Your Own Financial Map
The process of personal financial planning is a coordinated review and analysis of all the factors that impact your finances.
It has two purposes; to be sure that your financial house is in order and, to determine how you will reach your goals with the assets and income available to you now and in the future
Financial Advisers can operate under one of three basic renumeration structures :
Commission only (but now having to offer a true fee alternative)
Fees offset by commission
Fee only
Advisers renumerated by commissions are paid by the sponsors of the products their clients buy. Advisers who charge fees to the client, can either, with any commissions received from the product, offset against those fees or, as with fee only advisers such as Carter & Co who are solely compensated by client fees.
We do not sell any products or receive commissions (apart from some annual servicing commissions in some instances which are offset against client fees).
Our advice is objective and independent; our interests aligned exclusively to the Clients.
The ongoing successful Management of your finances require the Three 'T's -Talent, Temperament, and Time.
It takes Talent to assess different types of and levels of risk, and to structure and monitor a diversified portfolio. Many investors do have the necessary talent.
Fewer investors have the Temperament or the patience, discipline, organisation, and objectivity needed for sound long term financial decisions.
Still fewer investors have or are willing to spend, the Time. Unless you have all three Talent -Temperament, and Time you may need an investment adviser.
It can be challenging to find an adviser whose interests are exclusively aligned to yours and who will report progress to you in an understandable and user friendly format.