A strong work ethic. I believe hard work will get the job done. Working hard when you don’t feel like it, pushing on when it gets tough, that’s my way. And with hard work, the results will achieve their full potential. At the current time, hard work is undoubtedly the way forward whether that’s adhering to social distancing, shopping sensibly for food, or keeping up the half an hour a day exercise come rain or shine.

Creating a financial plan for someone does require knowledge and experience, but as much as this, it needs hard work. Firstly, it is essential to know and understand a person’s objectives fully. Previously I ran a portfolio of over 240 clients with assets worth over £150M, and keeping on top of everyone’s needs was an overwhelming challenge. Now I am looking for 80 clients, whom I can get to know in more detail and have more frequent planning meetings. Client meetings are the exciting part of my day, and even though the time to prepare is quite arduous at times, the planning sessions always flow better because of it. Fail to prepare, prepare to fail!

Working hard does not stop after the meeting, arguably it now starts. Ensuring the financial plan is delivered well isn’t easy, and obstacles will be encountered. I commonly ask clients if any property they bought either commercial or residential went smoothly. I’d say the majority have a speed bump along the way. It is not avoiding these that set us apart from the rest, it is how we deal with them when they occur.

Delivering unpleasant news to a client is always uncomfortable but this is part of being a financial planner. To inform someone of when something has gone wrong is all part of the job. The most skilful planners make that call to a client with the bad news and the solution. The solution will mean more work, but again, with a hard work ethic, it is simple.
When change is forced upon, it can be difficult; from a road closure disrupting a drive home, to investments falling in value. Informing a client they have to change can be equally as daunting, but during the current investment crisis, I firmly believe that some clients do need to change their tactics. For me, it would be a missed opportunity not to come out of the current crisis in better shape than we went in. Maintaining an investment until it recovers is a sound strategy. Still, I would always encourage anyone to compare the recovery prospects of one holding versus another to see if a better result can be had by switching.

In constantly evaluating one holding against another, we can ensure we get the maximum reward for the risk we are taking. Sitting and hoping for a recovery is not our style. The more active you are, the harder you need to work.
Happily, we love the work!

Thanks for reading.