LifeWealth Design uses the robust six-step Financial Planning process to identify your lifetime goals before quantifying these goals with a comprehensive Financial Plan.

1 - Gathering data

We offer an initial consultation with no cost or obligation.  Ahead of this first meeting we will ask you to complete a short financial questionnaire.  This is contained within our new client welcome pack which you can request here.  The first meeting takes around one hour and is an opportunity for both parties to ask lots of questions.  After this first meeting we write to you with our letter of engagement to describe the services we can offer and the costs associated with these services.

2 - Establishing your objectives, goals and aims

On receipt of the signed letter of engagement we arrange a second meeting to discuss your objectives, goals and aims in greater detail.  At this stage we also ask you to sign various letters of authority to enable us requested detailed information on any existing financial arrangements.  We also look carefully at your income and expenditure (which usually involves a review of your recent bank statements) and any other relevant documents, such as wills or trusts. 

3 - Processing and analysing information

After the second meeting we begin constructing your Financial Plan; taking into account your current financial position and your goals for the future.  This stage requires a detailed analysis of all of the information we have acquired and we use several software systems to produce the cashflow forecasts, tax and investment plans to include within your report.

4 - Recommending a plan of action

We present your report at a third meeting where the Financial Planning report is used as a discussion document.  This gives you the opportunity to ask lots of questions and during the course of this meeting we aim to reach a consensus on the best course of action.  Depending on the decisions made within this meeting, we may redraft sections of your Financial Planning report to ensure that the final version is accurate for your records.

5 - Implementing the plan when agreed

Once decisions have been made about the best course of action, we help implement these on your behalf.  This can range from instructing fund switches on existing plans or establishing trusts to setting up a new financial policy.  Our aim here is to reduce the number of forms you need to spend time completing and also check any documents for accuracy before they are forwarded to you for your safekeeping.  

6 - Reviewing the plan regularly 

Arguably one of the most important parts of a Financial Plan is the ongoing review.  This ensures that you remain on track to achieve your goals.  We meet with you at least annually but also provide regular valuation statements.  You can phone or email us at any time with any questions you have about your Financial Planning.  

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