Phase 1 - About you
We meet together to discuss your personal circumstances and your current financial situation. We'll go into detail so that we can draw up a complete picture of where we are now, and where we want to arrive. We'll ask about you, your occupation, your savings & investments, your mortgage, your current liabilities and your tax position, and we'll explain how all of this information builds a profile which will help us to formulate our plan.
Phase 2 - Your goals & ambitions
Next we discuss your objectives and your aspirations, as well as any concerns that may arise. We'll discuss risk and reward, and your attitude towards investment risk, as this feedback from you will enable us to construct an investment portfolio which is a major part of the plan. You'll see as we move forward in our discussions how all this fits into place in your personal plan and agree the likely cost for our advice.
Phase 3 - Analysis
We'll discuss with you our analysis of your current position, and outline our initial thoughts for the plan. We'll present our recommendations and actions required for you to achieve your goals.
Phase 4 - How to get there
So now we know where we are and where we want to be. In this phase we present your Personal Financial Plan which maps out the journey to your destination, and we establish the best and most time-efficient route to get you there. We discuss with you your current income and expenditure, your assets and liabilities, and how your existing finances can be best utilised towards the achievement of your financial goals. Your Personal Financial Plan will also agree the cost of achieving your objectives, and now we ask your approval and confirmation of the plan.
Phase 5 - Implementation
It's time to implement the plan. Every course of action we have recommended and agreed with you is now put into motion.
Phase 6 - Review the plan & progress updates
If required, review dates will be agreed and can take place annually or more regularly if required or requested, ongoing fees will be agreed as to which service level is required. The purpose of regular monitoring of your Personal Financial Plan is to enable you to clearly see progress towards reaching your financial goals, and for us to make any course adjustments that may be required. Working closely with you we will explain overall how the plan is going and agree with you any modifications to keep it on track towards the achievement of your goals.