Many people have goals and dreams, but a goal without a plan is just a wish… an achievable goal is a dream with a deadline …
Here's how our NFS Advisers formulate the plan towards your goals:
Phase 1 – About You
Your NFS Adviser will discuss your personal circumstances and your current financial situation. They will go into detail so that they can draw up a complete picture of where you are now, and where you want to arrive. They will ask about you, your occupation, your savings & investments, your mortgage, and your current liabilities, and they will explain how all this information builds a profile which will help them to formulate your financial plan.
Phase 2 – Your Goals & Ambitions
Next, they discuss your objectives and your aspirations, as well as any concerns that may arise. They will discuss risk and reward and capacity for loss which together with their assesment of suitability and appropriatess will result in determining your attitude towards risk.
Phase 3 – Analysis
They will discuss with you their analysis of your current financial position and outline their initial thoughts for their recommendation. They will present their recommendation and actions required for you to potentially achieve your goals, including which investment products and platforms they recommend, and a suggested asset allocation, all of which will have been assessed for suitability and appropriateness.
Phase 4 – How to get there
So now they know where you are and where you want to be. In this phase they present your Personalised Financial Recommendation which maps out the journey to your destination, and they establish the most suitable and efficient route to potentially get you there. They discuss with you your current income and expenditure, your assets and liabilities, and how your existing finances can be utilised towards the achievement of your financial goals. Your Personal Financial Recommendation will also agree the cost of achieving your objectives, and include any supporting documentation including fund fact sheets and KIIDs (key investment information documents). Finally, they will ask your approval and confirmation of the Recommendation they have proposed.
Phase 5 – Implementation
It's time to implement the Recommendation. Every course of action they have recommended in your Personal Financial Recommendation must now be implemented by you and your adviser.
Phase 6 – Review the Recommendation & Progress Updates
If required, review dates will be agreed and can take place annually or more regularly if required or requested, ongoing fees will be agreed as to which service level is required. The purpose of regular monitoring of your Personal Financial Recommendation is to enable you to clearly see progress towards reaching your financial goals, and for our advisers to make any course adjustments that may be required. Working closely with you they will explain overall how the plan is going and agree with you any modifications to keep it on track towards the achievement of your goals.
TAX TREATMENT IS BASED ON INDIVIDUAL CIRCUMSTANCES AND MAY BE SUBJECT TO CHANGE, PLEASE ENSURE YOU SEEK INDEPENDENT TAX ADVICE. THE VALUE OF INVESTMENTS AND INCOME FROM THEM CAN GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.