Life Plan
Finding Peace with Money
Is the Life Plan a Regulated Financial Product?
The Life Plan is not a regulated financial product because it does not result in the recipient receiving financial advice. The Life Plan itself is simply a breakdown of ‘Needs’ (‘Objectives’) and Means’ (‘Plan’). During the course of setting up and reworking the Life Plan, however, discussions will take place between the Life Plan consultant and the client which provide perspective for the client and enable them to determine which areas they would like to receive advice or further assistance on. In this respect, the Life Plan simply provides a ‘space’ within which the client can explore what their needs and objectives are, and how these relate to each other in the context of their means as a whole.
The core Active Plan services provided by/through Trust Financial Planning, however, are regulated. This includes Pensions and Investment advice provided through our partner authorized firm GP3 Financial Solutions Ltd and Mortgage and Protection advice provided using our own FCA authorizations. Certain services, such as assisting clients to choose alternative bank accounts, are not regulated but these do not involve advice. Any actions that follow the provision of these services (such as the decision to open a bank account) must be initiated by the client.