As financial planners, we know how important it is to get to know you. It’s an ongoing mission to make sure we understand what you need from us now, as well as how your life may change in the future, so we can meet your requirements today and anticipate your needs tomorrow.
Our survey results in Summer 2020 confirmed that our clients value empathy, peace of mind, consistency and continuity and a personalised financial plan most.
However, next on the list of results, drawing in fifth place, were cashflow modelling, independence and “simplify”. So, we focus on these elements of our service in this week’s article.
If you’re already a client, you’ll know what we mean by cashflow modelling. If not, we’re talking about drawing up a picture of your incomings and outgoings, not just now, but looking ahead to the future. When we plan your future with you, one of the first steps is to be sure about what you’re working with and what you’re likely to have in the years ahead. Planning for the future without cash-flow modelling is like setting out on a car journey without knowing what’s in the tank. You might get there, you might not. Knowing what you’re working with means we can help you to focus on what you need to do more of (and less of) to keep you on course for the future you want.
Understanding what you’ll need to live the life you really want is part of independence – the ability to plan a future in which you’re able to spend your time as you want without a shortfall and retire when you want without running out of money. To do that, you need to have your life goals in place, and we need to understand them. You’ll notice it’s not the first time we’ve mentioned your goals, and that’s because everything we do is built around them. That’s what real financial planning is – it takes stock of the life you really want and sets you on the best course to achieve it.
We are proud of our status as independent financial advisers. Unlike some advisers, we can advise on a breadth of product types and we’re not limited in the companies that we can recommend. Our independent status means that we work for our clients rather than for providers and can recommend the products that really do best suit their needs.
Finally, a few words about ‘simplify’, because there are two sides to this. First, the simplification (or rationalisation) of your financial picture as it stands today. Some clients come to us with a well-ordered set of finances to work with, and others might show up with two bags full of paper. Either way, we’re here to bring order to what you present us with. Once we’ve worked together on bringing all your finances into one clear picture, we’ll work hard to keep it that way.
The other aspect of simplification is the way we explain things. When you talk to us about your finances, we’ll always say exactly what we mean. You’ll always leave with a clear understanding of where you are and what you need to do.
This video, featuring our clients Mark and Alison Chamberlain, gives an excellent insight into all three of these areas and what it’s like to work with Jane Smith Financial Planning: