Part of my role here at Informed Choice is to ensure that all our Financial Planners remain competent to do the job that they do.
One of the ways we do that is by observing the performance of the Financial Planner in front of their clients particularly when they are delivering advice to that client.
This morning I spent 40 minutes “observing” Martin do just that.
It was probably the hardest thing I have done this week because the observer has to say nothing at all!
Those of you who know me will understand how much of a challenge me keeping quiet for 40 minutes actually is.
But it was less Martin’s performance (very good by the way) and more the subject that kept me interested for all that time.
The client had asked for advice about how to fund care fees for her elderly mother. Her mother was suffering from dementia and could no longer look after herself an all too familiar problem these days.
The challenge was how to fill the gap between the retirement income provided by pension arrangements and the total cost of residential care. Quite a substantial gap in actual fact.
Fortunately savings and the proceeds from the sale of her home meant that there was sufficient money available to fill the funding gap.
Making sure it would never run out and also ensuring, if possible, that there remained an inheritance available was the twin objective.
If ever there was a need for sound Financial Planning and the benefit delivered by lifetime cash flow forecasting, care fees planning is that need.
Stress removal, certainty and reassurance; all expertly delivered by Martin during 40 minutes well spent.
