Call me anytime on - 44 7979 966 844 for independent financial advice. I care about your financial security. Why Independent Financial Advisers do what they do
Most people will have an image in their minds of what an IFA does all day, and where they fit into the grand scheme of things. I thought I'd give you an example of a case I worked on last year.
A client of mine suffered an aneurysm, as I had myself at the age of 16. He was a 31yo, male, non-smoking, married, son 1yo.
Prior to this illness, the last time I saw him was about 3 months earlier. As he has been a client of mine for some years, it was a routine service call at his place of work for a coffee and a chat about my next recommendation. He was successful, building a business up and enjoying his life and his family.
He and his wife were already adequately insured, but it is only practical that he ran the business while his son is so young. The purpose of my visit that August was to make him and his wife complete Enduring Power of Attorneys for the benefit of each other as an addendum to the Wills that I had put in place previously, and to update his trust documentation to recognise his young son.
A week after his illness I was in my office at 07h30 that day and I had only just completed the one task. As a result of the work we had done together over the preceding months and years, the right money is in the right hands, at the right time. I had ensured that his key staff have not got to worry about access to company information, databases, bank accounts etc., and his business could at least tread water for as long as it took him to recover and his family to make necessary adjustments for him.
He recovered over the following 6 months and went back to work, but now there are differences. His family have now had their mortgage paid off and his business is completely debt free. Their business will still carry on with minimal input from him, and on a non-emotional front, everything is fine.
Please ask your professional advisers to arrange your EPA, make sure your life insurance is firstly adequate, but, just as importantly, that it is written into trust, and if you have life and critical illness on the same policy, make sure that there is a split-trust in place.
I was able to do in six weeks what would have taken months and months to sort out without EPAs, trusts and Wills. The right money got to the right hands at the right time.
Have your professional financial advisers got your affairs in order?A bit about me now
I am in early middle age, and I know this for two reasons; firstly, I recently had to buy reading glasses because not everything is written in 20-point, and secondly, when I was first married, my wife and I used to whisper sweet nothings to each other. I must now be going deaf as well, because the volume of our communication has increased significantly!
I live in Gloucester with my wife, Stephanie and our daughter, Laura. I am a keen golfer, and play 'B Team' golf for my club. We cycle with our daughter, and as a rower in my youth, I want to be a rower again, and as I now qualify for the 'seniors', I might just achieve that one day!
On a charitable front, I am a keen supporter of The Anthony Nolan Trust, the organisation that matches bone marrow donors with recipients worldwide who require either bone marrow or stem cells as a cure for leukemia.
I was privileged enough to be a stem cell donor to a recipient in Germany in October 2002. Now, after her continued progress during the last 2 years, she has asked if she may make personal contact (prohibited for 2 years after donation), and we are now in regular e-mail contact.
If you feel that being a bone marrow donor is a worthwhile thing to do, and if you are under 40 years old, please visit www.anthonynolan.org.uk
to learn more and become a donor. If you are over 40, which exceeds the age for joining the register, ask your sons and daughters, colleagues, your friends and your network to visit. If you can't stand the thought of the needles (and it does involve a lot of needles), become a fund raiser.
I am a Parent Governor of my daughter's school in Gloucester, and I am also a volunteer with Cheltenham Community Projects and part of the Juvenile Support Team, www.ccprojects.org.uk
working with young offenders and Gloucestershire Constabulary.
In my past, before I married in 1991, I have been a classically trained chef, a restaurant manager, nightclub manager, restaurateur, hotel manager and pub manager.