What prompts a meeting with a Financial Planner?

The reasons for arranging a meeting with a Financial Planner are many and varied.

Historically, we would talk about the ‘Four D’s’ as the biggest drivers of financial advice; these big four are death, debt, disease and divorce.

As morbid and miserable as these drivers were, they often gave individuals and families a reason to seek out professional advice, usually at a difficult time in life.

Thankfully, the drivers of advice seem to have moved on to encompass a much more extensive range of reasons, many of them happy and positive!

A recent example

One recent example involved a client initially wanting to explore some questions about a trust investment and her pensions. Our conversation developed into a broader conversation about what they wanted to get out of life, and culminated in the creation of a comprehensive financial plan.

She told me that there was a light-bulb moment when all of the parts of her financial plan came together; a sentiment we often hear from clients when presented with a financial plan for the first time.

An important part of the financial planning process is the creation of a lifetime cash flow forecast, which allows clients to see how different decisions or life events might influence their wealth in all stages of life. We create these forecasts using reasonable assumptions about the future, and keep them under regular review as external factors including investment returns and price inflation change over time.

When we create a financial plan for someone who needs to make important choices about their life, such as whether to give up a particular job so they can retire, or downsizing to a smaller property, the plan offers a high degree of comfort that decisions are sound.

I particularly love when the financial planning process opens eyes to the fact that clients can afford to do the things they want today. All too often, we’re scared to make big decisions because of the absence of certainty around our finances. The financial planning process introduces that certainty.

It’s especially satisfying when that certainty is originally triggered by a conversation about a small part of the financial planning world, such as a trust investment or an old pension plan.

What are some of the big current or upcoming events in your life that could prompt you to call one of our Financial Planners?