Process

Because the financial planning journey is different for each person, Colin follows a set process to ensure that goals are not only understood, but tailored for. This is part of forming a long-term "Partnership of Understanding".


Successful financial planning enables you, the client, to be able to answer the questions "How much is enough?" and "Will my family and business interests be taken care of if something were to happen to me?". This process will also assist you with setting goals within a defined framework to make informed choices, a road map to achieve these goals.

In most cases, clients plan for a specific sum of money as the end result. This perception ultimately ends up in the frustrating process of chasing larger and larger sums of money without really defining the goal beyond this point. There is also the risk of misunderstanding the cover one has in a life changing event, which could place more strain on yourself and your family should it be too late to make changes.

Money should rather be seen as a means to attain your goals, be it a house by the coast, exciting travel plans or a comfortable retirement. Money should never be the goal itself. This is a shift from the traditional Financial Planning mindset of planning for financial objectives. Instead of taking this approach, Colin focuses on setting goals according to the lifestyle you want to attain rather than just a sum of money.

This is the basis from which the Lifestyle Financial Planning process is born and it starts by asking the basic questions of "Where do I want to go?" and "What do I need to get there?"

Colin will have a discussion around these questions in order to gain an understanding of your desired lifestyle while taking into account your dreams, goals and aspirations. In order for goals to be successfully defined, you need to be able to picture the lifestyle you want to achieve and then monetize it.

Colin will sit with you and explain your current status and ability to meet your goals by examining what you already have. Included in this discussion is determining the rate of return (above inflation) that you need to ensure your desired lifestyle becomes a reality. He will also evaluate your assets, liabilities, income and expenses in order to gain a comprehensive overview of your estate and any potential implications that may arise.

He will then explain the options available to you that fall within your current needs and limitations, while giving you the best possible chance of achieving the rate of return required. This is completely tailored to the individual as Colin will factor in any market risk involved and ensure that this is understood. 

Should you be uncomfortable with the risk involved, then the plan is re-evaluated. This may require any lifestyle goals to be redefined to balance out the risk involved. You are 100% involved in this partnership in creating a plan suited to you.

This then builds on the proposed plan to meet the set goals and outlines the journey. You will have a picture of the cost of your current lifestyle as well as the cost of your ideal lifestyle and what will be needed to attain that goal. This is an ongoing process and Colin will regularly review where you are at and if any adjustments needs to be made to keep you on track with your goals.