The advice we provide is what sets us apart
o ensure that our advice remains impartial, our advisers follow a natural set of steps. The steps follow a structured ‘conversation’ that ultimately allows your adviser to provide the advice that you need.
These steps are integral to the success of our business, but more importantly the success of our relationship with you; because without satisfied clients (i.e. you), we wouldn’t have a successful business.
The advice process diagram or carousel of steps
Step 1 – Background (It’s all about you, and us)
It sounds obvious, but we need to get to know you. Why? Because you are asking us to provide a stable, yet successful financial plan, therefore we’ll need to draw up a complete picture of where you are now, and where you want to be.
We’ll ask about you, your occupation, your savings & investments, your mortgage, your current liabilities and your tax position, and we’ll explain how all of this information builds a profile which will help us to formulate our plan.
You’re placing a lot of trust in us to do a good job; we understand this, so it’s important to us that you know who we are too.
Step 2 – Your Goals & Ambitions
Once we know more about your circumstances, we can then start to talk about your objectives and your aspirations.
We’ll discuss risk and reward, as it’s your attitude towards investment risk that will enable us to construct an financial plan that will look to meet your needs whilst taking into account the amount if risk you are willing to take.
You’ll see as we move forward in our discussions how all this fits into place in your personal plan. And before we start any work, we will look to agree the likely cost for our advice.
Step 3 – Analysis (We’ll show you what we’ve got)
By now we know who you are, your circumstances and where you want to be, so our minds will be full of ideas about how we can support you in your endeavours.
We’ll therefore discuss with you our analysis of your current position, and outline our initial thoughts and recommendations as to what your financial plan could look like, when looking to achieve your goals.
Step 4 – Recommendations (How to get there)
So now we know where you are and where you want to be, and we’ve already discussed what your likely plan could look like.
It’s only right then that we show you your Personal Financial Plan which maps out the journey of your investments towards the destination of your aspirations.
We discuss with you your current income and expenditure, your assets and liabilities, and how your existing finances can be best utilised towards the achievement of your financial goals.
Your Personal Financial Plan will also agree the cost of achieving your objectives, and now we ask your approval and confirmation of the plan.
Step 5 – Implementation (Set the wheels in motion)
It’s time to implement the plan. Every course of action we have recommended and you have agreed to now put into motion.
Step 6 – Review the Plan & Progress Updates (How it is going)
Now the plan is in full swing, it’s time to take stock. The purpose of regular monitoring of your Personal Financial Plan is obvious, to enable you to clearly see progress towards reaching your financial goals, and if necessary, for us to make any course adjustments that may be required.
Working closely with you we will explain overall how the plan is going and agree with you any modifications to keep it on track towards the achievement of your goals.
If required, review dates will be agreed and can take place annually or more regularly if required or requested (ongoing fees will be agreed as to which service level is required).