Creating a professional financial planning strategy
We make sure we take the time to understand your needs, aims, requirements and preferences before we make any recommendations – this is the process we follow.
1. YOUR INITIAL CONTACT
If you wish to discuss matters with us, then we will agree a suitable place and time to meet up.
We'll consider any financial information regarding your circumstances that you can provide prior to the meeting, which will enable us to develop a clearer picture about your particular situation. It is very helpful if we have an idea of existing arrangements like investments and pensions along with income. This is also an opportunity for you to outline the issues you want to discuss at the first review.
2. YOUR REVIEW
We assess your current financial position and help identify your aims.
At your review we provide information about our services and explain how we charge and the type of advice we offer. If there is anything you want to discuss, your review meeting is the perfect time to consider these other areas. We assess your assets and liabilities, discuss your objectives and priorities and consider your attitude to risk.
3. PREPARING OUR RECOMMENDATIONS
Using the information we obtain from you, we develop a detailed financial plan. This will be in a written report style format.
We look at whether the financial plan will fit in with your lifetime goals and make sure you are comfortable with the timescale for implementing the plan. We research the market, review different products and providers and follow up with the preparation of a document outlining a strategy tailored to your individual goals and circumstances.
4. DISCUSSING OUR RECOMMENDATIONS
We take you through our recommendations in detail.
We explain why we've chosen specific solutions and outline product features. Our goal is to ensure that you understand why we have recommended certain products or a particular advice strategy. We'll also discuss the cost of any future work and explain how you can check on investment performance.
5. IMPLEMENTING YOUR PLAN
All the necessary product paperwork is completed and processed.
We make sure that all our recommendations to which you've agreed have been implemented. We'll also liaise with your accountant or solicitor if appropriate.
6. REVIEWING YOUR PLAN
At this point, you'll agree when to review your plans each year.
The frequency and level of contact you have with us is up to you. It could be face-to-face meetings, over the phone or by email. If your circumstances change, we also need to know so that we can review what further changes your plan may require. These would typically cover life-changing events like retirement, an inheritance, getting married, redundancy, having a baby, a promotion or buying a new property – all events that may affect your finances and will require you to assess your financial planning strategy.
This process has to be underpinned by a joint commitment from both Alexander Grace and our clients in order to ensure the successful completion of their financial aims and aspirations.
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