Archenfield seeks to answer your questions about money and to act as an independent voice , helping you decide on the best route to follow to reach your lifestyle goals.
While there are statistics which provide strong evidence that people who make use of planners experience better outcomes than those who don’t, consultation in decision making and uninvolved third-party advice lie at the heart of the benefits of a partnership with a financial planner.
Put simply:
Archenfield seeks to answer your questions about money and to act as an independent voice , helping you decide on the best route to follow to reach your lifestyle goals.
If we are honest, most of us will have to admit that we are often a little unsure of exactly where we stand financially. Of course, we know what we earn, what the mortgage costs us, where we would like to take our family on holiday - either at the end of the year or, “someday”. But many of us will not have a clear picture of what we actually want our finances to enable us to do in the longer term.
One of the benefits of Financial Planning is that it must help you see where you are , what is presently happening in your financial situation and, most importantly, where you will be in relation to your goals in 5, 10 – or more years’ time.
Each of us has a personal approach to, experience and understanding of the role of money in our own and in our family’s lives. Very often this is established for us at an early age.
This influences the choices we make – what we accumulate, what we see our resources enabling us to do and generally how we deploy those resources.
It’s against this backdrop of personality, experience, values etc., that we have to overlay our longer-term goals. When we do this we almost always end up with an end point and a timeline leading up to that.
It’s at this point we measure “where we are and what we have” and start to bring into focus “what we need to do to get there”.
And it’s only from here onwards that Archenfield will start to engage with you as to the various options you might employ to give you the best chance of realising your goals and your timeline end.
Archenfield follows an internationally accepted model which includes a number of clearly defined steps. Archenfield has informal links with other practices which follow this process, making it possible for clients to move from one practice to another and hear the same language spoken. The areas where Archenfield can provide advice – following the model above - cover most of the typical individual and business or professional practice needs and include
Where the need arises or the circumstances indicate, Archenfield’s principal financial planner will direct clients to other planning practices – all of who follow the same planning model – but who can provide other speciality services and focus areas, for example, in the areas of medical aid or short term insurance.
Archenfield follows a model which is supported both by a planning tool and backed by selected funds. The two are linked by a common objective – to target client investment objectives and to do so with the lowest possible downside risk along the way.
Obviously those objectives can be reached by using other fund managers - and this happens – but the key is always to ensure that whoever is used or put forward will over the longer term both maintain a consistent objective and whose values will underwrite that maintenance.
What Archenfield does not do is to “pick a fund or a manager ” and promote that. That is a fool’s game. Archenfield seeks to follow practices that are consistent and enduring – and where asset selection and overall approach holds out the best chance to deliver on the client’s objective.
The only question you and I want answering is – what are my best options in my circumstances -today, in a year’s time and further out.
And so an agreed to meeting schedule is set up. And we meet to take stock and review. What changes what we do is any change to our plans. If such occurs then, it’s possible we need to review existing options – and then make changes.
It should be clear that the answer to that question depends on what we want as a lifestyle – whether now or in 20 years’ time?
If we answer the question as to what lifestyle we are seeking then we will know what the present cost of that would be – and we can invest so as to be able to attain or sustain that lifestyle at the end of our timeline objective – e.g. when we retire in 10 years’ time.
The only context that makes any difference to you – is the context wherein you find yourself. You and your actual circumstances are the magnetic North we will always come back to.
The process allows for the building in of contingencies - and the revealing of the outcomes – should they happen – or not happen, as the case might be.
Uncertainty is a fact of life – reducing uncertainty – by being able to factor in uncertainties – whether its inflation, or world economics or changes to personal circumstances – reduces the level of uncertainty.
But in the end – “it’s your money”- and the choices you make are personal, private and all that really matters. So, it’s not what we think, it’s what you want. If we can see a cliff edge – then of course we will do our best to warn you if we can see that a choice you wish to make will impact on your objectives. It’s been said that it’s as much about what the planner advises you not to do, as it’s about what the planner advises you to do – which adds the value to your planning.
Generally clients arrive at our office or link up online with a question on their mind. That makes sense – but answering the one question is not financial planning. There is no context within that discussion – and so we try and avoid one-offs. Because the client loses out. And relationships build the best longer- term outcomes for clients.
We find ourselves living in an age when lifespan – disasters aside, is increasing – and that fact, together with the implications it has for our finances means that modelling our finance around anything besides a longer timeline, is, for most of us insufficient.
Many people believe that they have not “got enough” to achieve their objectives – and while that may be so, it’s precisely at that point of concern that the planner can offer the most value to a client & that is simply because a revision of objectives needs to take place. That requires that a consultation around objectives and options is arranged. It makes best sense at that point to revisit objectives and options so as to decide on the best way forward.
It’s really about exercising conscious control over your affairs and doing this with a guide can be helpful.
Consultation around these issues – can only relieve stress – and improve your life experience. the reason is that options can be more clearly brought into focus and considered. And “the unknown “ removed to a larger extent.
And all of this supports the need to meet regularly – and especially when circumstances change.
Influenced by past one-off approaches to planning , many of us experience passivity, when it comes to when we review our affairs.
Being able to pick up a phone in order to arrange a skype or address an issue with a planner is something that can make all the difference. We don’t need to be passive when in a planning relationship – we can ask questions.
We live in a world where the impact of potential taxes on our actions are an ever present reality.
Global taxation authorities work together. Information is shared. Being “in-line” with one’s international investments, succession planning and related matters is not an option - it’s a must.
In almost every developed or developing economy, these matters regularly come up – it’s a part of history and the global village we live in. There are various ways of addressing this sort of thing and as required these matters are discussed with clients who require advice.
Archenfield usually charges for time spent – and bills on an hourly basis. The first meeting – which is at no cost to clients – is where the scope of the work needing to be done is assessed.