Identify any weaknesses in your ability to build wealth.
Think about what you want to do and how much it is going to cost, especially those related to your desired future lifestyle.
Develop and implement a plan to achieve those objectives.
Decide what size Emergency Fund is appropriate to your needs.
Review all of your existing policies, ensuring you have appropriate cover and at the right price. We will discuss if any changes would be beneficial.
Construct a lifelong cash flow forecasts, showing all the money you will receive and all the money you will spend in your lifetime. The cashflows use prudent assumptions to protect against inflation and uses realistic returns.
Identify if there are any potential future cash flow problems and come up with solutions to fix them.
Decide what financial issues would arise if you or your spouse died prematurely or if either of you became disabled and in need of long term care.
Identify your risk profile and how tolerant you are to investment risk and loss. We will take this into account when developing investment portfolios suited to your requirements.
Hold an annual planning meeting to update your Financial Plan to take account of changed circumstances, including changes in relevant law and investment conditions.
A comprehensive Financial Plan typically contains:
A detailed list of your assets and liabilities with a year by year record of their progress in building up your Net Worth.
An analysis of your assets, broken down into the various asset classes and risk categories.
An analysis of your cash outflows as between different categories of expenditure.
Lifelong cash forecasts to determine if there is a danger of running out of money and when that might happen.
If there is no such danger, we will look at the possibility of you spending more on the things you love or gifting it to family members so you can see them getting the benefit from your excess wealth.
An analysis of the performance of client’s investments, with comparisons with sector averages, volatility and personal satisfaction criteria.
Details of all of your existing investments, life assurance and pension plans.
Details of agreed actions that are to be put in place to achieve your goals, who is responsible for them and when they are to be completed by so that you can achieve your objectives.