Financial Planning Case Study

It is always heartening to have positive feedback from our clients and we recently had an email, which has highlighted the importance of having a strategic plan for your financial planning.

"I'm not sure I ever thought I would use the word "wonderful" in the same sentence as "finance", but this - at least for me - is a wonderful summary of where we are and where we need to be."  Mary  

When meeting with the client for the first time we review their current situation, including residency, domicile and all the other important aspects of their financial situation.  We discuss what the future holds for the client, their aspirations and the opportunities and restrictions that apply to their particular situation.  Before establishing a financial plan for a client we look at some "what if situations" to stress test the plan. 

The financial plan that we put together has some common elements;  flexibility, an emergency fund and consideration of the tax position.  We often also use a framework based upon timescale.

• Short Term Money   -  planned expenditure, an emergency fund, some deposit holdings as part of the overall asset allocation
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• Medium Term  -  Those funds which can be left to grow for 3 to 5 years or perhaps more.  Sometimes used to fund a specific requirement such as University costs for children.  These funds can be used to invest in a broad range of investments
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• Long Term  -   Often involving larger sums, this section includes property, pensions and sometimes business interests.

This framework provides a logical approach to what can often seem a very intangible subject.   The result,

"So, as far as I can see, we are where we need to be (to get started) faster than I thought. This is good news. Now we have a target  to work towards. Let's see how we do that.

Thank you again for a clear and succinct email that captured all our major points."    Mary

Our Financial Planning service covers all aspects from investment management, pension planning, family protection to asset protection (often working with other professional advisors) and wealth management.    If you would like to discuss a strategic financial plan for you or your business please email us