Ongoing financial review meetings
One of the most imortant aspects to any financial plan is to ensure that it is regularly reviewed. This ensures that your plan continues to be suitable for your long term goals and aspirations.
The main reasons people get caught out is because they have no overarching financial plan to work from. The benefit of a defined plan is that you invest with a specific objective – and not simply to make as much as possible with the least risk. A plan enables the investment choices you make to be aligned to the things you want to achieve. And that means you put your money to work by investing rather than speculating.
It also means that you can take risks that you can afford, and where you can be rewarded for doing so, and reducing or eliminating risk at all other times.
Unfortunately, experience shows us that it’s easy to invest when times are good. In boom times people tend to skip the planning and get carried along in a wave of euphoria. No matter how many investment bubbles we live through, there’s always a huge wave of money invested at the top of the cycle, in things that people know little about, and with no relevance to their long term financial needs.
Here at Burton & Fisher we recognise the importance of the regular review. Our service is designed for investment amounts of £75000 and above and you will benefit from ongoing professional investment research and holistic advice in all areas of your finances. We deal with all of the day to day administration on your portfolios. In addition you shall also receive the following services -
- Access to exclusive model invetsment portfolios tailored to your individual needs and objectives.
- Regular portfolio updates and economic news via our exclusive email updates.
- Private and secure online access to fund valuations via our firm's client wealth management portal offering secure 24/7 access.
- Regular risk assessment's and reviews to ensure the level of investment risk being taken within your portfolio is in line with your wishes.
- Telephone and email access yo your IFA to provide ongoing help and support as needed throughout the year.
- At least once a year we shall review your service level and where appropriate adjust it to be commensurate with the recurring fee we have received.
The Review Meeting
The agenda for future review meetings may include some or all of the following items. There will be areas that are a priority for you each year and your adviser will look at all areas to ensure that you keep on track with your financial plan.
- Prioritise your concerns - Any issues that are a primary concern to you will be discussed first
- General update - Review of our last fact-find, including a check on your general circumstances. This is very important as it may affect several areas of your plan. Your adviser shall also be able to speak with you about general updates in the financial world such as changes to tax reliefs and allowances.
- Portfolio/Market review - A review of how your existing portfolio has performed a review of the financial markets including feedback and commentary on performance of asset holding from your adviser.
- Review of attitude to risk and capacity for loss - Prior to the review meeting you shall be asked to complete a risk questionnaire which shall be discussed at the review meeting. If deemed necessary the portfolio can be altered to suit your new risk level.
- Strategic planning - Your adviser will recommend changes and alterations to your existing portfolio or any other alterations to your plan that may be necessary. Your adviser may recommend fund switches and will normally recommend a ‘rebalance’ of your assets to ensure that the portfolio remains in line with your chosen risk level and objectives and does not ‘drift’. A review of you estate planning needs to ensure that your wishes are currently legal, valid and tax efficient. A review of your protection needs such as life cover, critical illness or income protection.
- Professional update - If required we are able to provide updates to other professional parties such as your accountant or solicitor.
- General update - Your adviser is also able to help organise any paperwork you have and answer any other outstanding queries.