Monday starts on Sunday as my partner will be trying to ensure I am (nearly) up to date admin-wise. She is the office manager and is in charge of the other two admin staff.
Sometimes in a shared car to the office we talk about the big issues of the day or week, which would be difficult to describe as a management meeting, but it really is. The enigma is running a business and doing the business, so my task is handing off some clients I do not have time to fully service to the consultants in ASK who do have time. Mondays can be catch up and organise, not forgetting final prep for Tuesday am client.
Tuesday
I have a client appointment in the beautiful Scottish countryside today. I enjoy the 40-minute drive as the weather has been very good this summer. They are retired doctors who need a wee bit of reassurance that all is well and may require some tweaking to investments.
They also reveal a fair amount of old maturing bank-guaranteed Isa arrangements which will need a home. In the afternoon, I am office based, writing up facts about the clients, and instigating research for their file.
Wednesday
I am avoiding the many emails, texts and calls from providers, platforms, research-tool companies, surveys, telecoms, and the like that we do not currently use.
We perform due diligence regularly on all our propositions and it is not that time yet. Sifting through the CPD meetings, seminars, webinars, compliance utterances and FCA recommendations that are relevant punctuates most days to an extent. I am putting the finishing touches to a preparation for the evening client — a soon-to-retire doctor who needs some LTA assurance and a home for lump-sum pension money.
Thursday
I file an update for last night’s client-research needs for new money — I consult with the admin team who will be doing most of this prepping. I take stock of more existing clients in terms of drip-feeding some of them to my advisers.
There are mid-month snapshots of how each adviser is doing and an almost daily bank check — what is in and what is out.
I try not to have to see more than three or four clients a week now, as the admin for this overtakes the strategy of running the business and making sure we optimise opportunities to explore further business with medics, as we are specialists in this area.
Friday
I have a round of golf at 7am with one of my advisers.
There is a decent course five minutes from the office, which means you can be back at your desk by 10.30am and not lose most of the day. A welcome escape and you do not feel guilty.
I make sure advisers are being compliantly busy and planning ahead, and occasionally have an informal adviser chat to get their feel for the next month or two.
Dave King is a partner of ASK Independent Consultants, based in East Kilbride
