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Diary of an Adviser: James Wetherall

James Wetherall

Monday

We have agreed to do the planning on a nil-charge basis as a goodwill gesture given our long-standing relationship. The clients are pleased with the advice and we complete the paperwork to put it into action.

On returning to the office I clear emails and spend much of the afternoon working alongside our graduate trainee who is preparing an IHT planning recommendation for one of our high net-worth clients.

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Tuesday

It is time to renegotiate the lease on our offices. Being based in Manchester’s Spinningfields financial hub is great for our profile, but rental costs and demand for serviced office space is high. Our provider is trying to push through big rental increases. I do not wish to relocate in the short term. However, the realisation that we can if we really need to is empowering and helps me negotiate a more reasonable 12-month renewal.

In the afternoon, a potential new client comes to see me for some investment and retirement advice and I talk to him about what we can offer.

Wednesday

I spend the morning doing some further training with our graduate trainee, this time looking at a review and recommendation to update a client’s protection portfolio as his circumstances have changed. Unfortunately our research highlights that we are still missing some key information, so we email the client and park our planning while awaiting a reply.

I have an interesting discussion with the managing director of O&M, the pension software company, who calls to get an adviser’s perspective on his planning tools, while a broker consultant comes into the office to help with the submission of a rather complex piece of new business to ensure everything goes smoothly. Excellent service as usual.

In the afternoon we look into a complex residency and overseas pension query on a group scheme that we look after, while I write to a number of new client prospects.

Thursday

The day commences with a lengthy phone call to complete a fact-finding and risk-profiling exercise with a new client to bring him on board. Following the call, the team and I work quickly to get the documents finalised and posted to the client for review and countersignature so we can complete his file and update his portfolio.

Friday

Friday morning is spent with a client I have worked with previously who wants to work with me again under Wetherall’s. She does not fit the profile of our typical client as she has only a relatively small sum to place under our care, but she is a pleasure to work with and we have an animated meeting laughing and joking. I have missed her dry wit and sense of humour and am happy to welcome her on board.