Convenience, adding value and why working with a highly qualified financial planner makes financial planning less daunting

Financial planning can be daunting. It can be time consuming. Engaging a financial planning, like me, comes with a price – which could be perceived as high. Yet, staying in your Comfort Zone where a settled method of working feels safe and requires little effort can yield only barely acceptable results. This may come with a price – possibly a heavier one too. As I mentioned in my last blog, a recent study by Vanguard entitled Adviser’s Alpha: Putting a value on your value, concluded that by working with an adviser, the potential value added to a client, by using a financial adviser, relative to a do it yourself client experience is around 3% pa in additional net worth. Procrastination, could be a major contributor to NOT achieving financial success.  Is this a price you want to pay?

As financial planners we deliver, convenience, for our clients. Convenience is “the state of being able to proceed with something without difficulty”. Providing convenience improves our clients’ probability of lifetime financial success. Do not underestimate the added value that convenience provides for our clients. So, what does convenience look like in practice. We help our clients to:

  • Be more decisive; the cost of delaying decisions, can over many years have an incredible effect on our client’s bottom line. By starting savings earlier, our clients could receive a pension 40% higher than if they waited 5 years and made the same monthly payments or 107% higher than if they waited 10 years and made the same monthly payments.
  • Save time; are you searching for the elusive ‘work/life balance’? Financial planning takes time. We save our clients hours and hours of research, analysis, decision making and implementation time. This makes it easier for them to focus on; the aspects of their life they enjoy most and/or their work which helps them create more wealth to enjoy throughout life and protect their future. Improving your own human capital is usually the most productive way to deliver financial success.
  • Access our network; we have a vast network of trusted professionals, across many disciplines, that we make available to our clients, potentially saving time and money and helping us deliver a holistic concierge service for our clients.
  • Maintain financial control; being in control of your financial future helps to lower stress, achieve lifetime financial success and to have little regret about not making the most of yourself and/or your financial resources. With us working on your side as your trusted counsel we continually collate, manage and analyse your financial resources. Having us at your “financial eyes and ears” helps you/us to make meaningful, well thoughted out and informed financial decisions. Putting you firmly in control of your financial future.
  • Improve their financial wellbeing; defined as having financial security and financial freedom of choice, in the present and in the future. We deliver this for our clients and have a good track record of success.
  • Leave a continued legacy; not only financially but in many other ways too. Creating a masterplan to achieve financial wellbeing enables our clients to ensure they can leave a lasting impression on the world either through succession planning, philanthropy or through their actions and work.
  • Adopt new technologies; advancement in technology is moving fast. We are at the forefront of financial planning to capture the best parts of new fintech to benefit our clients whilst they are on the go.
  • Think and act like a business. Every successful business has a Finance Director, acting as an important part of the team. We act as our clients own private Finance Director, with responsibility for their financial health and wellbeing, protecting and growing their wealth and overall providing We combine operational and strategic roles, manage financial control functions, and establish a financial masterplan to deliver profitable long-term growth and protection of our clients’ wealth. We are an important member of our client’s team helping them to be the driver of their life instead of a feeling like a passenger.
  • Sleep better at night, knowing we are always on their side looking out for them.

The net effect of providing convenience for our clients is almost always worth the investment in us. Ultimately it is an investment in yourself and your future. If it wasn’t a worthwhile investment, we would tell you anyway.

As I get older, I have come to realise what I am good at and what I am not so good at. As a Chartered Financial Planner (AFPS), a Registered Life Planner (RLP®) and a Certified Financial Planner (CFPᵀᴹ) – the only globally recognised mark of professionalism for IFAs – it occurred to me that I have passed over seventeen individual exams, undertaken at least 1,500 hours of study and completed over a years’ worth of coursework. The AFPS and CFPᵀᴹ designations are equivalent to having, two University Batchelor degrees. Notwithstanding, over twenty years of ‘on the job’ experience. As anyone, who has completed a University degree, would tell you it is stressful, time consuming and hard. I have gone through this, twice over, to provide my clients with the convenience that they don’t need to. They can access years of financial planning expertise for a fair investment price.

A few years ago, a particularly fee sensitive client didn’t see the value in working with me. Her comments were that she will “just read up more and work it out”.  I accepted this. After all I encourage clients to undertake certain aspects of their financial planning themselves, if advisable and cost effective to do so. This is perfectly understandable and who knows he may do an overall better job. Who knows? However, it is a matter of value not cost. Are you willing to take the risk that reading up will give you the years of expertise that I have amassed? Is the risk worth paying?

So, here are some questions I therefore pose to you:

  • Do you have the time or inclination to read up and work it out?
  • How much do you value your time?
  • Will working it out be good enough?
  • How will you mitigate the risks involved with DIY financial planning?
  • What does convenience look like for you?
  • How much do you value convenience?

In the UK, I am one of only; 4,000 Chartered Financial Planners, 915 Certified Financial Planners and 94 Registered Life Planners. Out of the c26,000 UK registered financial advisers I am one of the top 3.5% of UK qualified advisers. Compared to a traditional financial adviser who offers a one-dimensional financial advice product selling approach which creates a conflict of interest, what I do is significantly more valuable.

As a highly qualified and experienced financial planner, I ensure the advice, service & on-going support provided is of the highest quality & based on researched needs. I have a strict Code of Ethics I have to adhere to and am continually tested to make sure I meet rigorous international competency, ethical & professional practice standards. Having these qualifications makes it more convenient for you to choose me to assist you. You will be in safe hands. Make life convenient for yourself and get in touch on 07563529918 or email me at sam@cervellofp.co.uk

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