Without exception, all clients that come through our doors start off with the creation of their bespoke financial plan. This takes precedence over any advice on protection, savings, investment and pensions products.
By the time we present the plan, 8 weeks could have passed since the initial discovery meeting. There have been some cases when it’s been longer depending on the time it takes for 3rd party providers to come back with the information we requested on our client’s behalf. There is an investment of both time and money from the client, so it is important they know what to expect from the process.
Planning takes time, but in our view, it is time well spent.
The Financial Plan presentation meeting can be as long as an hour to an hour and half. In most cases, post Covid, the meeting is in our offices and not a video meeting. In all cases the partner/spouse attends and there are two attendees from Fenrir. There is a lot to discuss, so we send the financial plan document in advance of the meeting to give clients a chance to review and consider.
During the meeting, we will discuss the financial plan and utilize our cash flow software to provide a clear overview of the client’s current position. We will also demonstrate revised positions if recommended strategies are implemented. The plan will highlight opportunities and risks, and provide actionable advice to help clients achieve their goals. This information empowers clients to make more informed and smarter decisions regarding their finances.
We don’t promise to have all the answers. The financial plan, is, after all just the starting point of a client’s journey to financial well-being.
After the meeting we create an action plan that prioritises short-term or immediate strategies that require implementation. As we build a relationship with our clients, we gain insight into their long-term planning needs. Through ongoing reviews, we assist clients in developing good financial habits, leading to successful outcomes. It’s in these moments that the magic truly happens.
