Announcing I’m a financial planner in polite company is like inviting the elephant into the room. When I’m asked what I do, I receive a wry smile and the conversation moves along swiftly.
People don’t expect our role to be interesting or personally satisfying, but then they haven’t been party to the conversations I’ve had with clients, which in some cases, have resulted in life changing decisions.
Focusing on the future
The onset of the Covid pandemic and the resultant lockdowns gave some people the gift of time – time outside of their normally busy lives to reflect on the future and focus on their finances.
Although we had to adapt our traditional approach to meetings, relying on phone calls and Zoom or Teams instead of the usual face-to-face sit downs, my colleagues and I continued to assist existing and prospective clients and our underlying advice process remained the same.
Through in-depth discussions, we are able to piece together your current financial position. This involves discovering long lost, sometimes forgotten, pensions, savings or investments to build up a full picture of your circumstances. Most importantly, however, these conversations are about exploring what you want to achieve, your goals and aspirations.
Next, we undertake a thorough and robust analysis of your financial plans, using a professional cashflow modelling tool. This is invaluable in instilling confidence in clients that they can achieve their dreams, or at least enhance their lives.
Achieving your goals
Early in the pandemic, I spoke to two ladies who, on the face of it, were in very similar financial positions. They had both enjoyed long careers with the NHS, but were struggling to cope with the increased pressures they were under at this very stressful time and wanted to retire.
After reviewing their savings and investments, I looked at their income streams, in the form of pensions, against their short, medium, and long-term financial requirements. I was able to reassure both clients they were able to finish work and enjoy a comfortable retirement.
One of the ladies wanted to spend more time with her children and grandchildren and the other wished to concentrate on her crafts and hobbies. She has since taken on an allotment and has found growing her own fruit and vegetables extremely rewarding.
I saw another client who was employed as a marketing manager. The company she worked for was restructuring and she was uncomfortable with its change in direction. After receiving an inheritance that she was able to invest, she achieved the financial security to set up her own gardening business. Turning her passion into a career has given her job satisfaction and the flexibility to spend more time with her young son.
Helping clients is never a chore
Working from home during the pandemic meant different things to different people. It caused some of us to completely re-evaluate what we want from life. I think most would agree, health and happiness became much more valuable commodities.
I have spent the pandemic and the time since, helping clients achieve their goals – be it retiring early, reducing their hours, changing career or spending more time with family – and it is always a pleasure. So next time you meet a financial planner at a party, why not find out a bit more about what we actually do and why it’s a hugely rewarding career?
To discuss your plans for the future, please don’t hesitate to contact me on 07790 334087 or email: enquiries@belmayne-ifa.com
