We have touched on this theme in our other blogs this month.
However, it is worth taking a further step back.
In the 1990s and before, financial advice was often seen as an exercise in selling a product. During the 2000s, it became more focused on investment performance and adviser-led portfolio management.
Understandably, many people still think an annual review is simply an annual statement and a conversation about how investments have performed.
Many articles that argue against paying an ongoing advice fee focus on this point. If all a client receives is a valuation and a short conversation about performance, then it is fair to ask:
“What am I actually paying for each year?”
At Manning Gee Investments, we believe ongoing financial advice is not just an annual statement or a quick look at investment performance.
It is the process of keeping your financial plan relevant, suitable and useful.
We also believe in being transparent. That is why we publish our fees and explain what our service provides on our website, so clients can clearly understand what their fee covers.
Ongoing Advice Starts With Your Life, Not Your Investments
Our financial planners have more than 20 years’ experience in the profession. As a company, Manning Gee Investments has been around for five years.
That means we have been able to build a business that is not stuck in the past.
Our process starts by understanding the person, not the product.
We focus on gathering information about your:
- Values.
- Goals.
- Family.
- Retirement plans.
- Income needs.
- Assets.
- Existing advisers.
- Preferences.
- Interests.
- Concerns.
- Confidence.
- Peace of mind.
This matters because financial planning is not just about where your money is invested.
It is about what your money is for.
For some people, that may be retirement. For others, it may be helping children or grandchildren, protecting a spouse, reducing tax, selling a business, or passing on wealth.
The investment solution should support the plan.
It should not be the starting point.
What Is Included in Ongoing Financial Advice?
Ongoing advice should be clear.
Clients should know what they receive and why it matters.
At Manning Gee Investments, ongoing financial advice may include:
- An annual financial review.
- An updated suitability review.
- A review of goals and aspirations.
- A review of personal circumstances.
- A review of attitude to risk and capacity for loss.
- Pension and investment reviews.
- Tax and legislative updates.
- Estate planning checks.
- Access to advice throughout the year.
- Support with other professionals, such as solicitors and accountants, where needed.
- Newsletters, blogs and important updates.
- Help when life changes unexpectedly.
There are also parts of the service that are less visible, but still important.
Running a regulated financial planning business carries responsibilities. These include compliance oversight, professional indemnity insurance, continual professional development, technology, research, governance and administration.
These are not always seen by clients, but they form part of the structure that allows advice to be delivered properly and safely.
Why Ongoing Advice Matters
In our previous blogs, we highlighted a simple point.
Things change.
This may include:
- Life changes.
- Tax rules change.
- Investment markets change.
- Retirement income needs change.
- Family needs change.
- Risk tolerance changes over time.
- Legislation changes.
A good example is the expected change to pensions and inheritance tax from April 2027.
This could have significant implications for retirement planning, estate planning and how wealth is passed on. When managing everything yourself, it can be easy to miss some of the detail or the knock-on effects.
Ongoing advice helps clients review these changes in the context of their own life.
The question is not simply, “What has changed?”
The better question is:
“What does this change mean for me and my family?”
The Difference Between Investment Management and Financial Planning
In a previous role, much of my time was focused on investment management.
Around 80% of the work involved fund research, portfolio construction and understanding what was happening in markets.
That work matters, but financial planning has moved on.
There are now fewer financial planning firms that act as investment managers themselves. One reason is that investments are only one part of the picture.
They are important, but they are not the central piece.
Financial planning looks at the wider picture.
It connects your pensions, investments, savings, tax position, retirement plans, protection, estate planning and family goals.
Investment management asks, “How is the portfolio performing?”
Financial planning asks, “Is your money helping you live the life you want?”
That is an important difference.
Ongoing Advice in Retirement
Some people may feel they do not need advice while they are building assets.
We would argue that advice becomes especially valuable when someone approaches or enters retirement.
Retirement has become more complicated.
Many people now carry more responsibility for their own retirement income. Defined benefit pensions are less common in the private sector, and more people rely on defined contribution pensions, ISAs, investments and savings.
