Our financial planning process

An informal introduction

This is where we start getting to know each other.

There will be some regulatory paperwork to take care of, but most of the meeting is relatively informal as we both start to understand whether we are the right adviser for you.

We’ll take this opportunity to learn more about you; your current financial concerns, as well as your longer-term aspirations and objectives. If time allows, we might start to discuss your existing pension, savings and investments too.

Of course, we’ll also answer any questions you have, as well as explaining more about how we get paid.

We will cover the costs of your first meeting.

Preparatory work

In between our first and second meeting, we will ask you to undertake some ‘homework’. This will help us discover more about you, including your assets and liabilities, your income and expenditure, as well as the level of risk you are prepared to take with your capital.

At the same time, we will research your existing pensions, savings and investments so we can understand the progress you have made so far to achieving your financial objectives as well as learn about any guarantees or enhanced features your existing holdings may have.

Follow-up meeting

At our next meeting, we will discuss your existing pensions, savings and investments in the context of your aspirations and objectives.

A large proportion of the meeting though will see us beginning to construct your financial forecast.

Using financial forecasting software, we will show you:

• How close you are to meeting your future financial objectives
• Where any shortfalls lie
• The effect different scenarios and events will have on your financial future

We will then start to discuss the options you have as we begin to formulate your financial plan.

It’s only at this stage do we need formal confirmation from you that you wish to engage us.

Our formal recommendation

This is where we present your financial plan and our recommendations.

Our comprehensive report covers:

• Your aspirations and objectives
• The progress you have made to date
• A financial plan to take you from where you are now, to where you want to be
• Formal recommendations in respect of your existing pensions, savings and investments.

If you are happy with our recommendations, we will move to the implementation stage. You will of course have the opportunity to ask questions, give feedback and request any changes you feel are necessary.

Implementation

If the plan we have produced requires the use of financial products such as pensions or ISAs (Individual Savings Accounts) we will process these applications.

Our client service team will keep you up to date with the progress we are making towards implementing your plan while formally confirming our advice.

Ongoing service

With our ongoing service, we’re there with you every step of the way on the journey to your goals. Something our clients tell us is invaluable in providing a sense of security and confidence about the future.

As we all know, even the best-laid plans can be blown off course. In order to protect you from factors that may negatively impact on your plan for the future, we regularly review your arrangements to check that they are continuing to best serve your needs. By monitoring your progress in this way, we can act quickly to get you back on track if life knocks you off course.

We offer different levels of service for you to select based on your specific requirements, particularly whether you wish to grow your assets or take an income.

Central to our review process are regular meetings, which take place either six-monthly or annually depending on your requirements.