The importance of regular financial reviews (infographic)

Posted 03.03.2022

Effective financial planning is a lot more than just creating a plan and sitting back. It requires regular review to make sure that you are investing effectively and wisely.  Your personal circumstances don’t always stay the same; income can rise as well as fall, and your attitude to risk can also change, so it’s important to undertake regular financial reviews.

Here at Rhodes Wealth Management, we recommend 6-monthly reviews to all our clients in order to ensure that their financial plan is suited to their goals, current circumstances and priorities.

If you’re still not convinced about the importance of regularly financial reviews, here are some of the reasons why we encourage our clients to have them:

Evaluates your attitude to risk

A crucial part of financial planning is understanding your attitude to investment risk, and very often risk is associated with our circumstances at the time. Risk can change depending on our dependants, age, job security and several other factors, so by reviewing this regularly, you’ll have opportunity to rebalance what stocks and shares you are investing in according to your attitude to risk at the time.

Keeps your plan relevant and effective

Life is never predictable, and changes can happen at any point in our life that may affect our future and financial situation. Any change in relationships, employment and new additions to the family can impact our future goals so they need a regular review to ensure that our financial plan remains relevant and effective.

Invest money in the right places

Perhaps you’ve received a pay rise or bonus at work and now have more disposable income to invest. Or maybe you’ve received an inheritance from a deceased family member.  We want to make sure that these are taken into consideration on your current financial plan and that you are making the right investment choices.

The wider economy

There are many factors beyond our control that can have an impact on what we choose to investment in and how they impact us financially.  From legislation affecting when you can access your pension at retirement, through to changes in tax allowances, by reviewing your financial plan you’ll be in a better position to respond to potential opportunities and assess the risks.

Improve your understanding and confidence

Talking about your finances with a trusted advisor can help improve your confidence and help broaden your understanding of investments and pensions and their wider impact.

The more you review your plan, the more confidence you’ll feel making decisions, and you’ll have greater peace of mind that you’re taking the right steps to have the future you want.

To start your financial investment journey today, contact us for a no-obligation consultation >>


The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

An investment in equities does not provide the security of capital associated with a deposit account with a bank or building society.

The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.

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