This creates more flexibility, but also more responsibility.
Ongoing financial advice in retirement may include:
- Sustainable income planning.
- Pension withdrawals.
- Tax-efficient retirement income.
- Managing market volatility.
- Planning for inflation.
- Later-life planning.
- Estate planning.
- Reviewing cash reserves.
- Supporting a surviving spouse or beneficiary.
- Helping avoid emotional decisions during uncertain periods.
In retirement, the question is not only whether your investments are growing.
It is whether your money can support the life you want for as long as you need it to.
What Ongoing Advice Is Not
Ongoing advice is not simply sending an annual valuation. It is not:
- Making changes for the sake of justifying a fee.
- Chasing short-term performance.
- Selling a new product every year.
- Assuming every client needs the same service.
In the past, advice was often product-led. Later, it became heavily performance-led. Over the last decade, some firms have tried to justify fees by doing more and more activity, even when activity was not always needed.
That is not how we see ongoing advice.
Ongoing advice should be about you.
Your plans, family, goals, concerns, retirement and future.
Sometimes a review will lead to action.
Sometimes the best outcome is to confirm that the existing plan remains suitable.
Both outcomes have value.
Is Ongoing Advice Right for Everyone?
We believe ongoing advice can add value for many people.
However, we also understand that some people are comfortable managing their own finances, and that is okay.
Ongoing financial advice is often most valuable where people have:
- Multiple pensions or investments.
- Retirement decisions to make.
- Tax planning needs.
- Family wealth planning needs.
- Business owner planning needs.
- Estate planning considerations.
- £100,000 plus of investable assets.
- A desire for reassurance and accountability.
- A preference for having someone to guide them through decisions.
For many clients, the value is not just in the technical work.
It is in the confidence that someone understands their situation, keeps the plan under review and is there when life changes.
Final Thoughts
Ongoing financial advice is about helping you make better decisions over time.
It provides structure, accountability and support as your life changes.
It helps ensure your pensions, investments, tax planning and retirement plans remain aligned with what matters to you.
At Manning Gee Investments, we believe financial planning should start with your values and goals. From there, we help individuals, families and business owners grow, protect and pass on wealth through clear, approachable and tax-efficient financial planning.
If you would like to understand whether ongoing financial advice could help you, speak to Manning Gee Investments, Financial Planners in Bristol.
Frequently Asked Questions
What is ongoing financial advice?
Ongoing financial advice is a continuing service that helps keep your financial plan under review. It may include annual reviews, pension and investment reviews, tax planning, retirement planning, estate planning and support when your circumstances change.
Is ongoing advice just an annual investment review?
No. A good ongoing advice service should look beyond investment performance. It should consider your goals, family circumstances, retirement plans, tax position, risk, protection and wider financial planning needs.
Why do financial advisers charge an ongoing fee?
Financial advisers charge an ongoing fee to provide continuing advice, reviews, support, administration, research, governance and regulatory oversight. The fee should be clear, transparent and linked to the service being provided.
Do I need ongoing financial advice in retirement?
Ongoing advice can be especially valuable in retirement because decisions around pension withdrawals, sustainable income, tax planning, market volatility and later-life planning can have long-term consequences.
Is ongoing financial advice right for everyone?
Not everyone needs ongoing financial advice. However, it can be useful if you have pensions, investments, retirement decisions, tax planning needs, family wealth planning or £100,000 plus of investable assets.
How can a Financial Planner in Bristol help with ongoing advice?
A Financial Planner in Bristol can help you review your financial plan, pensions, investments, retirement income, tax planning and family goals, while providing support as your circumstances change.
General disclaimer: We sourced the data from external providers. While we strive for maximum accuracy, we cannot guarantee the reliability of the data they supply. The author writes the introduction from their perspective, reflecting their views, which may not align with those of Manning Gee Investments. Anyone considering a product or service based on this blog should seek professional advice or conduct their own research before deciding. The author bears no liability for decisions made based on this blog. Investments can rise and fall in value, and the return at the end of the investment period is not guaranteed—you may receive less than you originally invested.
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