We sometimes receive enquiries from people seeking one-time financial planning without ongoing management.
While we are passionate about helping clients plan, we focus on delivering value exceeding our fees. Unfortunately, we have found that one-off engagements don’t align with this goal.
Our real value is in continuous planning and review, which is essential for staying on track before and during retirement. Hence, handling the initial stages without the crucial review phase wouldn’t justify our fees.
Analogies to Explain Our Approach
Imagine you injure your leg or find a crack in your house’s wall. You would not just visit a doctor or structural engineer once but follow through with treatments or repairs. In the same way, we believe in ongoing support to implement and adjust plans as needed, especially since our clients are often busy and appreciate our help in ensuring actions are taken.
“Managing Money” and Our Approach
We’re not fond of the term “managing money.” We focus on our clients, not just their investments. While investment returns are crucial, we believe in a simple, low-cost, diversified approach. Our main charge is for continuous financial planning, not for frequent fund switching in your portfolio.
Why We Hesitate on One-Off Plans
Without ongoing management, we can’t ensure the effectiveness of one-time financial plans. Many aspects, like investment management, tax changes, and sustainable retirement income strategies, need regular attention. Without this, our initial plans and assumptions may become irrelevant, leaving us concerned about our client’s well-being post-consultation.
You might think we’re biased towards ongoing services. However, we’re a director-owned firm with no sales targets and are not volume-driven. We choose our clients carefully, often declining those where ongoing fees wouldn’t benefit them.
Also, we don’t have exit fees. We can shake hands and part ways if you feel we’re not providing value.