Financial advice is a very personal thing and by its very nature means that we need to know you, your views, thoughts and personal objectives. Clarity and understanding of a client's situation is vital if we are to create an holistic plan which is tailored to individual requirements.
Once we have established your existing financial plans and noted these details for our records, we can start to build a comprehensive strategy or plan which reflects those conversations and upon which we can build. Obviously, like any journey the destination can be reached by choosing a number of different routes. Our planning tools enable us to show you these different paths and clearly outline the pros and cons of each journey, helping the advisor and you the client to ‘test drive’ each route so that we can decide which journey suits you the most. This individual planning process puts us both on the same page and confirms we are clearly working toward the same goal.
During this journey, we will advise you in which direction to travel, guiding you along the way. To do this, we deal with a full range of regulated investment and pension plans, from simple savings arrangements such as ISAs to more sophisticated plans such as Self-Invested Pension Plans (SIPPs), Enterprise Investment Schemes (EIS), Investment Bonds, General Investment Accounts, Trusts and Structured Products. This list is of course not exhaustive, as Independent Financial Advisers we are able to advise from the whole of market.
We also offer a full protection planning service which enables clients to discuss their protection requirements. Our planning advice can help give protection against Accident, Sickness and Critical Illness as well as death.
We always aim to build long-standing relationships with clients, ensuring that they remain at the centre of the relationship while we fully support their individual challenges and aspirations. To achieve this, our fee structure has to provide value for money and is entirely transparent. We do not believe that our clients need to take aggressive stances when it comes to their planning arrangements. Sensible and careful planning combined with on-going service and management is key to our offering.
All our first meetings with clients are at our expense, and there is no commitment to take matters further. We always introduce ourselves as Warriner & Co so you know exactly who you are dealing with and the processes that we follow. Our primary goal at any first meeting is to establish if we can help you as well as to ensure that we could both work together in the future.
We typically find that clients have something on their mind which triggers our meeting and starts off our initial conversation. All our clients have financial services products of one description or another whether it be an ISA, mortgage, pension plan or some form of protection from a previous or current occupation. Most of these clients don’t fully understand what they have or what it’s doing for them. Is it enough? How much risk are they taking? Is it tax efficient? Is it value for money?
In the first instance, we take the some time to explain to clients what their current position is and this forms the 'Base Plan' upon which we can build.
Helping you picture where you stand right now and where you could get too with careful planning and investment is vital. Much of this depends on how old you are, how long your career might last and of course how successful you are or will become. We call this starting point your 'Base Plan'. A big part of planning is about listening to you and your family's goals, in fact, this process is vital to understanding your requirements.
You may want to do a number of things during and after your careers which need to be planned and accounted for. To do this, we use our sophisticated financial planning software to create for each client a bespoke cash flow plan. We use this as a starting point and can establish a number of 'What if' scenarios which focus on your specific requirements. We compare and contrast alternative ways of achieving your goals so we can choose the best route for you given your individual circumstances. These ‘What if' scenarios are created by us to give you a choice and serve to highlight possible ways of meeting your objectives. By clearly explaining each journey we will identify the route which best suits your situation, attitude to risk and a variety of other essential features. The situations we most cover are; 'What if' I have a long and successful career ending in my late 30’s? 'What if' it ends earlier than I planned? Would I have enough money? What will be my choices and what would these look like in contrast?
We can help you answer all these questions and more. The Cash Flow Planning video link in the Blog section of the website will give you a better understanding of some of the questions clients ask us and how we can demonstrate their effects on your potential situation.
Our clients are happy to recommend us and we have included details of client testimonials from individuals and families who we have looked after for two and occasionally three generations, providing investment, life assurance, pensions and mortgage advice. In addition to our core services, we can provide guidance on a broad range of financial areas and introduce our clients to specialists, where we do not consider ourselves to be appropriately qualified or experienced.
