Diary of an adviser  

Diary of an Adviser: Will Palmer

Diary of an Adviser: Will Palmer

It is a week full of surprises while balancing the needs of clients, fellow advisers and paraplanners, with time to squeeze in a charity golf day on Friday.

Monday

A typical Monday: you know what is in the diary, but then something pops up to add spice to proceedings.

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Take today – our new offices are just on the outskirts of Doncaster and following the commute, there is an email that arrives early morning from a client requesting a larger than anticipated withdrawal from their investments. Over the weekend they have decided to buy a property abroad that they had had their eyes on for a while. 

This means that my usual meeting with my paraplanner and administrator to go through the forthcoming week’s work has an additional item on the agenda. 

We regularly use Voyant cash flow planning software to map out our clients’ journeys, and had recently completed a full set of scenarios for this particular gentleman. It turns out what is needed is little more than a simple matter of moving cash from one place to another – all modelled and logged by Voyant.

Tuesday

I’m up bright and early today for our monthly business planning meeting with our four other advisers. After a review of our figures to date and pipeline business, we invite our guest for the morning from a Ssas provider into the boardroom to give a presentation on their offering.

After a lunch at my desk, I sit down with Michelle Bell, our head of paraplanning, to go through two of the DB transfer cases we have on the go. This is not a huge part of our business, but we are seeing significantly more activity in this area. We have three pension transfer specialists in the practice and all are picking up more cases. 

Wednesday

I have a meeting in the office today with one of my farmer clients who has recently sold some land and is receiving large sums of money in tranches.

He is due another payment soon and I want to prepare some thoughts on how best to move forward with this. He is keen to mitigate his liability to IHT at the same time as maintaining a rising income, so in conjunction with my paraplanner, we again use Voyant to run various income and investment scenarios.

Thursday

As well as Voyant, we have also recently introduced some model portfolios via Tatton IM. Today we have a lunch with Lothar Mentel, chief executive of Tatton, at a local hotel, to which we have 20 invitees. The session goes brilliantly, and before I get back to the office at 1.30pm I have already had two emails thanking me and requesting further meetings. 

Later in the afternoon I spend three hours at one of the large solicitors’ practices we deal with. We provide all of its employee benefit solutions so today I am due to give a presentation on pensions and salary sacrifice to a group of new employees, followed by a couple of one-to-ones with staff who are looking to consolidate previous pensions to the workplace scheme.