The Clarion Journey – What to expect during the Discovery Phase

Prospective clients often arrive at their initial meeting unprepared for the unique Clarion experience – particularly if they have previously retained the service of a different financial adviser.

The level of detail at each step of ‘The Clarion Journey’ is markedly different to the experience at other financial advisory firms.

The process of gathering information can often take two to three months – and we make no apology for that. Successful relationships take time to build and as a result, we never rush the process of engaging with a new client. It is as vital to the success of our journey together that clients get to know us, in the same way that we get to know and understand them and their objectives.

Each of the Clarion Chartered Financial Planners has their own team, with an Associate Financial Planner and a dedicated Adviser Client Support all of whom work closely together to provide complete client care.

Here is what to expect during the Discovery Phase of ‘The Clarion Journey’.

The Initial Meeting

This meeting will often take place in our well-appointed Alderley Edge office. Clients are invited into the home of Clarion as this provides an opportunity to get a real feel for the type of people we are, how we work and what we stand for.

In cases where is it more convenient for the client, we travel to them. Or as the pandemic has proved, Zoom calls can be very useful although at Clarion, whenever possible we always prefer a face-to-face meeting.

The expectation is that the initial meeting will take 1.5 hours. It is the opportunity to determine in detail what the client wants to achieve with their wealth and whether Clarion is the best fit for them.

We want to understand their financial position and goals more deeply than many other financial firms, as this informs our bespoke planning strategies.

A Clarion financial planner will explore what matters most to the client. Not surprisingly their responses tend to indicate that ensuring their own financial security and that of their children is high on their list of objectives. Clients also need to be confident they can live the lives they want once they have exited their business or retired.

At this stage, we introduce a brief practical demonstration of true lifelong financial planning using cashflow forecasting software and provide a transparent overview of our services and fees.

The initial meeting is always rewarding as it becomes apparent early in the process that we will be able to add value.

Clients are provided with an agenda prior to each meeting and minutes are sent post-meeting, summarising the discussions that took place and ensuring absolute clarity throughout.

After the initial meeting, an engagement agreement is sent electronically if the client decides to proceed. An online or hard copy confidential questionnaire, along with a values and goals analysis, are also sent for completion. These documents enable additional information to be collated before the Discovery Meeting, which is usually diarised for 3 weeks later.

The Discovery Meeting

By the Discovery Meeting, things have changed. Clients start asking more questions and look for more answers – and we are very happy with that – it is how a strong relationship builds over time.

A robust discussion is held around the confidential financial questionnaire and values and goals analysis, with the objective of developing a detailed understanding of what the client’s future looks like and what they wish to spend their accumulated wealth on.

A Clarion financial planner will then help the clients to articulate and prioritise their objectives. If a client wants to follow the England cricket team every time they go on tour Down Under for the rest of their life, we will strive to make that possible.

Sometimes the analysis of the values and goals questionnaires can throw into sharp focus some subconscious ambitions and the financial plan can be adjusted to take the newly realised goals into account. In fact, we encourage it. Clarion is founded on a strong belief in true lifelong financial planning, enabling our clients to enjoy their lives to the fullest.

Looking at the short, medium, and long-term time frames we agree one, three, and ten-year goals and objectives. We then assess the client’s attitude to investment risk to enable us to develop a strategy to allow the client to achieve these objectives efficiently.

During the Discovery Phase, we also coordinate with other advisers retained by our clients including accountants and solicitors. The key goal here is to ensure that all key advisers to the client are working in cohesion.

By the end of the Discovery Meeting, the Clarion financial planner will be armed with all of the necessary information to begin to build a client’s lifelong financial plan and a suitable strategy to achieve their specific objectives.

The next phase is Planning and Strategy.

Clarion Wealth Planning are Chartered Financial Planners, specialising in true lifelong financial planning and investment management.

Experience true lifelong financial planning at our cost: email [email protected] to book a free initial consultation meeting, which is backed by our Clarion Guarantee.