What 1 Year Of Being Independent Financial Planners Has Taught Us

We started 8 Financial Planning in February 2022 and this is what a year of being independent financial planners has taught us.

 

Following over 15 years of working in financial services, we wanted to do things differently for our clients. 

 

We wanted our focus to be on delivering our client’s hopes, dreams and aspirations. 

 

With that focus in mind, here’s what we’ve done differently in our first year as independent financial planners:

 

• Partnered with Headspace to offer our ongoing advice clients free access to their full range of meditation and mindfulness tools.
• Released 4 free resources to support our clients with their overall health and wellbeing, not just their finances (More on these to come as one is a new birthday release!)
• Hosted two client-only lifestyle events and the third one is coming up!
• Qualified to enter The Times Top Rated Financial Advisors 2023 following the wonderful reviews left by clients.
• Spoken at schools to help children feel empowered when it comes to finances. Providing this education is something we offer to our client’s children.
• Giving talks of our own, like the one we gave on our birthday, all about having an exit plan for your business and taking care of yourself in the future.
• Having all initial meetings with potential clients done at our expense, with the only agenda being learning more about them, their hopes, dreams and aspirations.
• And so much more!

 

3 Surprising Things This Has Taught Us

 

1) People, regardless of their financial situation, are rarely motivated by money. 

 

Money, although important, is just a means to an end to getting people what they truly want more easily/quickly. We have found that by getting to understand our client’s hopes, dreams and aspirations, we are able to deliver a financial plan that works to achieve their true motivations and benefits them the most.

 

2) This shift in mindset has been a huge driver for our clients 

 

Now their goals are dream orientated rather than about a financial figure, they have a new excitement and drive to achieve them. 

 

Planning for retirement was once a needs-must, yet now it is something that excites them and is full of opportunity for them, their family and their lifestyle.

 

The way we present our cashflow plans shows clients what will happen to their income in the future, based on assumptions around spending, inflation and investment growth. 

 

This simple, clear guide allows them to make better-informed decisions on how long they need to continue working and how much they can spend in retirement.

 

The idea is that the right financial plan is life-changing. It is there to support you in having the life you want and knowing you are financially secure enough to do so.

 

3) The sense of community at 8FP has helped us stand out.

 

When we first looked into hosting client-only lifestyle events, we didn’t want them to feel corporate or be something clients go to just because. 

 

We wanted to create a community environment where our clients could meet in a relaxed way and do something new – We’ve seen a choir, done wine tasting, had afternoon tea and soon we will be doing pottery. 

 

This isn’t a requirement for being a financial planner and it certainly wasn’t expected of us by any of our clients. However, these events have become something we all look forward to.

They have given 8FP a personal feel that makes our clients feel more supported and relaxed about their finances.

 

A sense of community goes a long way in helping people feel comfortable and supported. Which is why we have many plans to take this even further in 2023.

 

So, now you know what 1 year of being independent financial planners has taught us, what’s next?

 

This is just the start of our plans here at 8 Financial Planning.

 

Our calendar is already filling up with events, talks, resources and more for 2023 for our current, and potential, clients.

 

We have lots coming up and it will all be announced first in our monthly newsletter, which you can join here.

 

Here’s a birthday gift!

 

For right now though, here is our latest resource for you to celebrate our birthday with us!

 

The 8FP Bucket List

This resource is to get you on the 8FP way of thinking.

 

It’s designed to make you think about your hopes, dreams and aspirations, instead of a financial figure to aim for.

 

Once you’ve got these down on paper, we can have a chat about making them become a reality for you.

 

Download The 8FP Bucket List here.

 

Then, once you’re done, book a chat with us here.

 

Here’s to your 2023 and beyond!

 

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Why are we called 8 Financial Planning? Find out here.