A tried and tested process for financial security – We take the time to find out about you, your dreams and aspirations…
Step 1 - Discovery Meeting
What does money mean to you? What are your long-term goals? We want to hear your story. The discovery meeting is a chance for us to get to know each other and see if we can work together going forward. This meeting is at our expense as it is important we get the chance to make sure the relationship is right for you and FMB.
Step 2 - Fact Find and Risk Profiling
Imagine having a life road map; our job is to give you the directions to help you reach your destination. However, before we can set the route, we will need to gain a better understanding of the bigger financial picture and what you hope to achieve with your life. We will also need to determine what level of risk you are comfortable taking to get there because all of our clients are different, and what path is right for one, might not suit another. We use questionnaires to get some of the answers we need, but the majority we can get from listening to you and asking the right questions.
Step 3 – Planning
The next stage is creating your bespoke financial plan. This will be tailored to your individual needs and can range from a short report focusing on a particular area, to a full financial plan using cashflow modelling technology. The plan may also include an investment strategy or steps to minimise your tax liability if necessary.
There will be a charge at this stage of the process, but the amount would depend on the complexity of the plan. We are 100% transparent when it comes to our fees, and we would ensure that you were happy with the costs involved before we proceed with any of our research. This charge mainly applies to new clients, but could be applied to existing clients who need advice on a new area that wasn’t included in their original plan.
Step 4 – Provide Education
Before we go any further, we will talk you through our recommendations and make sure you fully understand the course of action we're about to take. Here we will ensure that we have recognised all of your goals and objectives, so we know that what we are proposing is right for you.
Step 5 – Implementation
Once you are happy to proceed, we can implement the elements of your financial plan, or in the case of an existing client, make any alterations as part of your plan review. We will deal with all the paperwork and will liaise with the providers and any other professionals involved on your behalf. There will be a fee charged at this stage for implementation, which will be dependent on the level of funds involved, as outlined in our Service Standards.
Step 6 – Monitor Progress
Once your plan has been implemented, you can rest assured that our involvement does not stop there. We will hold regular meetings* to ensure that you are still on the right path to achieving your goals. Alternatively, if there have been any changes to your circumstances or attitude to investment risk, we will determine whether the changes require us to set a new course for you. We are always on the other end of the phone too if you wish to discuss anything with us or need a second opinion.
For providing this service, we will charge an ongoing fee that is based on a percentage of your funds under management and is detailed in each of our Service Standards.
* The number of times we meet during the year is determined by your Service Standard.
Call us now and find out how our process can help you plan and manage your finances.