Monday
I meet with a wrap provider to discuss how we will work together. While a fan of wraps, I do feel they are expensive for what they do and seem to have over-promised and under-delivered.
I spend the afternoon writing some press articles and blog entries for the website. These have been instrumental in generating new enquiries.
Tuesday
I am based in Banchory which is a beautiful town in north-east Scotland. I meet with a new client who is looking for guidance and a plan for the future.
She is typical of many, in that she has been so busy running her own business that she has neglected her own financial affairs. The meeting is a productive one and several planning issues are highlighted.
I agree to send out a fee proposal and scope of work. As a new firm, we are able to provide a highly personal and competitively priced service.
I have a two-year-old daughter, so bath duties and bedtime stories are the order of the day. One of the main reasons for setting up on my own was to have a better work/life balance and not miss out on family growing up.
Wednesday
I meet a new client who has lifetime allowance issues and is looking to build a financial plan. I advocate building a financial plan and cash flow for all clients as it informs all the advice thereafter.
He is relatively young and has several years until his planned retirement date. He finds it ridiculous that a lifetime allowance is imposed in any event and I agree with him.
The meeting goes well and I promise to send out a fee proposal in the next few days.
I receive confirmation that I have passed my CISI CPD audit which is always nice to hear.
Thursday
I meet a new client who was very fortunate to even make it to the meeting. He had been involved in a motor vehicle incident on his motor bike. It highlights what can happen in life at any time.
He has been offered a redundancy package and is contemplating retirement. In line with many others, he is not planning to retire fully and has other options available, but wants to have a break from the nine to five treadmill.
Friday
A couple of new potential client meetings. It turns out they have very similar requirements, and actually work for the same organisation.
They are both considering retirement and are concerned about having sufficient income to meet their lifestyle, but are also concerned about the impact of inheritance tax and want to leave as much as possible to their children.
These are ideal scenarios to model using cash flow planning software, and I struggle to remember how I could deal effectively with this type of enquiry when I did not have the benefit of this tool.
