Financial Plan
The Hermes approach to financial planning is holistic. We do not categorise you according to a formula. We look at how much you want to manage your investments and what level of support we can best give you. Together we will determine your short, medium and long-term goals, then develop and apply the plan you've agreed upon. The Financial Plan is designed to assist you in creating your very own personalised plan, whether your investment interests lie in property, shares, planning for your children's education or preparing for retirement. It is a thorough and complete strategy that incorporates your goals and ambitions with realistic action plans to meet your targets and secure the financial future you want.
The Planning Process
Together, you and a Financial Advisor will take an overall view of where you are and where you want to be, both financially and in your lifestyle. We will look at what needs to be done now and in the future.
The Advice Process
Hermes prides itself on its commitment to clients and the attention given to your specific needs. We go through a series of steps to develop the right financial strategy for you. These steps are:
- Listening to understand your needs – Every individual has different needs and requirements. As such, the financial strategy for each individual needs to accomplish different goals
- Understanding your risk profile – You will be asked to complete a risk profile questionnaire. This profile tells us the degree of risk and volatility of investments you will be comfortable with. This helps us to formulate a strategy that’s right for you.
- Statement of Advice (previously known a Financial Plan) - the next step is to for us to prepare a Statement of advice (SoA) based on the personal information you have provided and your attitude to risk and volatility. The SoA summarises your current situation, investments and financial objectives, and then gives you a step by step strategy on how you can achieve your goals.
- Placing Investments – Once you are happy with the strategy, our administration team, with the guidance of your adviser will place the investments were recommended.
- Ongoing review & service – Our ongoing service packages are tailored to keep you in control of your financial strategy. We do not believe in a set and forget strategy. The world is continually changing, as are your personal circumstances and needs. It is vital that we review your strategy on a regular basis to ensure it is still appropriate for you.
The process is all about ensuring that you have an easy to follow, detailed written financial strategy covering your goals, action plans and targets. One that shows you how to diversify your risk across shares, property, fixed interest and cash.
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