Diary of an adviser  

Diary of an adviser: Paul Lockwood

Diary of an adviser: Paul Lockwood

Having started out six weeks ago, this adviser spends his week balancing client meetings with family life 

Monday

Despite being up before 6am at the weekend, my two children decided to have a lie-in today. I am out the house before 7am and in the office to catch up on some paperwork.

Today, I am seeing a client whose daughter tragically died and she is looking to organise a trust for the proceeds of her life policy.

This is a timely reminder of the importance of protection. 

Once this has been arranged, I spend the afternoon studying towards my AF1 qualification. I have been an IFA for only six weeks and so I am keen to learn as much as possible.

Tuesday

It is another early start and, after making my children breakfast, I am out to see a client who has sadly developed dementia and no longer has the mental capacity to manage his investments.

Thankfully his son and daughter had the foresight to arrange a lasting power of attorney so we are able to switch his investments into a more cautious portfolio without requiring him to sign.

The afternoon is spent back in the office with a representative from Octopus who talks about the key benefits of venture capital trusts. 

Wednesday

It is a busy day today as I am seeing two clients whose pensions are in drawdown and both are looking at annuities.

After speaking with them both, it is evident that they are risk averse and have sufficient assets to pass on to their children, so I head back to the office to put together my recommendations.

The afternoon is spent in a meeting with LV, where we discuss the benefits of their “smoothing” fund compared to those of other companies, as well as other products they can offer us.

I then head home to give my children dinner and a well-earned break to my heavily pregnant wife.

Thursday

After making my children breakfast and getting them dressed, I head out to see two elderly clients to review their investments.

The husband has tragically had a stroke and, despite being in good spirits, he now requires full-time care.

His wife talks to me about how they had plans to spend their investments but now neither of them can do so.

It is a really upsetting scenario but I put together a plan to put some of their money into trust for their children.

After a quick sandwich, I head across town to see a couple to review their protection needs.

The husband is changing jobs and is concerned about losing some of his employer benefits. I agree to look at some additional income protection as well as critical illness.

Friday

Today is a more relaxed day as I head into the office to complete paperwork and review my diary for the following week.