wins and be there to create a personal and manageable plan, to support people in following through with it. And as we know, life can throw challenges at us, so often financial plans need to adapt. I want to be there to make sure we’re advising them properly and keeping clients on track along the way.

When I start working with my clients, we begin with a financial health MOT. We have a conversation about what they’ve done so far—whether that’s starting a pension, setting up cash ISAs for their children, or if they haven’t done anything yet. We look at their savings, their bank accounts, whether they have the right protection in place, and if they hold any big debts like a mortgage.

First, we build a clear picture of the client’s situation. This helps me see what opportunities they might be missing—whether that’s making their money work harder through investing more efficiently, or it might be that they’re doing many of the right things, but there could be threats to their plans because they don’t have the right kind of protection.

For example, if something were to happen to the main breadwinner, who would pay the mortgage? How would the other partner cope if they had to care for their spouse?

A recent challenge many families are facing comes from changes in legislation around paying private school fees, which has put a big strain on their financial situation. For some, early private school education might not be affordable, but they want to make sure they have the right finances in place when it comes to university. I help parents plan for every goal and every challenge.

I’m passionate about helping families feel secure and in control of their finances because I believe it’s closely linked to mental well-being. Given the demands on our lives today, especially in the current climate, this is more important than ever.

I often share with clients the biggest curveball my own family has ever faced. If we hadn’t had the right protection in place, it would’ve put a huge strain on my husband and I during an already difficult time. Tragically, we lost our son at seven months old, leaving his twin brother and us devastated.

Because of my work, I had critical illness cover with a child element included, which meant we were able to claim on the policy. That money gave us some breathing space and relieved the pressure of rushing back to work. No amount of money can make something like that easier, but it did give us peace of mind to take the time we needed. It’s often the simple things, like protection, that you think you’ll never need—but when you do, you’re so grateful it’s there.

Another challenge we’ve faced is that our son lives with additional needs due to his prematurity, which adds another important element to consider when planning for his financial future. Having the knowledge and resources in this area to know about trust planning etc allows me to support other families in similar situations.

My advice to anyone seeking help with financial planning is to find an adviser who’s a good fit—someone you feel you can trust and who you don’t mind spending time with. You must feel comfortable sharing your concerns and asking all the questions because, truly, no question is a silly question.

If you want help understanding how to support your family’s financial future, please get in touch via kate.kennedy@sjpp.co.uk or 07966 031038.