The average working week for this adviser has changed in the past month, as he and his wife have welcomed twins into the family.
The first order of business is to prepare for my meeting with Parade Design, a design company that has been the brains behind our company’s rebrand. We discuss the final stages of our new website and our social media strategy.
The afternoon consists of implementing the agreed changes. This is followed by contacting clients who have National Savings & Investments index-linked certificates.
The planned move to the consumer price index from the retail price index from May 2019 was announced in the Budget on October 29, and while it may save the taxpayer £610m over the next five years, it penalises investors who made sensible investment decisions to retain their holdings.
I do the nursery run with our eldest child Bill, which includes listening to music to set us both up nicely for the day.
Hoping to catch up with clients, I speak to an existing customer who has introduced his son and is looking to make additional financial provision for his children’s future. While developing existing relationships is a prerequisite in our industry, it is satisfying to work together with families to efficiently pass wealth from one generation to the next.
In the evening, with the children asleep, a 7km run clears out the cobwebs and my shortness of breath reminds me to do it more often.
My favourite day of the week as it sees the latest instalment of the building’s ‘bake off’ competition. It allows the numerous small businesses in the place to touch base and see how we can help each other progress.
The morning is client focused, discussing options for company money with an existing client. The afternoon includes reviewing and completing any outstanding compliance tasks that need to be broached before the end of the calendar year.
In the evening I follow up on a protection case for a friend. He’s recently moved and his wife is expecting their first child in the coming weeks, so making sure his growing family is protected is of paramount importance.
With our monthly investment committee meeting in the afternoon, the morning entails preparation for the meeting, including reviewing asset allocation at a sector level and performance of existing and prospective holdings.
This process forms a core component of the firm’s investment proposition and the systems we have in place allow us to measure the impact our decisions have at a sector and fund level. We can then identify whether we are improving on or detracting from investment performance in our models.
At the meeting, the main topic of conversation is the addition of gold to portfolios given the financial and geopolitical risks that currently exist. But we’ve also noted that, historically, when the price of gold is below US inflation, there have been good outcomes for investors.