My financial planning philosophy
Financial planning done properly is about much more than money.
I believe in empowering people to live their ideal lifestyle for the rest of their lives, thereby making them richer in every sense of the word; not just financially.
These are the things I stand for:
- Money is the means to the end, not the end itself. Our money should be working for us; we shouldn’t be working for it.
- Our clients are people with unique hopes, dreams and fears. It isn’t just about money. It may seem an obvious statement, but too many financial professionals have it the wrong way around.
- The greatest value a Financial Planner can give is helping their clients live their ideal lifestyle for the remainder of their lives without money worries.
- Financial planning done properly, in the true interest of our clients, is the most noble profession. Done badly, and for the adviser’s own gain, it is one of the most insidious.
- Fees should be transparent, fair and reflective of the value provided. Fixed fees are the best way to ensure this.
- Learning is lifelong and about more than obtaining technical qualifications.
- Until we really know you, we can’t possibly provide suitable advice.
- If we help our clients achieve what matters most to them, we will be able to achieve what matters most to us. The reverse doesn’t automatically follow.
- Financial planning is more than a title or job description. It is a philosophy and an ongoing process.
These are the things I stand against:
- Selling financial solutions just to make a sale and get paid.
- Financial advice that only makes product recommendations. That is akin to a doctor prescribing medication without a thorough diagnosis.
- Investment advice that is based upon choosing the ‘best’ fund or fund manager. There is no such thing as ’best’.
- A belief that anyone can time investment markets or consistently beat an index. Anyone who states they can is lying to their clients.
- Any professional who spends more time talking than listening. They can’t possibly know their clients or what they truly want.