Our client relationships can be summed up in four words: Trust. Truth, Commitment and Transparency
Any research and analysis starts with a clear understanding of what you are trying to achieve. The time invested in the first elements of our process pay large dividends at this point. Our aim is to establish which services or products best enable and suit the client to move closer to their objectives. In simple terms we look at a range of potential solutions which can help you achieve your goals. We consider a holistic view of your finances to ensure that each indiviual element of your financial planning fits together, creating the best possible outcome for our clients.
To use an analogy; when you decide to make a journey you could use a variety of possible transport. A car, train, motorbike, aeroplane or bicycle are all possibilities. Which one would you choose or indeed which combination? The answer would depend on a number of factors, the length of the journey, the possible risks of each mode of transport, the relative costs, time and complexity and the effort it takes to make each trip. The list of important factors is a long one. These discussions narrow down the possible solutions which are applicable to your circustances and enable us to analyse a range of important investment fundementals which we tailor to suit your requirements, objectives and personal situation. There are many vehicles which could potentially be used to get you to your destination, our job is to investigate and select the most appropriate solution which matches your personal circumstances and requirements.
We hope that you can see that we have a significant amount of work to do when researching the marketplace for both the appropriate ‘vehicle’ and the funds or underlying features which sit inside them. We use a range of sophisticated software packages to analyse a client’s current circumstances and then begin the sieving and sifting process which either includes or excludes possible options for the client. The aim is to plan the journey in advance so clients can gather the greatest understanding and expectation.
We normally arrange a further meeting to test our thought processes and analysis as well as show our research and any draft recommendations. This opportunity gives clients time to think through the planning points we raise and importantly gives client's time to think trough the planning points we raise and importantly gives the client time to ask questions or request further information. Making any financial decision is important, and it is vital that you understand how they fit into your individual circumstances. This is why we ‘test drive’ any solutions we create using our Cash Flow modelling software, giving the client the opportunity to see how our recommendations work given their particular circumstances and objectives and give a further opportunity to clarify any points raised.
After we have agreed on the range of proposals and their suitability, we will confirm these in writing to you. We would usually meet to complete any paperwork and to confirm the details in the written report.
At this stage our clients have already discussed and been through the details of the report with ourselves, however, should there be any further questions then we are always happy to answer them.
We will also confirm with you the required level of on-going service you require. Our service options very much depend on the clients circumstances and the range of investments the client has to discuss. It is important that all clients are kept up to speed on a variety of factors which in turn may alter the outcome of their financial plan. We always use our on-going servicing as an opportunity to discuss not only the current investment but any future plans, change in circumstances or any requirements which may have an effect on future planning. This constant communication gives us the most up to date detail so we can plan, amend and review your own Cash Flow plan.
All providers of financial services require a number of application forms as well as supporting documentation to be submitted. We will ensure that this paperwork is gathered together for you from the relevant provider(s) and that we guide you in its completion.
We will then copy and process any documents submitted to the various contacts and service providers of the companies we have chosen as part of your recommendation. Once we have done this we monitor any responses from the providers and follow up on any further requests for information.
We see this through to completion and ensure that any confirmation paperwork or policy documentation is provided to you promptly.
Clients benefit from a range of servicing options to ensure their financial plans continue to remain on track. Clients nearly always prefer face to face meetings to go through their financial plans and to discuss any change to either current or future circumstances.
Regular dialogue in both directions ensures that both the client and the advisor are kept abreast of any planning opportunities which come to the fore. Financial services legislation, budgets and tax year ends are always key times during the planning year and our clients often want us to see them well in advance of any possible changes. This open and service driven relationship pays many dividends over time and enables the client to benefit the most from using their personal tax allowances and the management of their financial affairs. We continually update the Cash Flow plan developed for each client.
Clients often ask us to check if decisions they are thinking about will affect any of their current planning. We are always happy to have these conversations and meet up to discuss any issues which may arise
EIS’s and VCT’s invest in assets that are high risk and can be difficult to sell such as shares in unlisted companies.
The value of the investment and the income from it can fall as well as rise and investors may not get back what they originally invested, even taking into account the tax benefits.