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Financial Planning

By adopting a holistic financial planning process we provide solutions to help our clients achieve their financial goals.  We achieve this by getting to know as much as possible about our clients and their financial aspirations.

In terms of navigating one’s way through life, each individual will have to face their own challenges and opportunities specific to their particular circumstances but will also be affected by the broader world economy.

We will help you to face threats such as inflation, “Among the things that money can’t buy is what it used to” and taxes, Margaret Mitchell said “Death and taxes and child birth! – there is never a convenient time for any of them’

We arrive at our advice by following our six step financial planning process – please select from the tabs above for further information.

Engagement

The vast majority of our clients Engage us through personal recommendation. Invariably they have some pressing financial need, they may feel that they are paying excessive taxes or achieving inadequate returns or they may have borrowing requirements or quite simply they may feel disorganised or untrusting of their existing advice.

The initial engagement process in entirely at our cost, at the end of which, should we be instructed, we will complete a client agreement form which will then allow us to move into the Discovery process.

Discovery

The foundation of our work is to clarify about the facts of your situation, this includes getting information about your assets, liabilities, income, amounts of tax paid.

A highly focused questionnaire will help to establish any shortcomings in your financial planning and tell us if your current plans are likely to meet your personal objectives. What are your current priorities, what are your lifetime goals, where do you feel you may be most vulnerable, how are your affairs organised, how do you currently track your progress?

We use a psychometric profiler to establish your attitude to the volatility of investment markets. Not only does this help us in advising on future investments but also tells us if any current plans accurately match your risk profile.

We call this our Discovery process.

Mapping

Having gained a full and clear picture of your financial position and your personal and/or family and business goals, our next stage is one of Mapping where we will look to evaluate your individual circumstances including building a personal lifetime cashflow and where appropriate additional financial models which could include

  • analysis of school fees
  • evaluation of inheritance tax position
  • life and critical illness cover assessment

all based on assumptions agreed with you in order to quantify the resources and timeframes necessary in order to be able to achieve those goals. Fine tuning to your individual preferences is a key step in this process. This process is conducted away from the initial meeting at our offices and our team will examine in depth any existing investments, pension and life policies to establish their relevance to your current situation and their likely future value. We will consider all the information we have gathered and look at how best we can help you to meet your financial aspirations.

Financial Compass

We then move to the delivery and launch of our recommendations of creative solutions in your financial planning report Financial Compass ™.

This includes the development and presentation (verbally and in writing) of comprehensive advice, covering your current and desired future position and the proposed strategy to take you there eg cashflow and other scenario planning, recommendations for action and applicable product solutions.

Key to this is the way we treat each client and their family individually so a bespoke solution can be produced to match your  unique circumstance. We will employ a variety of tools to assist you in achieving your goals but absolutely key is the application of the creativity, intelligence and experience drawn from our broad team of technical experts that has enabled us to deliver tailored solutions to our clients for more than 25 years.

The golden rule is that there are no golden rules. Hence standard solutions are no longer enough.

Launch

Our administration team processes the various strategies that have been agreed upon and that have mutually been identified as meeting your objectives.

We then are ready to move on to Launch where things actually get done. HFM Columbus is one of a very few firms that is able to provide essentially a one stop financial solution with regard to implementation.

Strategic Review

Someone once said: ‘the sea and the sky are never static, they constantly change and move and the sail must, with each change, be trimmed’.

Our Strategic Review seeks to achieve exactly this. We sit with you to check your objectives, assess your progress and analyse any gaps in your financial strategy. The goal is to progress over the years to achieving your ultimate financial objectives with clarity, confidence and trust.  By ensuring you are informed and have a sense of cohesion we want you to feel you are in charge of your financial future. The result of this will include tangible goals such as understanding and achieving what financial independence means to you, and along the way having improved returns, tax efficiency and being able to become debt free.

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