Doing a financial plan is one thing, but to ensure the plan remains consistent with our client’s lifestyle, it is essential to conduct annual reviews.
We note a few of the benefits of annual reviews below:
We all know that our lives are ever-changing. Annual reviews with our clients allow time to review their financial goals and adjust if necessary. By making the adjustments, our clients continue developing good financial habits.
As our clients gain more experience with our annual reviews, without realising they get more confidence in their own financial understanding. We see them become more engaged, curious and always more confident in the success of their plans.
Stay on track
Within our review process, we use key performing indicators (KPI) to sense check how our client’s strategies are performing against their plans. By reviewing our KPIs on an ongoing basis, our clients fully understand how the plan is going and what adjustments, if any, are needed to remain on track.
One of the hardest parts of our job, but also one of the most rewarding, is to help our clients understand that it is not all about generating more money. It is about knowing what money you need to live the life you want. Although clients come to us to talk about money, over time and during our reviews, the conversation changes, and we talk about how they want to live. This is when the magic happens, and we can work to ensure the money provides for the lifestyle.