Introducing our PersonalFD service

So far we have built our relationship with you on a solid deep understanding of your business and its numbers.

But in reality, we understand that for a lot of our clients, the business they own is merely a means to an end. Your key motivations and challenges often lie within your personal life and the aspirations you have for you, your partners, your family, and your community.

So it seems odd that we would stop at your business's numbers. The logical next step is to help understand, measure and improve the numbers that matter to you personally.

That is where our PersonalFD service was born.

To look after the financial wellbeing of the person behind the business, and guide you on a long-term journey to securing your future financial freedom and giving you peace of mind today.

The four pillars of our PersonalFD service

Our PersonalFD service covers four pillars…

1. Understanding your now

2. Putting the basics in place

3. Capturing a Wealth Snapshot

4. Creating a Wealth Forecast

   
   

Each one is a stepping stone that moves you towards increased personal wealth and improved peace of mind.

Here’s what each one covers…

1. Understanding your ‘now’

This pillar is about us understanding your current situation, and what’s most important to you from a personal financial perspective going forward.

We ask you to complete a 10-minute survey to where we ask you to prioritise what matters most to you now across a series of areas such as:

• Family Security

• Income Protection

• Long Term Healthcare

• Reducing Your Tax Burden

• Investment Planning

• Retirement Planning

• Inheritance Tax Planning

  
  

We also want to understand if you have any key life events or big purchases planned in the short-to-medium term, and if you have a mortgage, when the next renewal date is.

Doing this helps us to understand what’s important to you personally right now so that we can work together and help you to meet your financial objectives.

It’s also about showing you that we care just as much, if not more, about you as a person as we do about the finances of the business that you own 🫶

2. Putting the basics in place

This pillar is about highlighting risks and uncovering blind spots.

We were quite shocked to find that according to the latest research, 56% of adults in the UK do not have a Will in place, including 53% of adults aged 50-64 🤯. And even fewer have a lasting Power of Attorney (PoA) in place 😨

Having an up-to-date will is particularly important for small business owners, who may want to have a say in how their estate (the assets you own when you die) is distributed among your relatives, team members, charities, or other individuals.

Perhaps even more important is a Power of Attorney, that gives nominated individuals the power to act on your behalf, if you’re unable to function due to serious illness or injury.

As part of our PersonalFD service, we will make sure that you have these two basic (and low-cost) documents in place, so that your personal and business assets are protected in the event that (god forbid) something bad happens to you.

3. Capturing a Wealth Snapshot

Think of your wealth snapshot as your “personal balance sheet”. It lists out all of the assets that you own, and the liabilities that you owe, with a value attached to each one.

Your assets may typically include your home, your business, pension fund, savings, car, commercial property, stocks & shares, crypto, antiques, etc.

Your liabilities may typically include a mortgage, bank loans, credit card debt, etc.

By recording the value of all of your assets, and subtracting the value of your liabilities, we calculate your current Net Wealth in £ terms.

This gives you a measurement that you can then compare your progress against, as you move onwards & upwards in life.

The different types of asset and liability you own/owe can have a big impact on the possible tax-saving opportunities that are available to you.

This pillar enables us to provide you with specific information and advice that is relevant to your current situation and future ambitions.

4. Creating a Wealth Forecast

Once you have completed your wealth snapshot, you have a clear picture of your current position.

The final pillar is to use your personal income and expenditure levels to forecast the level that your Net Wealth is on course to reach in the future.

Your personal income may include things like your salary, dividends, property rental, self-employment, pension drawdowns, interest on savings, gains on stocks & shares, etc

Your personal expenses may typically include your mortgage payments, household bills, loan repayments, shopping, car & travel, holidays, eating out, paying into your pension, etc.

Bringing all of this information together, we can work with you to build a personal cash flow forecast that shows how your Net Wealth is is on course to end up in a year, two years, five years, retirement age, and beyond…

This Wealth Forecast is the basis for some powerful conversations about your financial future.

Is where you’re projected to be, where you want to be?

What could you change to help you achieve your desired Net Wealth level in future?

And when you are on course achieve that desired Net Wealth, how will that make you feel?

In summary...

We hope that our PersonalFD service represents a natural evolution of our relationship with you - moving beyond just your business’s numbers to help you achieve personal financial freedom, security, and peace-of-mind.

Through our four-pillar approach, we'll work together to understand what matters most to you personally, ensure you have critical protections in place, measure your current Net Wealth position, and forecast it into the future.

This gives you clarity on where you stand today, and a roadmap to where you want to be tomorrow.

Next steps….

If you're interested in exploring our PersonalFD service, drop Harry, Luke or Rich a message and we’ll send you our 10-minute survey to get the ball rolling.

Here’s to financial freedom in future, and peace of mind today! 🍻