Holistic financial planning: a comprehensive approach to your finances

  • Daniel Weaver, Financial Planning Director
  • 29 May 2024
  • 5 mins reading time

When it comes to our personal finances, it’s often easy to view each of our goals in isolation, like scattered pieces of a jigsaw puzzle. But we believe a holistic perspective is needed to achieve financial wellbeing. This approach would consider all facets of our financial and personal lives to get a clear view of our overall circumstances.

As an adviser I’ve seen firsthand the transformative power of a holistic perspective. And it’s not just about accumulating wealth; it’s about aiming to nurture a life that’s personally fulfilling and financially comfortable.

When we seek financial guidance, we often have a specific goal in mind. It might be to maximise returns on investments, plan for retirement or put our cash savings to good use.

Many of us don’t realise these aims are interconnected, with each influencing the others in subtle but significant ways. It’s our responsibility as holistic financial advisers to help people take a broad-based approach and understand how their financial decisions today may impact their long-term wellbeing.

All factors considered

Holistic financial planning refers to this comprehensive approach. It considers all aspects of our financial situation, including our goals, values and circumstances. And it helps develop a personalised strategy aimed at enhancing overall financial wellbeing. A holistic financial plan may include factors such as investment strategies, retirement planning, estate planning, debt management, insurance protection and charitable giving.

Imagine you’re keen to invest some surplus cash. This may seem a straightforward matter. But unless you consider factors such as your existing debts, protection needs and longer term retirement goals, your investment strategy may not support your aim of achieving financial confidence. Holistic financial planning encourages you to explore these interconnected elements, helping ensure your final investment decision aligns with your broader objectives and values.

At the heart of this holistic approach lies an understanding not just of the numbers, but of the values, aspirations and concerns that drive your financial decisions. By cultivating this deep understanding, an adviser can tailor solutions that resonate with you on a personal level, helping instil confidence and peace of mind.


Crucially, creating a holistic financial plan is not a set-and-forget task. A key benefit of this financial planning approach is its ability to flex and grow with you through different stages of your life.

In early adulthood, for instance, many of us focus on trying to build wealth and establish a solid financial foundation that can help achieve goals such as home ownership or further education. But as responsibilities grow and priorities change, we may shift towards protecting assets, planning for retirement and generating wealth for future generations. Holistic financial planning recognises these evolving needs and changes accordingly.

Holistic financial planning can foster a proactive mindset, equipping you with the knowledge and tools you need to navigate any market turbulence with relative confidence. Whether it’s exploring appropriate investment options or planning income protection, this approach helps ensure you’re well placed to weather market fluctuations and potentially achieve your long-term goals.

Ultimately, what sets holistic financial planning apart from simple money management is its commitment to your overall wellbeing. At Schroders Personal Wealth, we’re not just about managing money: we can hopefully help guide you on a journey toward financial wellbeing and personal fulfilment. We believe this dedication to understanding, empathy and personalised attention defines our approach to financial planning.

Important information

This article is for information purposes only. It is not intended as investment advice.

Fees and charges apply.

The value of investments and the income from them can fall as well as rise and are not guaranteed. The investor might not get back their initial investment.

Cash savings and investments are protected to the value of £85,000 per person per institution by the Financial Services Compensation Scheme. However the value of investments may fall as well as rise.

Protection policies have no cash-in value at any time. If you don’t pay your premiums on time your cover will stop, your benefits will end, and you’ll get nothing back. If the benefit amount has not been paid out by the end of the selected term, the policy will end and you’ll get nothing back.

Any views expressed are our in-house views at the time of publishing. This content may not be used, copied, quoted, circulated or otherwise disclosed (in whole or in part) without our prior written consent.

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