Using a 4 step process to manage your project from start to finish

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Using a 4 step process to manage your project from start to finish

Whether your aim is to create wealth, preserve existing wealth or make provisions to distribute your wealth, my financial planning process helps us to identify and agree the most appropriate strategy for you and is often the start of a long and valuable partnership.

Stage 1: Discovery

I start with a relaxed informal meeting at my expense. This helps me to understand your personal circumstances and allows me to understand what you aim to acheive. This is also the perfect time to tackle any concerns you may have. Most importantly, this is an opportunity for you to get to know me, ask questions, and understand what you can expect from me and my services. I’ll spend time gathering the facts and information I need to start formulating a plan of action for you.

Stage 2: Research Planning

I will review and analyse, in detail, the information gathered during our initial meeting(s). Using this information, in conjunction with your goals and aspirations, I will design a plan for you that will map out what I feel are the actions and amendments that need to take place in order to achieve what we agreed were your key priorities.

Stage 2: Research Analysis

During my analysis, I will consider things such as

  • Are your current holdings organised in the best way?
  • Are any new arrangements required to meet your goals?
  • Could you reduce the tax you pay / will pay in the future?
  • What would the situation be if you were to pass away?
  • What level of risk is needed / acceptable to meet your investment goals.

Stage 2: Research

I will then research and select any new arrangements that might be required. I bring all of this information together and present it in a formal recommendation report detailing what we agreed your requirements are, any course of action I am recommending, the rationale behind my recommendation and any technical information I feel is relevant to support this.

Stage 3: Implementation

Using the formal recommendation report I have prepared I will talk you through my recommendations in detail. At a pace that is comfortable to you I explain the plan and how I feel that it will benefit you and help you meet your objectives. I talk you through what is involved, including any charges associated with any products and advice. Once you are comfortable with everything we have discussed, I prepare all of the necessary documentation to implement the recommendations. I will then ensure any administration, applications and associated paperwork is dealt with and monitored on your behalf.

Stage 4: Review

The initial advice and implementation of the recommendation is very much just the beginning of a quality financial plan. So much can change over a relatively short space of time due to factors affecting your own personal circumstances, the economy, and government policy for example, so regular reviews of your position are vital in ensuring you stay on the correct path to fulfilling your financial goals. My obligation to continually monitor and review your holdings on your behalf is constant, and our interaction can be largely driven by you and your preferences, however as a minimum I insist that we meet on at least an annual basis going forwards to conduct a documented face to face review, however in reality I tend to see most of my clients more regularly as and when you feel a conversation would be beneficial.