What does a Financial Planner do? Part one.

What does a Financial Planner do? A three part blog series

Part one: What does a Financial Planner do? How much is enough?

If you ask ‘What does a Financial Planner do?’, 9 times out of 10 the answer will contain one of the words; ‘investment’, ‘tax’ or ‘product’. Technically this is correct, we have significant expertise in all 3 of these areas, but this is just the tip of the iceberg. Building upon this iceberg analogy, in this blog series, we look at what sits below the surface that really makes a difference to our clients. There are three distinct sections below the surface and the deeper the iceberg goes, the more in-depth we get. This is what helps make sure our advice is deeply personal and tailored to them.

In our first blog we look at what comes just below the surface, where we use our financial planning software to focus on how much is enough, gaining an understanding of a client’s deeper motivations and what they are looking to achieve in the future. We map out future spending, and how this may change over time, using conservative assumptions to project these forward. By building and then stress testing the plan, we can ensure it is resilient in all different circumstances. This provides peace of mind and reassurance to a client that they can achieve everything they want to in their life.

When we first start working with a client, we use our advanced financial planning software to delve into the critical question of "how much is enough." This process goes beyond numbers; it involves gaining an understanding of a client's deeper motivations, aspirations, and the specific goals they aim to achieve in the future. We begin by mapping out their anticipated future spending, taking into account any potential changes and fluctuations over time. Using conservative assumptions, we project these financial needs forward, creating a detailed and realistic forecast.

The next step involves building a comprehensive financial plan that serves as a robust foundation for our clients’ future. However, we don't stop there. We subject this plan to rigorous stress testing, simulating various scenarios and potential challenges that could arise. This thorough evaluation ensures that the plan remains resilient and adaptable under different circumstances, whether they involve economic downturns, unexpected expenses, or changes in personal circumstances.

By taking these steps, we provide our clients with invaluable peace of mind and reassurance. They can rest assured that their financial plan is not only well-constructed but also robust enough to withstand unforeseen events. This approach empowers clients to confidently pursue their life goals, knowing that they have a solid and flexible financial strategy in place to support them. Ultimately, we aim to ensure that clients can achieve everything they desire in their lives, with the security and confidence that comes from careful planning and thoughtful foresight.

By focusing on the areas of advice below the surface, we can ensure our client's plan is focused and robust, capturing all of what is important to them. Our advice will be technically sound, but it will also be uniquely personal to our clients, tailored to their deeper motivations leading to a successful outcome. The investment, tax and product knowledge are key, but they are also simply the structure which allows a client to focus their money on what makes them happy.