Financial advice
for women.

We specialise in helping women take control of their financial planning. As an all female team of financial advisers, we think we have a unique perspective on providing financial advice for women.

Financial advice for women is crucial. There are many reasons why women remain unsure about their financial picture. Busy lives, demanding careers, focusing on the children are but a few. And sad as it is to say, still to this day the finances are often taken care of by men. All this means that too many women remain unsure of their status and whether they are in the best possible place financially. And that’s simply not good enough, So, we are leading a revolution in breaking down those barriers.

Women often have a need for unique financial advice.

And we want to make sure women are in control of their financial future.

The clear need for
financial advice for women.

The first step is for women to realise that their financial needs and planning is likely to be different from men. We say likely, because we are not in the business of generalising or providing generic advice. Yet, more often than not, this statement is true. It means that certain key decisions need to happen at different times. The simplest way to achieve the right strategy is to get the right advice. And that’s what we are here for. We want to make financial advice truly accessible for women.

Financial planning tips for women.

As we’ve already said, we’re not in the habit of just providing generic advice. But here are some of the top tips we have for women when it come to looking at their financial planning.

Tip 1

Embrace the difference

When women’s financial journeys are treated in the same way as men’s, problems can arise. For women, it is important to look at key life milestones, understanding their implications and what these mean for financial planning. A good example is if you choose to have children. As soon as your first child is born, you will be able to map out key dates in their lives and what this means for you. Consider carefully periods during which you may be earning less money and how to plan for that.

Tip 2

Not all journeys are the same

So much financial advice designed for women makes assumptions. Perhaps the most obvious being that they will have children. And with that comes a career break. But it doesn’t have to be that way. Only advice that is specifically tailored to you and your individual circumstances is the right advice for you.

Tip 3

Prepare when you can

Although pensions are not the only form of retirement provision available to you, they are normally part of a well-thought through financial plan. So, maximise your contributions when you can, particularly in the early years, and let compound interest get working for you.

Separation and divorce.

Sadly, one of the key life events that prompts the need for financial advice for women is separation from a partner. When people split up there are a large number of financial implications for retirement plans, mortgages, savings and tax that need careful consideration to avoid financial hardship.

Splitting up with a long-term partner, particularly a spouse, can be devastating. But while you deal with the emotional implications of this major life change, it’s all too easy to forget about your financial plans for the long term. As hard as it is, you shouldn’t do that.

At Financial Framework, we have years of experience in helping couples deal with their finances at separation. We are accredited members of Resolution, a community of family justice professionals who work with families and individuals to resolve issues in a constructive way.

The financial impact of divorce

While it is possible to divorce without incurring large legal fees, most couples will find the process expensive. Solicitors’ fees for a negotiated financial settlement will be in the low thousands of pounds. And if the case gets to court, you could be paying tens of thousands. If there are children involved, or large amounts of joint assets, the costs could be even higher.

Such costs may be unavoidable, but they are likely to leave you in a vulnerable financial position. And your day-to-day living costs may increase as you move from joint outgoings for housing and bills to running two separate households.

A divorce can also call your retirement planning into question. For example, your pension may have been set up to be shared between you and an ex-spouse. Making the most of your cash, rethinking your long-term financial goals and ensuring your money is still invested as tax-efficiently as possible is crucial. Like all the work we do, we take a holistic approach to ensuring you both come out in the best possible financial place. We can work with all the assets you hold jointly and separately, as well as projected budgets for both of you and costs involving any children or other dependants, to achieve a financial agreement that takes everything into account.

Post-divorce

After a divorce, it is important for both parties to review their finances and legal positions to ensure everything reflects their new status. This includes reviewing who will receive your pension or other benefits in the event of your death.

You may also need help with mortgage finance for a new property and updated pension provision, and protection policies for any child maintenance that you will have to pay. Some older divorcees may also wish to take advantage of the new pension freedoms to access cash to buy new properties. It is vital to take advice before doing this.

Without financial advice, the complex process of divorce could leave you financially vulnerable for many years and may also leave your family unprotected. It is essential to ensure you have everything set up on a good footing as you begin your new life.

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Book a free discovery call.

If you’d like to find out more about us and our approach, then we offer a completely free initial discovery call where we can briefly find out a little more about each other.

Financial advice
for women.

We specialise in helping women take control of their financial planning. As an all female team of financial advisers, we think we have a unique perspective on providing financial advice for women.

Women often have a need for unique financial advice.

And we want to make sure women are in control of their financial future.

The clear need for
financial advice for women.