One Administrative Process
It is our belief that one of biggest problems that prevents many people from taking action on their financial affairs is a lack of organisation within their existing portfolio of insurance and investment products. In simple terms they very often do not know what they have, what they are worth, what they are protected for and against and what all the documents mean. Our administrative process resolves this by creating a client data file which contains full details of each of the insurance and investment contracts along with the clients financial planning objectives, risk profiles, and services they wishes to utilise. This is then updated at each review and hard copies or spreadsheets containing the full details are available at any point.
It is this administrative process that provides the factual bedrock on which any of the planning and investment processes that the client wishes to undertake is then based.
One Investment Service
As part of the administration and simplification of a clients affairs, we also look to restructure their investments if efficiencies can be gained by doing so.
Traditionally most people have accumulated a number of different investment and pension policies over their lifetime. This leads to a number of problems when it comes to administrating, investing and rebalancing your invested assets.
These include the following :
- It is not possible to have a single investment process that is commensurate with your risk profile for all your investments if they are being managed by a number of different life companies and fund managers.
- It is difficult to get up to date valuations quickly and efficiently from the various providers.
- It is expensive to order and collect information on policies.
A key part of our investment administrative process is to reduce the costs associated with the management of your assets. In order that we are able to do this we use the latest technology and the functionality of a “wrap” platform. In essence a wrap platform is a single administrative asset custody facility that enables us to consolidate your investments in to one place. This results in much greater control for the client and adviser alike and reduced management costs.
Learn more about the wrap platform (opens in current page)
You will be in Full Control of your Finances
By having the full details of you financial affairs documented on our financial planning system you need never again need be in doubt as to what financial policies you own, what premiums you are paying and what benefits you can expect.
By using the structure of a “wrap platform” the administration and valuation of your investment, pension and trust affairs will be simple. Instant on line valuations are available along with the ability to invest or encash holdings on line if you so wish
A Team Approach not a Call Centre
In order to keep the process as efficient as possible and to provide the client with specific points of contact during and after the planning process a team of individuals is assigned to each client. This team consists of a Financial Planner who will deal with the client on a face to face basis, a Financial Planning Analyst who will carry out much of the technical planning for the production of the planning report and a Financial Planning Support member who will deal with the data collation, administration and implementation requirements.
The main elements of the administrative process are detailed below but a full breakdown can be obtained by reading the following link.
Baxter Fensham 10 stage process (opens in current page)
Main Stages of the Administrative Process
- Client Information Collation
- Establishing Client Goals and Objectives
- Selecting Planning and Investment Processes Required
- Producing Financial Planning and Investment Reports
- Implementing Planning Recommendations
- Reviewing the Plan on Annual Basis
