Monday mornings always seem like trudging through treacle as I clear anything I didn’t finish last week. I’ve had several emails over the weekend about arranging pension contributions as we approach the tax year end.
Lunchtime brings a nice break with my Rotary Club meeting, primarily about giving back to the community. Lunch with more than 40 business and community leaders is always time well spent.
That afternoon I check out the latest upgrade to our website before helping a client with her auto-enrolment compliance. I then finish off a press article.
We can never escape compliance and this morning we have our training and competence assessment. Good news is I pass with flying colours and I’m ok for another six months.
Lunchtime is steak and chips and an informalcatch-up with my senior paraplanner. The afternoon sees our monthly management meeting. It’s essential to keep active tabs on the business as too many people work in, but not on, their business. As is to be expected, Mifid II and GDPR feature heavily.
I finally start the real work of my job, with a great client meeting. It may sound clichéd, but Lifestyle Financial Planning is used to demonstrate that my clients, who recently sold their business, can enjoytheir retirement without the fear of ever running out of money.
Due to inheritance tax, they’re best to delay drawing their pensions and spend their own savings first. But the key message the clients take away is that rather than cutting their spending in retirement, they can afford to increase it.
The week is getting a little manic. I feel advisers can cope with, at most, three client meetings a day, but today and tomorrow I’m playing catch-up with four meetings a day – a result of lost time due to half-term holidays followed by a week off sick.
I’m at a client’s first thing, again using Lifestyle Financial Planning, to go through a plan for her future that doesn’t involve working 50-plus hours a week forever. Fortunately, she lives within her means and should be able to ease off in a few years’ time when she’s cleared her mortgage away.
The next meeting is only around the corner from home so I can pop in on the way there for a sandwich and a chat with my missus. Three client meetings then follow, ending around 8.30pm. I try to avoid evening appointments, but when growing your business itis difficult to turn themdown completely.
First I’m reassuring a property investor that he’s doing the right thing by slowly but surely deleveraging. I explain it’s like rolling a small snowball down a hill – before you know it you’ve got the giant base of a snowman.