At 4am, I log onto a trading platform to see what the markets are getting up to overnight and see where the FTSE100 is trading. This is a daily routine as most nights I wake up and log on to a trading platform to see what is going on and which direction generally
I also have to read most of the daily papers online using Google News, so if a client rings me about something I have a good idea what they are talking about if it is about current affairs. As I work from home the office is never far away.
At 8am I have to prepare for my meetings for the day. I have two reviews and another meeting with a potential client who has a large amount of money in uncrystallised pensions for him and his wife, one of whom is over 75 and in poor health.
I run the portfolio scans on Skandia to show the performance of the portfolio and get an up-to-date valuation, so I can compare where they were on my last visit and where we are now.
In the evening I prepare for the meetings for tomorrow, two more reviews and a client who wants to add some more money into the portfolio from the sale of a commercial property. He is a long-standing client who has taken quite a bit of risk over the years. His partner introduced him to me and she has taken much less risk and has had almost the same results. I hope this time he goes for a more balanced option.
Tuesday
There are three more reviews today, and then I need to finalise the paperwork for the new business yesterday, so I have to write a report and collate all the information in preparation for the second visit on Friday. The client wants to invest a further £100,000 and plans to add more to it after the capital gains tax liability has been calculated, and he has given some money away to his family. I spend the first 30 minutes preparing for my meetings, and getting the valuation reports and scans of the portfolios ready.
Wednesday.
I have a network meeting all day today for continuing professional development. There are a range of speakers who will give me six hours of CPD and some useful updates on regulatory matters.
At 8pm I prepare for the morning and check portfolio values.
Thursday
I have two more client reviews today, as well as ad hoc work and client queries that come in through the day. I have a client looking to take some money from a bond, and I have to help him take this out in the most tax-effective way.
Friday
I have two more appointments today. The first is a review that I prepared for last night. The second is the finalising of the sale from Monday. He has gone for a more moderate risk profile, which pleases me – I have chosen a range of funds to suit his objective and risk profile. I plan to explain my methodology to him and then set a review date. This is a process I follow with every client.
Saturday
10am: I have arranged an annuity for a client who has had special terms agreed due to medical conditions. As he is still working I have agreed to finalise this on a weekend as he has already taken a day off to see me. This 64-year-old client has chosen to buy an annuity because if he leaves it 12 months the figures show he will have to live for 20 years before he gets the missing years’ pension. No risk wanted and he is single with no children and not concerned that his pension will die when he dies.
David Robinson is a director of Robinson Investment Solutions based in Manchester
