A look at your financial journey
What will your first meeting include? What are the first initial steps of a financial advice journey? What can you expect after a year of financial advice? These are valid questions of any client. Here you can find an outline of what your financial journey with Westminster Wealth Management might look like.
The first steps of your financial journey
1.
Initial Review
Your Adviser and their team will work with you to outline your current circumstances and to assess your goals and needs from the planning process. They will also work with you to catalogue your assets and gather the information needed.
2.
3.
Fact Find
More information will be gathered to build a picture of your financial circumstances and the current provision in place, to assess how close you are to the goals you want to achieve. This also allows us to assess any shortfalls that may exist and look at the stability of your long term financial plan.
4.
Recommendation
After gathering all of the information we need we will build your financial plan and we will research the options available. We also prepare a simple cashflow model.
We will present our first recommendations to you, in a meeting, as a written report and answer any questions you may have.
Implementation
If you agree with our recommendations we will then begin to implement your financial plan on your behalf.
This typically consists of liaising with financial providers, setting clear mandates for Investment Managers and following up to ensure all aspects of the implementation are successfully completed.
What can we do for you ?
Read more about our wide range of offered services and how we can help you.
What is the history of Westminster Wealth Management?
Through our rich and long history, we have developed tailored expertise of the highest quality. Read more about us and our core values.
Who are our Independent Financial Advisers?
With over 55 different IFAs we can offer a tailored experience to suit your needs.
The initial meeting
The first meeting is an excellent opportunity to fully understand why you are seeking financial advice and to allow your Adviser to introduce you to the service, and support, you will receive as a client.
The meeting should take about an hour
The Introduction
Your Adviser will introduce themselves, with a very brief overview of who we are and how we can assist you.
Your Adviser will get to know you and ask you about your circumstances.
Your Adviser will explain the full range of our services and which ones will be most relevant in your initial planning.
Overview of Services
Your Adviser will go through our terms of engagement, costs of service, as well as your rights as a client, our privacy policy and your marketing preferences.
Client Disclosures
Your Adviser will discuss with you your objectives and concerns to fully understand what actions are necessary and to help you to prioritise your goals.
Your Objectives & Concerns
It is important that your planning matches the risk you are willing and able to take. Your Adviser will go through a questionnaire with you to discuss your risk level.
Attitude to Risk
Now your Adviser has a good understanding of your goals and shortfalls, they will lay out which services to prioritise.
Prioritise Services
Your Adviser will clearly lay out the actions each of you will take away from the meeting and the next steps to be undertaken in your planning process. They will answer any other questions you may have and make sure you are happy with the process so far.
Agree Actions & Next Steps
What should you bring?
Details of your existing plans and investments (including any company benefits).
Details of your income and expenditure
Proof of your current address:
Photographic driving license or your passport
Recent utility bill
Bank statement
Credit card statement
Your National Insurance number
