How do we work – our five stage process?
We’ve a five stage approach that ensures you make the right decisions about money, both now and in the future. This process is important as it ensures that we make a difference to your wellbeing whilst ensuring that you’re kept informed at every stage including over the long term.
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Stage One: Can we work together?
Before our first meeting we send you a brief questionnaire. This is helps us understand a little more and ensures we make the most out the time we spend together.
Our first meeting. This is held preferably at our offices or we can meet at your place of work or home and usually takes between 30 and 45 minutes. This gives us an opportunity to explain how we work and to understand a little more about your priorities and what’s important to you. You’ll also get to know us a little better and ask us questions about the way we work helping you to make an informed decision as to whether we can work together. This first meeting is without obligation and is held at TWP’s expense.
Stage Two: Getting to know you and understanding more
We move to this once we have a signed engagement letter. On agreeing to progress matters we will send you a comprehensive questionnaire which will need completing as fully as possible and returning to us.
Second meeting. The meeting will look to probe in depth to establish issues such as your financial and lifestyle objectives and priorities and what level of risk you are prepared to take with your investments. We will also establish your requirements for an ”emergency fund” and discuss the merits of creating wills and Lasting Powers of Attorney. At the end of this meeting, it is important we have a firm understanding of these issues and your agreement to allow us to prepare a financial plan for you.
Stage Three: Presenting a plan
This involves the research and creation of your financial plan to address each of your objectives. This may also necessitate writing to your existing pension and investment companies to obtain up to date information.
Third meeting. At this meeting we will present your financial plan, explaining how each component fits in with your overall financial planning objectives. With your agreement we will then start the implementation of that plan. For more complex cases, there may on occasions be the need to extend this to a fourth meeting.
Stage Four: Written recommendations
We will write to you confirming our recommendations. Any advice we give you will always be put in writing, this will also include details of any fees or charges as applicable. This always gives you the chance to reflect on the advice provided and ask questions should you require further clarification.
Stage Five: Ongoing review
We will review your financial plan and investment portfolio on a regular basis. This will be either quarterly, six monthly or annually, depending on the level of service proposition agreed with us. It’s important we establish clear expectations at outset and deliver a service to you over the long term that ensures you achieve your financial goals.