Many clients are not aware of the importance of taking independent financial advice. Most clients only experience of financial advice is being “sold” a product.
At Nicholls Stevens we give our clients financial advice. To begin with it has nothing whatsoever to do with money. We need to find out about you and what you want to do with your life. Later we fit the financial advice around these needs. We listen to your needs. At an initial meeting:
- We discuss your immediate need
- We discuss your long-term personal goals, this may be retiring at a certain age, starting a business, pursuing further education
- We discuss the long-term goals for your family, this may be privately educating your children, or paying for them to have a gap year, helping them to buy their first property
- We discuss your personal and financial targets
- We discuss your ideal lifestyle for the future
- We discuss your current financial position
- We then collect financial data on all your existing investments and analyse this information
- We are then in a position to report to you with recommendations of how you may achieve your personal and financial targets
That is just the start, the plan which we have established for you needs to be regularly reviewed to make sure it is up to date to meet your changing personal and financial need, also it may need to be changed if there are taxation or other legislative changes.
Taking financial advice means that you work with a skilled professional to establish a plan which suits your needs. This is not about selling products, we may advise on amending products you already hold or even acquiring new ones, but this is as a result of the advice, the purpose of financial advice is to ensure that you can financially achieve your personal goals.
All of us protect our car, our home and house contents against damage and loss yet many of us do not protect our families in the event that the main breadwinner dies or is unable to work through long term sickness