29 Oct 2016

Our clients’ lives are constantly changing too

Recently I’ve been reflecting on how incredible the amount of change the financial services industry has been through. The good, the not so good, and everything in between. We have seen scandal from large financial institutions, volatile markets, change of government and leadership, legislation and the list goes on.

Our clients’ lives are constantly changing too.

One of my recent clients was left a significant sum of money via an inheritance. Losing the loved one was a big change in circumstance they had to deal with. While the circumstances around the inheritance are sad, the relative who left them the funds wanted to assist the young couple’s family in setting them up for the rest of their lives.

Faced with a lot of options, the first (and smartest) thing the couple did was seek independent advice to work out which options would be best for them. Our advice was to use the funds to buy a new family home for their growing family, allocate some for fun and invest the rest for their future retirement. In addition, he always wanted to work for himself in a business he could be truly passionate about.

Over the last few months they have worked with us as a sounding board, and working alongside their accountant and other trusted professionals, we have helped to assess different business opportunities. We shut down a few options that would have been disasters, so haven’t found the right one yet as the search continues.

How is this relevant to you?

 The one constant throughout all of this is change. Things do and always will change, it’s how you deal with this change that matters. Change can bring new ideas, opportunities, make you money and save you money but you must adapt and work with it in this fast paced environment we find ourselves in.

When it comes to our health, we seek the advice of a professional (the GP) in order to assist in changing/adapting to whatever condition one has. If you sell a home you seek out various professionals to help with the ins and outs of your sale, all of which are there to help you in your new and changed circumstances.

We seek the services of professionals because we have trust and confidence they will get the job done. The same can be said when considering your financial planning needs.

Having a trusted relationship with an independent financial adviser will allow you to understand all of your options today, so as each year passes and we reflect on what we achieved last year you can see that you are growing; that you are making progress rather feeling regret that opportunities are being missed or you’re not making the most of life.

Author: Jason Atkins from Roskow Independent Advisory

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