The Financial Planning process, if strictly followed, increases the chances of you meeting your financial objectives, achieving your lifestyle goals and hopefully, financial independence.
Here, we summarise the approach we take in creating and monitoring your Financial Plan:
Stage 1 - Establish the Basis of Our Working Relationship
We will:
- Learn as much as possible about you, your personal circumstances, your financial position and your objectives, in order to ascertain how we may be able to help you
- Clearly explain our fees and document the services we feel would be appropriate for you
- Define both our and your responsibilities during the initial financial planning engagement
- Seek to agree on how long our professional relationship will last and on how decisions will be made
Stage 2 - Establish Your Values and Goals and Obtain All Relevant Information
We will:
- Seek to identify and understand your personal values and life goals
- Discuss and mutually define the time frame for the achievement of your goals
- Request any important information about your financial situation
- Ascertain your attitude towards investment risk using our psychometric risk-profiling questionnaire
Stage 3 - Gap Analysis and The Creation of your Financial Plan
We will:
- Analyse your current situation and consider how achievable your goals are
- Taking an all-encompassing view of your affairs, construct an initial plan to help you meet your goals as fully as possible
Stage 4 - Present Your Financial Plan and Our Recommendations
We will:
- Discuss in detail your Financial Plan, which will incorporate a lifetime cash flow forecast, as well as an analysis of your assets and liabilities, income and expenditure, your preparedness for possible disasters, your tax position and much more
- Discuss what compromises may be required and what actions might be taken to help make your ambitions a reality
- Outline our recommendations as to how your existing and future finances can best be utilised
- Explain technicalities and answer any questions you may have, in order that you are in a position to make informed decisions
- Respect any concerns you might have and revise our recommendations if required
Stage 5 - Implement the Financial Planning recommendations
We will:
- Discuss and agree with you how the accepted recommendations will be implemented
- Confirm whether you would like us to co-ordinate the process with any of your other professional advisers, including your solicitor or accountant
Stage 6 - Deliver Chamberlyns' Wealth Management Service
We will:
- Deliver our Wealth Management service, which incorporates a review of your Financial Plan and investments on at least an annual basis and gives ongoing consideration to strategies for the creation, preservation, distribution and enjoyment of your wealth, to meet your specific objectives
- Strive our utmost to help you reach your goals and maintain your desired lifestyle in the most efficient way possible
Please feel free to contact us if you feel you would benefit from working with Chamberlyns.