Monday
Monday mornings start by dealing with the weekend. Any enquiries that have come in over the weekend are passed out to advisers to contact. I also check that any fees paid over the weekend have been electronically matched with the correct client account.
I have got some reports to complete for clients I saw last week and have another meeting with a client who specifically wants to invest in commercial property through his pension in the afternoon. This client was a referral from someone with similar pension investments. Both of these are small business owners who want to use their pension to help with their businesses, which are growing fantastically well.
Tuesday
I like to meet up and discuss business strategy every month with my business partner, Steve. Although we see each other on a regular basis and discuss business and income, we feel that it is important to regularly sit down and discuss the business from a broader level. It was recruitment that took up most of the time during today’s meeting because we are thinking of expanding our team.
We also discussed our client software. Many of our clients are now using our website to see live valuations of their investments. We feel that if they can see how they are doing on a day-to-day basis this drives client engagement and also helps with client expectations.
Wednesday
Most of the morning was spent chasing up outstanding mortgage cases. A necessary, if frustrating, part of the job. We have seen a busy second half to our mortgage business. This is against a backdrop of very low interest rates and some pretty high standard variable rates.
On Wednesday afternoon, I saw a client who was lucky enough to get made redundant just as he was thinking of retiring early. We discussed his redundancy package, and how best to fund his proposed retirement. Like a lot of people dealing with the new pension freedoms, he has to weigh up the benefits of an annuity and drawdown.
Thursday
We are going through a growth spell as a company at present and have been looking for talented people to join us. Thursday morning was spent speaking to candidates on the phone, followed by a lunchtime meeting with a fantastic ex-colleague I used to work with years ago, who – luckily enough – has decided to join us. I then shot off to Marlborough College to watch my niece and nephew in their nativity play.
Friday
Friday morning was spent producing reports for clients I am due to see next week. I like to get them all done on the Friday to get them out of the way, because paperwork is the least exciting part of the job.
We are reviewing our investment proposition, so lunchtime was spent talking to discretionary fund managers about their proposition. We will narrow down what we like and review it against our model.
The afternoon was spent doing the sales and accounts reporting. For the evening, I took a couple of clients for a drink down at the local for a Christmas tipple.
Samuel Mather-Holgate is a director of Mather & Murray Financial, based in Swindon
