Financial planning is all about you
- Julia Docker
- Dec 27, 2018
- 2 min read
In order to prepare your financial plan we need to gather an enormous amount of data.
In fact we are rather like a sponge when it comes down to data we can suck up any amount of it!
That data is all about you.
It’s about your income and your expenditure and about your assets and liabilities.
Without a lot of data we simply cannot provide you with suitable advice.
Sometimes our request for data can seem a little intrusive; after all the level of detail that we request is so high that very few people with whom you interact will hold as much detail.
We gather this data using a form called, unsurprisingly, About You.
Many clients who complete this form often tell us that they have found the exercise really useful. Getting all of the information down in one place can be quite therapeutic.
I often call this exercise setting homework because it is the kind of job you might do whilst at home with access to all of your records.
One of the benefits of asking for this data ahead of a first meeting (at our expense and without any obligation) is that we can concentrate when we meet finding out about you, your story and what you are trying to achieve.
This is far more interesting than a meeting where we ask you about your date of birth and National Insurance number.
You, your career, your family and your interest are, after all, far more interesting than the amount of money in your savings account!
Sometimes people who enquire about our financial planning services are a little reluctant to provide extensive details. We can reassure them that this data is kept confidential and safe and only seen and used by members of our team who work for you.
The more detail we can obtain from you the better the output when we create your plan.
We separate the data into hard facts (the numbers etc) and soft facts (the things you feel and have experienced).
It’s the combination of these two types of facts that enable us to personalise and make suitable the advice we deliver.
After all, it is all about you.