Decisions, Decisions.

I was thinking about what would be an exciting subject for our blog and suddenly the clouds parted…

The famous quote “If you fail to plan, you are planning to fail!” came to mind and these wise words are as true today as they were many years ago.

We are all inundated with so much “noise” nowadays, that it’s sometimes difficult to see the wood from the trees. Geopolitical tensions are rife, politicians are vying for our support (offering us promises that they may not be able to keep), interest rates remain stubbornly low etc.

Clients often ask us questions such as; “should I be gifting funds or setting them aside to cover the costs of Care”, “are markets too high or too low?”, “do I need to worry about Inheritance Tax?”

As financial planners, it’s important for us to be aware of this “noise”, but what is really important is our clients’ objectives (or plan). We know only too well that each of our clients’ circumstances are different. Some people are financially secure, but scared. Some are blinkered by the riches that certain assets have produced for their parents, without consideration that that may not be suitable for them. Many are just too confused by everything and end up doing nothing.

With improved access via the internet, there are some that look after their finances themselves (DIY financial planning), but in the same way as the gambler only talks about the BIG WIN, the pitfalls that lurk around the corner for this approach can be seriously painful.

We don’t have a crystal ball but we work hard to understand our clients’ future plans so short term changes would not blow them too far off track.

Frazer Wilson
Senior Consultant

Telephone: +44 (0)20 7893 3456
getintouch [at] broadstoneltd.co.uk