The Advice Process
THE FIRST STAGE Initial consultation and information gathering (at our cost)
This is the process of getting to know you. How you got to where you are now – and where you want to get to in the future.
What you want to achieve, financially, in the next 5, 10, 15, 20 or 30 years.
What’s important to you? What drives you? What are your lifestyle expectations? What do you want out of life?
In other words, what do you want your money to do in the first place! Without answers to these fundamental questions no financial decisions can made.
We will also work with you to identify the cost of your current and future desired lifestyle allowing for all of the things that you want to do in your lifetime. Most clients find this an enjoyable part of the process as it helps them to identify what they want to do with their lives – now and in the future.
THE SECOND STAGE Financial Review, Research and Recomendation
Once we have established exactly what you are trying to achieve we can then take you to the next stage by undertaking comprehensive financial planning.
This is where we analyse all of your existing arrangements to identify exactly what you have already, what they are worth now and what we can safely assume they will be worth in the future – taking into account performance to date.
Once we have this information available, including a breakdown of your lifetime expenditure requirements, we will then input this data into our sophisticated financial planning software. This enables us to show you what your financial future looks like.
The financial planning meetings will produce a detailed statement of your net worth, we will confirm your various income sources, available now and in the future, and we will look at your expenditure requirements, based on you living the life you want to live.
Then we will together look at various ‘what if’ scenario’s in order to identify what needs to happen to ensure that your goals (based on the Life planning meeting) are achieved.
This is when most clients suddenly understand what they need to do, and why. It’s when money starts making sense. This is when clients see the possibilities available to them, now and in the future.
Having been through the Lifestyle Financial Planning process, should your financial plan indicate that you need financial products to satisfy the needs of your financial plan, (and therefore your real goals and objectives), then, and only then, do we move to the third stage of the process – Product Planning.
This is where we research the whole market to identify the financial products best suited to your objectives and the needs of your financial plan. This stage involves the use of sophisticated independent product research software to compare product providers, fund performance, volatility, asset allocation for suggested funds etc, etc. This stage will involve rigorous research on our part including a detailed recommendation report.
This stage is always the final stage of the comprehensive process we use with clients and it only occurs when we know exactly what you are trying to achieve in the first place.
Policy Arrangement and Implementation
Once you have recieved your personalised Financial Planning Report and you are happy to proceed we will then complete all the relervant paperwork to implement the advice recommended.
Having ongoing financial advice is an optional service however it is extremly important. We offer a classic service and a premier service depending on your needs.
Lighthouse Financial Advice is a trading style of Lighthouse Financial Advice Limited, an appointed representative of Lighthouse Advisory Services Limited which is authorised and regulated by the Financial Conduct Authority.
Lighthouse Advisory Services Limited is a wholly owned subsidiary of Lighthouse Group plc