The client retired before 40 and wants to see if he can maintain his family’s lifestyle without having to return to work. I talk it through with my technical consultant and right hand man Rob, and we agree that the figures look good and in fact even a lower-risk portfolio may be appropriate for the client.
I then head off for a short meeting with one of the members of a group scheme we look after who is looking for some basic advice on the implications of the changes to pensions in the recent Budget.
Back to the office for a visit from BNY Mellon for a review of their absolute return range. We have been looking at this and similar products for a while, particularly in light of the interest rate risk carried by fixed interest investments, given the likely increase in base rates in the near future.
A client pops in to sign some paperwork and then Rob and I are off to Chelsea to run through a pension consolidation recommendation and complete the paperwork.
Tuesday
Every Tuesday starts with an early catch up with the other members of the Lift London team where we discuss current issues and opportunities. Rob and I then head to Canary Wharf for a portfolio review meeting.
I have a new member of our client support team starting today at our Altrincham office, so spend some time on the phone talking things through. We will meet when I go up for our quarterly conference next week.
Then it is back to the office to see the client we were working on yesterday. He and his wife are very pleased with the reassurance that they can carry on with their lifestyle, and once they get home they send me an email to ask if we can model several extra capital projects, including refurbishing his classic car.
Finally, Rob and I head to a firm of investment managers to meet a client to discuss her retirement plans. We recommended she took fixed protection last tax year and now need to work out a strategy for crystallising her benefits and a new approach to investment within her Sipp.
Wednesday
I have meetings near the office then off to the Financial Adviser awards in the West End. I have been nominated in the Corporate Adviser category and receive a “commended”, which I am very pleased with as group work is not my strongest skill.
I have some good chats with a group of other advisers and end up joining them for further drinks before catching the last train home.
Thursday
I have a call with a client who needs some help thinking through his finances following a divorce and then an important meeting with a prospective new client working in fund management. She has been let down by a firm of wealth managers who appear to have provided none of the much-needed financial planning they need. She agrees to bring in her husband for a joint review next week.
I have member meetings with some corporate clients in the afternoon, then I am home to do bath time and stories for the kids before attempting some revision for the IMC2 exam. I pack up after half an hour and watch some TV.
Friday
I am working at home today, so I have breakfast with the kids then deal with admin, calls to clients and the client support team, and check reports produced by my paraplanner. It is a quick run to the shops at the end of the day, as the dog has raided the fridge meaning we have no food for two friends who are staying for the weekend.
Neil Sadler is a chartered financial planner of LIFT-Financial
