We provide holistic advice, within your agreed budget, putting your stated needs first. For new clients especially, this involves the six stage internationally recognised Financial Planning process.
We will clearly explain and agree the services to be provided and define both our own and your responsibilities. We will explain how much we charge, how we are to be paid, how long our relationship should last and how decisions will be made.
1. Gather client data
We will collect and assess all relevant personal information about your financial situation and your existing plans, investments and financial commitments, from you and from the providers concerned.
2. Identify financial objectives and problems
We will find out what is important to you, what your aims, ambitions, dreams and desires are, where you want to go and where you want to be.
3. Analyse and determine actions to meet your goals
Once the information is available, we will analyse this to assess your current situation and determine what should be done to meet your agreed goals. Depending on the services you have requested, this could include analysing assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
4. Develop and present recommendations
We will create your plan, possibly including a lifetime cash-flow forecast showing how long your money will last. This will tell you what you need to do to get where you want to be in life, addressing your stated goals and based on the information you have provided. We will explain these recommendations to help you make informed choices, listen to your concerns and, if appropriate, revise the recommendations.
5. Implement Recommendations
Once we have agreed how and when the recommendations will be carried out, we will implement them, co-ordinating the process with your other professional advisers.
6. Monitor and amend
We will agree who will monitor progress towards your goals to ensure these are achieved and how often this will occur. Where we are appointed, we will report to you periodically to review the situation and adjust the recommendations, in the light of any changes in circumstances, objectives, government legislation or market conditions.
This plan will change during your early career (pre 35), mid-career (pre 55), on early retirement, as you approach retirement and in retirement, as well as on illness.