If you are a business owner or a private individual with over £250,000 of investment capital then the chances are that you may be dissatisfied with the level of service or standard of advice that you have received in the past.
Many conventional financial advisers have a reasonable level of knowledge but often the advice that they provide is related to financial products as this type of transactional advice generates commission.
But what difference does this type of advice bring to your life or your future?
Why would you need to make a difference?
Regardless of your current financial position, the future is full of uncertainty as governments worldwide are diminishing the value of their fiat currencies in order to clear massive debts. In addition the value of cash (once regarded as a safe haven) will be eroded by inflation.
Investment markets will be volatile for some time to come, and the worst of the falls in investment markets may be ahead.
So conventional advice, providing products based in these areas (and all too often – little other real advice other than information on products) may not provide you with the financial security you need.
Remember given the improvements in health and medical treatment we are all living longer. The cost of providing your current lifestyle will leap ahead in future years. This will provide a very real problem for many people as they are likely to outlive their capital.
Many of us are living our lives, as if nothing has changed, but a very real change has taken place, the transfer of wealth from the west to the east.
Compounding the significant reduction in wealth, our politicians have let us down badly and created massive debts which will impoverish this country for years to come.
Of course it is very easy to pretend that no real political or financial changes have taken place and it may be pleasant to pretend that our government is capable of dealing with the massive problems and significant debts that they are faced with.
If that is your position then you may want to carry on receiving conventional financial advice even in these unconventional times.
After all you will not have to cope with reductions in your pension income or standard of living now, nor will you have to cope with higher taxes. However all of these events are inevitable.
To provide a brighter financial future you may wish to seek out a different style of adviser, an Alternative Financial Adviser.
Alternative Financial Advisers can provide advice on products if required but they are more concerned with providing you with a realistic view of your current and likely future financial position.
They will work with you in creating a financial model, this will enable you to make the very necessary decisions now to influence your future later. Alternative Financial Advisers will normally agree to coach you to an improved financial future. In order to do so they may have to spell out some financial truths that may be uncomfortable for you to listen to.
In addition to personal (alternative) financial planning for individuals – Alternative Financial Advisers can often assist business owners, that is particularly true if your Alternative Financial Adviser is also an Alternative Corporate Financial Adviser.
Their knowledge and bespoke planning fills a void left by accountants and conventional financial advisers. Business owners have a massive opportunity to leverage their business and both increase their personal wealth and the value of their business.
Such an Alternative Financial Corporate Adviser needs not only to possess a considerable knowledge of accounts and financial planning strategies but also considerable knowledge of tax and sensible tax strategies.
Business owners who have applied financial strategies advised by such advisers report a marked increase in their personal wealth and the values of their business over as little as 2/3 years.
Alternative Financial Advisers make a significant commitment of time and support to each client they agree to work with, quite clearly this service can only be provided by fee and retainer.
However most advisers of this type provide a “discovery meeting” at no charge. This will enable you to investigate what if any difference they can assist you to bring to your future, using financial strategies not simply products.
They will also provide clear financial statements each year so that you can establish what progress you are making.
The Discovery meeting itself may be a pleasant surprise (or shock), as instead of being persuaded to purchase of this or that product, the Alternative Adviser will almost certainly focus the financial position you wish to place yourself in the near future and what value they can add to your financial situation to turn your expectations into reality.
If you have any queries about the advice you are receiving, then please do not hesitate in contacting one of our Financial Planning Consultants, at Pareto Lawrence we offer both Financial and tax planning advice to corporate and private clients.