Below are three examples of the benefits of an on-going financial planning relationship.
In today’s modern world of ever increasing choice my experience is many of us crave simplicity. Have you ever been to a restaurant and the menu is so long that you can’t decide or once you order regret you did not order something else. With a much smaller menu you can make your choice and get back to the evening with your guests. In the same way a financial planner can simplify investments/pensions and give them a consistent portfolio/philosophy. Simplicity does not mean simple however, as the underlying portfolio may have many thousands of holdings.
Can you recall a time when someone really listened to you and was not just waiting for their turn to speak? I expect it was a rewarding experience. Financial Planners who really listen can help arrange their clients’ money in a way that improves the life their clients want to lead. But only by really listening first can this happen.
I receive the same service from the garage who MOT my car each year. I don’t need to worry about when the MOT is due, what work is needed, the quality of the workmanship, etc. This creates mental space that results in a better day to day experience. We meet with our planning clients annually and follow a specific process for these meetings (updating goals/objectives, then the financial plan, then check the portfolio is correctly aligned). In between our investment committee meets twice yearly and reports it’s finding to our clients. Feedback has been this consistency creates peace of mind.
We believe these three areas create significant but intangible value which is not directly linked to market performance (which can’t be controlled).
This article should not be considered investment advice or an offer of any product for sale, it contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular, strategy or investment product. Information contained has been obtained from sources believed to be reliable, but is not guaranteed. Past performance is not an indicator of future results.