Whilst working with a client this morning and using our Voyant cash flow process, a couple of very interesting points where raised.
Our client noted that this approach of getting into the real detail of his income, expenditure, assets and liabilities then testing different financial scenarios was the only way to plan. He felt that this was a serious way to approach his Wealth Management plan and it was the first time he felt fully involved in the process.
During the meeting, he noted that since we last spoke a few weeks ago, his monthly payment for electricity was to double.
It’s not been a good week for the majority of Brits as we continue to be faced with ever higher costs across a whole range of goods and services we need on a daily basis.
Clearly our client wanted to factor in this increase in his monthly expenditure and for him knowing what his financial picture looked like, good or bad, was infinitely better than not knowing.
From the point of understanding the effects of increased cost and from the peace of mind that comes with knowing you’ll be OK financially, cash flow modelling is such an important part of a Wealth Manager’s process.
We find that using this approach allows clients to better understand their financial circumstances “in the round” and avoids falling into the specifics trap and confusion over jargon, policies and industry-speak.
Take Voyant away from me now and I’d struggle to do my job.
As we continue to live through these tough economic conditions the value we provide to clients in managing their cash flow models becomes even greater.
Please call us today and we’d be delighted to demonstrate how our Wealth Management Experience, including cash flow modelling, can put you firmly in control of your financial plan.
Roland Oliver