A Typical Client...
When one decides they need help from a financial adviser, this can be a little daunting. Often, they have no idea how advisers work and what’s involved in the process.
What makes things worse is that, for most people, the subject of retirement, pensions, investments, tax, etc. are all a little bit beyond them.
It can be quite intimidating and I like to think I’m sensitive to this and I try to adapt to the way a person approaches things so they feel as comfortable as possible.
The New Enquiry
What sort of issues would a potential new client have? Why would they pick the phone up to speak to me in the first place? Here’s a typical rundown:
They’ve got a bunch of pensions and, maybe, investments, that they’ve built up over the years and they don’t fully understand them (if at all!).
They’re generally in their 50s and have a sense that retirement’s appearing on the horizon and they’ve started thinking about what it will look like.
They want to know if their financial arrangements are ‘any good’ and if they should be doing something ‘better’ with them.
Is their money set up as efficiently as it possibly could be or are there things they could / should be doing to get more out of it?
Ultimately, they want to know how they’re positioned for retirement and if they have enough money to live the lifestyle they want for the rest of their life without worrying about running out.
In my opinion, these are all pretty big questions and can be difficult for someone to answer on their own. I think the expression ‘not being able to see the wood from the trees’ probably applies.
I won’t go into what it is I do to help these people but, rest assured, my process is specifically designed to address all these issues and bring clarity to their thinking in a clear and straightforward way.
By the time I’ve finished with them, they’ll feel much clearer about their financial future and their money will be organised to give them the best chance of success. It’s a valuable service to them.
Existing Clients
The work, however, doesn’t stop there. Putting together a plan of action for a client is one thing. Ensuring they stay on track to achieving can be another matter!
I don’t need to tell you that life’s unpredictable. What we think might happen often doesn’t and this means we could need to change our plans, perhaps drastically!
If you’re an existing client of mine, you’ll be familiar with what I do for you on a regular basis. This includes things like:
Meeting with you regularly to update your current situation and to check in on how you see things panning out in the future. Have you changed your outlook or your goals?
Taking account of any changes in your life or in the world outside that might impact on your future financial security. It’s amazing how much things can change!
Recommending any changes I think are necessary to your financial arrangements to make sure you’re still in a strong position to get where you need to be.
It’s all about keeping you and your money safe so you don’t have to worry about it. That’s what you pay me to do. I want you to focus on having a great life!
What I Don’t Do
I mentioned earlier that I don’t work with everyone and anyone. Over the years, I’ve honed my skills (if that’s not too much of an exaggeration!) and decided where I can be of most help to clients.
I’m not one of those advisers that does everything. For example, I wouldn’t know the first thing about mortgages and I also don’t organise insurances, income protection or equity release.
In my view, these are all specialist areas and need specialist advice. Being a ‘jack of all trades’ can be dangerous, for me as a businessperson and also for my clients!
You see, there are consequences to giving advice in these areas. Consequences that could have a big financial impact over the years. You want to deal with someone who does this stuff ALL the time.
If you work with me and, if we’re a good fit, you need to feel that my skills are perfect for what you need me to do. I think that makes our relationship far more meaningful.
Anyway, that’s me done for now. I thought you might find it useful to understand how I work and I hope I was right!
Until next time…