When it comes to securing your financial future, the approach you choose can make all the difference. Many people are familiar with traditional financial advice, which often centres on the sale of financial products like pensions, life assurance, or investments. However, a growing number of individuals and families are discovering the advantages of comprehensive financial planning – a holistic, client-focused approach that doesn’t focus on the sale of financial products. At Highfield Financial Planning, we believe that true financial security comes from strategies tailored to your life goals, and that a sales based approach serves nobody except the adviser and product provider.
What Is Financial Planning?
Financial planning is a process, not a transaction. It involves working with a qualified professional to develop a personalised strategy that helps you achieve your unique financial objectives and life aspirations. This approach considers every aspect of your finances – income, expenses, assets, liabilities, tax, retirement, estate planning, and more – to create a roadmap for your future.
In contrast, traditional financial advice often focuses on identifying a need and then selling a product to fill that need. While this can address immediate concerns, it rarely takes into account your broader financial picture or long-term goals. The big flaw with the traditional model is that each need is addressed in isolation without an eye to the bigger picture. This means that achieving efficiencies in your finances isn’t even considered.
Why Financial Planning Is Superior to Product-Led Advice
- Holistic, Goal-Oriented Approach
Financial planning starts with you – your goals, values, and priorities. Whether you want to retire early, fund your children’s education, or achieve financial independence, a financial planner will design a strategy that aligns with your ambitions. This contrasts with the traditional model, where the conversation often revolves around which product to buy, rather than what you want to achieve.
- Fiduciary Responsibility and Client Focus
Acting as a fiduciary means always putting the client’s interests first. This is a key distinction: traditional advisers may be incentivised to recommend products that benefit them through commissions or sales targets. In contrast, a financial planner’s success is measured by your progress towards your goals, not by the volume of products sold. You wouldn’t attend a Doctor who provided his services for free and was paid by a pharmaceutical company – you’d want to know that he was prescribing treatment which was for your benefit, not for profit. A real Financial Planner gets paid whether you buy a product or not. This is why the concept of a “free financial plan” is a misnomer. The only thing that is free is cheese in a mousetrap.
- Comprehensive Expertise and Qualifications
The principal of Highfield Financial Planning, Eoghan Gavigan, holds the highly respected Certified Financial Planner (CFP) designation, along with over 30 years’ experience in banking and finance. This expertise ensures that advice is grounded in deep knowledge and best practice, not just product familiarity.
- Clarity and Simplicity
Financial planning demystifies complex financial matters. Instead of overwhelming you with jargon or pushing products, a good planner explains your options in clear, understandable terms.
- Proactive, Ongoing Relationship
Most people begin their financial journey with products provided by advisers who use the various mass market offerings which are available. These are perfectly adequate for people who are setting out on the journey. There are however two principle flaws with this arrangement which emerge as your financial profile grows;
- many of these products are structured so that the adviser receives a large commission payment when the sale happens, but little or nothing in the future. As a result while the initial service can be adequate, the quality of ongoing advice usually falls short
- as the offering is designed for high numbers of clients (Irish Life for example has over 1.6m clients), an investor with €1m in assets gets the same service as someone with €10,000
Financial planning is not a one-off event so products are usually structured with less upfront commission but ongoing income over the life of the product. Your planner will regularly review your progress, adapt your strategy to life changes, and keep you informed about new opportunities or risks. This ongoing partnership ensures your plan remains relevant and effective, unlike product-led advice which often ends after the sale.
- Stress Reduction and Confidence
Many clients come to us feeling overwhelmed by past experiences with product sales or mass-market offerings. Financial planning relieves this stress by providing a clear, structured path forward, managed by a trusted professional who is always available to answer questions and offer guidance.
Real Client Experiences
Clients of Highfield Financial Planning frequently highlight the difference this approach makes:
“Eoghan explained everything in a way I could easily understand… I hope to be a client of his for years to come.”
— Gareth M.
“Eoghan went above and beyond to explain all details and possible scenarios with me. He constantly kept me updated and aware of any new information without being prompted.”
— Patricia Duggan
“He is very professional yet explains everything in ‘lay’ terms. Even during Covid he kept in touch through Zoom and email.”
— Sheila Weller
These testimonials underscore the value of personalised, ongoing support—something rarely found in product-focused advice.
Who Benefits Most from Financial Planning?
- Individuals and families seeking clarity and direction for their finances
- Those who want advice, not a sales pitch
- People who have larger than average financial profiles and who feel that the mass market offerings which are available no longer serve their needs
- Anyone serious about making the most of their finances and achieving their life goals
Conclusion: Choose a Partner, Not a Product
While financial products have their place, they should be tools within a broader strategy – not the strategy itself. By choosing financial planning over traditional product-led advice, you gain a long-term partner dedicated to your success, not just a salesperson. At Highfield Financial Planning, our mission is to help you secure your financial future with clarity, confidence, and a plan designed just for you.
If you’re ready to take control of your financial journey, reach out to us and experience the difference a holistic, client-focused approach can make.
If you would like to find out more give us a call on 01 546 1100 for a no obligation discussion. You can reach us by email to [email protected] or book a video call with us here.
