What is you really want out of life? What is it that motivates you? Whether it’s security, clarity, peace of mind or freedom, it’s our job to get to the bottom of exactly what drives you, so we can work with you – long term – and get you to a point where you can relax, and enjoy a life of financial independence now, and into the future.
What we do here at Booth is known as lifestyle financial planning. You’re not alone if you are wondering how that differs from traditional financial advice: it’s something we’re asked a lot. So, what is lifestyle financial planning, and how will it help you achieve your aspirations and the financial security you thirst for?
Booth clients know the way we work is long term, guiding them in a tailored way through the money side of their major life events. Being there when they need us and keeping them on track so their aspirations stay watertight as the years go by. This is what lifestyle financial planning is all about: it’s an ongoing relationship, and one that as a client of Booth Financial Planning, you’ll look forward to enjoying for many years to come.
What we do isn’t centred on financial ‘products’ or investments. Yes, certain products may work for you, but at the core of lifestyle financial planning is your story and until we’ve got to know where you are, where you want to be – and when – how could we possibly know whether a financial product would be right for you? The fact is, you might already be in a position to switch to your ideal lifestyle, you just don’t know it yet. Lifestyle financial planning will give you that clarity.
You can look at lifestyle financial planners as wearing three hats: life planner, financial planner and independent financial adviser. We’ve talked about this more in the fly-outs below, as we thought it would be useful for you to know how we work.
Why not give us a call so we can arrange our first chat? Once we’ve had that, we’ll be able to see if we fit together and if what we do is right for you. In the meantime, please feel free to download our easy to read ‘guide to our services’ which includes an example of how we charge for our services.
We believe in the value of professional financial planning, which is why we offer an initial, no-obligation meeting at our expense.
During our conversation, we'll keep things relaxed and take the time to get to know you better. We'll get to understand your financial aspirations, your concerns and what value are you seeking from a financial planner.
We'll listen carefully to your answers and will give you an indication of how our financial planning process works and how we feel it will help achieve your goals. We'll also provide you with a clear understanding of the charges you'll pay if you choose to work with us.
At the end of the meeting, if you feel that our services align with your needs, we can move on to the next stage. However, there's no pressure to commit - we want you to feel confident in your decision. Our goal is to establish a long-term relationship with you, one built on trust and a shared commitment to your financial success.
We consider the discovery process to be the most fundamental stage in the planning process. Why? Because until we know about you, we have no right to talk about your money. We believe transparency and open communication is essential to building a successful financial planning relationship, and that starts at this stage.
During discovery, we'll take the time to really get to know you and understand how you live your life. We want to know what motivates you to get out of bed in the morning, what worries you may have about your financial future, and what your values and goals are. Of course, we'll also need to build up a picture of your financials - your income, expenses, assets, and liabilities - so that we have a comprehensive understanding of where you are now.
We believe your financial plan should reflect your unique situation and aspirations, which is why we take a personalised approach to financial planning. We never lose sight of the fact that financial planning is about more than just the numbers. It's about creating a plan that aligns with your life goals and supports your vision for the future.
The evaluate stage is a crucial step in the process, as once we have a complete picture of your financial situation and goals, we'll conduct a thorough analysis to determine whether you're on track to achieve the financial future you envision.
During this stage, we'll dive deep into your finances, taking into account all of your assets, liabilities, income, and expenses. We'll work with you to develop a comprehensive cashflow forecast that takes into account different scenarios and assumptions. This will give you a clear understanding of whether or not you're on track to meet your financial goals, and if not, what changes we can make to get you there.
But we don't stop there - we also consider multiple 'what if' scenarios to ensure that you and your family remain financially secure, even in the face of unexpected events like your death or disability. We believe that a good financial plan should not only help you achieve your goals, but also provide peace of mind and financial security for you and your loved ones.
We'll present your financial plan and review the outcomes of our analysis with you. We'll prioritise your previously established lifestyle objectives and needs, and determine if they are attainable.
If recommendations are required, we'll explain them in detail, allowing you to make informed decisions. We encourage open communication and discussion of any concerns you may have, and we will work together to refine the plan as necessary.
Ideally, this meeting will take place in our offices, but we can accommodate any special needs or preferences you may have.
We'll work with you to determine the most effective way to implement our recommendations, taking into account timing and tax-year end planning.
If our recommendation involves the use of a financial product to better meet your objectives and needs, we'll take responsibility for its implementation and ensure that it aligns with our advice.
Furthermore, we'll liaise with your other professional advisers, such as your accountant or solicitor, where necessary, to ensure a coordinated and comprehensive approach to your financial planning.
At Booth Financial Planning, we believe that our clients' financial plans are just the first step and it’s creation marks the beginning of a long-lasting relationship. We understand that life can be unpredictable, and as such, it's essential to review your plan regularly to ensure that you remain track.
We are committed to keeping in touch with you and reviewing your plan at least once a year or sooner, should there be a significant change to your situation. Our aim is to build a long-term partnership with you, where we can monitor your progress, adjust your plan as needed, and work together to achieve your financial goals.
With Booth Financial Planning, you can be confident that you have a partner who is invested in your financial well-being and success for the long haul.