Financial Planning Week 2022

To mark Financial Planning Week (3-9 October) we asked Clarion colleagues what they loved about the sector and their thoughts on this year’s FPWUK themes: busting financial planning myths and encouraging family conversations about finances.

Ron Walker, Clarion Founder

“I think one of the best parts of my job, and something that might sound counterintuitive, is that I spend most of my time telling people to spend more rather than invest more. Providing the client has an expertly crafted lifelong financial plan that is sustainable, they can fully enjoy spending more today, confident in the knowledge they will never run out of money. It’s all about getting the plan right and reviewing it regularly with a true financial planner.

“On the subject of ‘busting myths’, I would say the obvious one is that financial planning is a job for the ‘man of the house’ or ‘head of household’. In reality, true financial planning is about families and involving both partners results in better outcomes in almost every case I have ever dealt with. The partner often has different insights and thoughts about the future and as well as them positively enjoying involvement in the financial planning process, their presence will typically spark conversations that result in better clarity and a more meaningful and relatable financial life plan.”

Ella Davies, Clarion Chartered Financial Planner

“Money and finances can be difficult topics to broach within a family. Sometimes parents worry that too much knowledge would dampen their children’s ambitions or perhaps adult children may not want to ask their parents about their financial situation in case it causes worry or offence. Money is quite an emotive subject and can bring up a range of complicated feelings within a family, especially when you take account of different personalities. In my experience, families that have broached the subject and had an open conversation are quite often able to get on with the important business of enjoying their lives, which is the main thing.”

Alistair Cartwright, Clarion Head of Advice Delivery

“The most enjoyable part of my job is seeing the start-to-finish process of our client’s journey. Exploring their goals/objectives and concerns and seeing their faces when we articulate that through true lifelong financial planning, they will be able to do everything they wished to do with their lives.”

John Winstanley, Clarion Business Development Director

“A quality financial plan is a road map that shows us exactly how the choices we make today will impact our future.

“Personal finance is 80% behaviour and only 20% knowledge.

“Financial planning is a time-consuming and sometimes nerve-wracking process. Clients should not avoid dedicating hours to preparation, including some soul-searching to establish what really matters to them and how to balance their current needs with future goals.”

Sam Petts, Clarion Chartered Financial Planner

“Build it (financial plan), fund it (investment management) and stick to it (behavioural coaching)