Your objectives
Most clients have vague objectives but have little appreciation of the likelihood of those objectives being achieved or, indeed, what would be considered a successful achievement. Objectives are often generalised, for example:
“I would like to enjoy a comfortable retirement”
“I want to ensure my estate is protected against Inheritance Tax” or
“I would like to ensure my family is protected in the event of my death”.
Whilst indications of the objective, these statements fail to clearly establish the necessary detail and many people do not understand or appreciate the linkage between them.
For any planning to be effective we must fully understand your objectives and therefore will spend as long as it takes to identify exactly what you are looking to achieve. Your objectives need to be realistic and achievable. In the event there is a gap between what you want and what you can realistically achieve, we will discuss this with you and try to find a compromise.
The action necessary to achieve your objectives, once established, will take into account a number of assumptions about future economic circumstances and will also be influenced by our next topic, your tolerance to risk.