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We provide a public service through the Registry of Fee-Only Advisers™ and we seek to help four groups: -
the public to organise their affairs better;
IFAs and product developers by providing a professional and impartial view of the effectiveness of their product designs;
the media by providing them with an alternative and non-aligned view of solutions for common financial problems;
and fee-only advisers in improving public awareness of their services.
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Financial Planner's MasterClass
This masterclass is held by Rob Noble-Warren, an international financial planner and winner of the first national Financial Planner of the Year competition. The purpose of the class is to demonstrate how to capture all the assets of a client under asset management, and how to secure an on-going client yield which is not based on transactions.
The course is a week long, and held at Mounts Bay in Cornwall, said to be one of
the 10 most beautiful bays in the world. Attendance is limited to eight
participants, and since this is a masterclass, you will need to submit one of
your recent financial plans beforehand. You will stay in a hotel on the beach
(Godolphin Arms), or within 50 yards of it
(the Marazion Hotel), and where
possible, group discussions will take place overlooking the beach or on it.
Internet access is available. Speedsailing, scuba diving and sight-seeing are
all available within 200 yards. If you wish to bring your partner, there will be plenty of time
to spend together, and the beach is suitable for children.
We provide two two-hour sessions every day, together with one-to-one discussions of practical application and relevance to the plan you have provided. Information and techniques will be taught which are not in the public domain. Sessions include: -
- what does a planner do? what does a financial planner do? what does a financial plan do? what do clients think a financial plan should do, and what do they say about it?
- what makes for good client objectives? how would you define lifestyle? discuss a method for defining a client's lifestyle.
- how to choose a profitable client. discussion of a method to identify suitable clients before meeting them.
- if we are planning for lifestyle, what will affect lifestyle in the next 30 years. discuss the effect of climate change: do clients want us to do this kind of analysis?
- how can our future assumptions be measured and applied in financial modelling. discussion of a methodology for planning which gives confidence levels.
- what are the strategic decisions that a client already makes in his/her own financial plan? are these decisions based on today's markets? discuss the effect on clients of making decisions based on commonly understood 'safe harbours' which are outdated.
- identify 15 key strategic decisions for a client to make.
- design an annual service which clients will pay 1/2% - 1% p.a. for. compare this business design to that of a transaction-based model and identify the dis-advantages.
- what are the benefits of educating clients? how does this affect the business design.
- whose plan is it anyway? a method of preparing financial plans which allow clients to stay in control. what a modern financial plan looks like.
Every evening there will be homework, which takes the form of reading a published paper on the subjects for tomorrow.
What do I need to know?
The course will be held in English, and reference will be made to financial arrangements that are typically made by executives working in Europe, with most examples being taken from the UK.
What benefit is the course to me?
This course will take you up at least one division in the way you think about the financial plans you prepare and how you deliver. As an adviser, you will become more sought after, and more effective in dealing with your clients.
What does this course not do?
This course will not cover material in our Principal's MasterClass which provides a blueprint for creating the business design of a successful fee-only wealth management practice. We will not cover marketing, promotions, team selection, annual service design, creating financial plans efficiently, web site design, or taking payments
What does it cost?
The fee for the week-long course is £910. The price includes en suite room with breakfast, and one evening meal and the celebratory beach party at the end of the course. Non-participating partners cost an extra £280, and are included in all group meals and fun time!
How can I join?
There are two courses a year, one in May, one in October. The next course starts on the 5th May 2008. Apply for a place here.
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Applications to use the fee-only approved logo can be made by emailing our office.