10 Ways We Can Add Value When Working with Busy Professionals
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Working with Busy Professionals
Having worked with busy professionals over many years, I know how hard it can be to find the time to deal with your personal financial planning. The constraints on your time are enormous with work and family commitments and often financial planning can get neglected.
You probably already know that being proactive and starting early are some of the key steps to successful financial planning and I thought I would share with you ten ways that we have helped busy professionals over the years:
#1 – Technical Excellence
As a busy professional the last thing you want to be doing is researching the latest changes to pension and investment rules. Our job is to be aware of the latest rules and regulatory changes which means that we can explain issues such as complex pension rules succinctly, setting out how they may affect you, the options you have and then helping you make the best decision.
#2 – A Sounding Board
Many of the busy professionals we work with value having someone at the end of a phone or email to discuss financial planning matters and who will respond promptly and effectively to any questions or queries that they might have.
#3 – Awareness of the Bigger Picture
We help busy professionals see the bigger picture and how they can achieve their longer-term goals. We collaborate with our clients to design and implement a long-term disciplined investment strategy. This helps clients to avoid making ill-timed investment decisions and enables them to view short-term volatility as an investment opportunity.
#4 – Tax Efficiency
We ensure that our client’s wealth is managed as tax efficiently as possible by using ISA allowances, Pension Annual Allowances and annual CGT exemptions. We will always take into account the tax status of a client’s spouse and hold assets accordingly. In some cases, we may also use more specialist tax efficient investments where appropriate to do so.
#5 – Ensuring that the Client and Their Family are Protected
We provide busy professionals with the peace of mind that their family is protected in the event of their death. We also ensure that they and their family are protected in the event that they are unable to work through accident or illness.
#6 – Intergenerational Planning - Parents
Many busy professionals take on the responsibility of looking after their parent’s financial planning especially if their parents are elderly. Often, we are asked to review an elderly parent’s estate planning position with a view to reducing a potential Inheritance Tax Liability.
#7 – Intergenerational Planning – Children
Increasingly more and more busy professionals are looking at ways to help their children financially. For example, they may want to help their children with a deposit for a property in the future and we can help by setting up a Junior ISA on behalf of the children. Alternatively, some clients may want to provide a kick-start for their children’s retirement provision, and we can consider Junior SIPPs.
#8 – Liaising with Other Professional Advisers
Often, we are asked to liaise with a client’s professional advisers. Typically, this will involve liaising with, say, an Accountant to provide them with information for an annual tax return. Many clients welcome this as it is more efficient and can save the time and effort of searching for the relevant information.
#9 – Accessing Our Network
We are often asked for referrals to professional advisers, for example, a Solicitor to draw up a Will and Lasting Power of Attorney or an Accountant to file annual tax returns. We use a number of professional advisers and are more than happy to make a referral on your behalf.
#10 – By Being Your Trusted Adviser
We aim to be your trusted adviser guiding you on your financial planning journey and helping you achieve your longer-term goals. We take this responsibility very seriously and by being your trusted adviser we aim to reduce your stress levels, provide you with reassurance that you are on track to achieve your desired lifestyle and to provide you with clarity and direction when making financial planning decisions.
We believe that, for busy professionals, having a trusted adviser on hand can add significant value.
Contact Us
If you would like to explore ways that we can add value to your financial planning situation, please hit the ‘Book a Meeting’ button on the ‘Home’ page or visit the ‘Contact Us’ page. Alternatively, feel free to reach out via LinkedIn.