Monday
The first job today was to write a suitability report for a small Isa investment carried out on Friday afternoon; business submitted.
I have a midday meeting with a long-standing client to discuss the re-mortgaging of three of his buy-to-let properties to raise capital to buy three new properties. We agreed which properties would be remortgaged, and an appointment was made for next Tuesday to carry out the applications at my office.
The last appointment of the day was an annual client review by means of a web-enabled meeting. The client’s attitude to risk was reassessed, and the client priorities for the future were established. It was agreed that the client wanted to invest both a lump sum and regular premiums into Isas and general investment accounts in a portfolio of funds that matched their attitude to risk.
Tuesday
I prepare illustrations for last night’s client’s proposed portfolio investments, and regular savings.
I carried out platform research to establish which platform to use for the portfolio investments, based on the client’s ATR.
Client report and illustrations and key facts document sent to client, follow-up call to be made next week.
Mortgage meeting and fact-find with a new client; unfortunately, I was unable to place the mortgage due to their current circumstances, so I made a referral to a specialist broker group which may be able to help.
The last meeting of the day was to discuss further lump-sum investments into Isas for long-standing clients. They agreed the amount that they could comfortably afford, and are coming back in next Monday to complete the application at my office.
Wednesday
I dealt with post and admin – you do not realise how much you miss your PA’s help until they are away on holiday.
Replied to an enquiry that came in via my website for a possible Let-to-Buy and a new main-place-of-residence purchase. After a telephone discussion it was agreed we would meet at their house for a face-to-face appointment, after the school half-term holidays. Appointment booked for next week.
Existing clients needing to come in at short notice for a mortgage fact-find. They want to buy a large family house. The fact-find was carried out, research completed, the lender established and a decision in principle was obtained for the proposed lending.
Clients coming back in tomorrow afternoon if their offer is accepted by the vendor.
Thursday
I have a meeting with two company directors to confirm the start date and terms of their relevant life policies after ratings applied. Clients confirmed they wished to proceed with the term’s policies issued.
Discussion were also held regarding possible drawdown pension requirements, and the clients agreed that this would be discussed fully after 6 April 2015, when new rules come into force.
A further meeting was carried out with a member of their staff to explain his life cover rating decision; the client was happy, with terms offered, rating letter signed and policy put on risk.
I had an afternoon appointment carried out with yesterday’s clients to complete a full mortgage application for the potential purchase. The estate agent has promised to confirm if the offer is accepted as soon as the vendor gets back to him. The mortgage application and relevant paperwork is ready for submission as soon as the purchase is confirmed.
Friday
I have a client appointment to follow up to complete a pension review of three pension pots and start making regular contributions to the clients new selected retirement date.
I explained that the pensions he had were suitable, and that after carrying out a full analysis of his existing pensions it would not be in his interest to move the pots, due to the reduction in yield. He thanked me for my work and was impressed with the detailed report he received and he agreed to commence regular payments.
Last job of the week was to ensure the PA’s desk was cleared and the notes written ready for our meeting on Monday on her return. It wasn’t the quiet week I had planned, but productive.
Stephen Abbott is an independent financial adviser at Bradford-based Stephen Abbott Financial Services
