Financial Planning Tips, Tools and Processes

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Financial Planning Tips, Tools and Processes

  1. 1. Use of Excel in Financial Planning Sandy Robertson FIFP CFP Acumen Financial Planning Tips, Tools and  1 Processes
  2. 2. Management facing excel • Financial Independence Report • Annual Financial Planning Report • Rebalancing authorisation Financial Planning Tips, Tools and  2 Processes
  3. 3. Management facing excel • Fund comparison • Active passive trial • Stats on products being reviewed • Stats on products eligible and on the way to platform Financial Planning Tips, Tools and  3 Processes
  4. 4. All process one way or another • Administration of course, but also • Simulation what if? • Stimulation OK, so I could retire next year! • Education OK, I see it now • Planning helping, documenting the classic 6 step process Financial Planning Tips, Tools and  4 Processes
  5. 5. IFP planning process • Establish life goals • Gather data • Analyse the data provided • Prepare Financial Action Plan • Implement the plan • Review the plan on a regular basis Financial Planning Tips, Tools and  5 Processes
  6. 6. Organisational benefits? • Educate self and team • Consolidate thinking and ideas • Customise to client segment(s) • Leads to better business process • Leads to scalability
  7. 7. Know our market • Mass affluent - not wealthy • No inherited wealth • Income surplus and growing capital • Busy professional people with kids Financial Planning Tips, Tools and  7 Processes
  8. 8. Financial Independence report Financial Planning Tips, Tools and  8 Processes
  9. 9. Financial Independence report • Works for our main segment • Walks client through the steps • Uses a few basic financial formulas • Develops a base scenario • Runs 8 other scenarios behind the scenes • Leads to client commitment or not! • Progress in reviews measurable Financial Planning Tips, Tools and  9 Processes
  10. 10. Financial Planning Report Financial Planning Tips, Tools and  10 Processes
  11. 11. Financial Planning Report • Works for our portfolio clients • Mix of text and numbers in one file • Uses a few basic financial formulas • Graphs driven from after tax cash flows • Prior year report becomes the agenda Financial Planning Tips, Tools and  11 Processes
  12. 12. Rebalancing Authorisation Financial Planning Tips, Tools and  12 Processes
  13. 13. Rebalancing authorisation • My best work • All in one sheet • Tax wrap / owner / rebalancing • Reduces transactions • Context for client • Sign off starts our internal process Financial Planning Tips, Tools and  13 Processes
  14. 14. Fund Comparison Financial Planning Tips, Tools and  14 Processes
  15. 15. Fund comparison • Don’t believe providers • Evidence gathering • Forms the basis for investment committee meetings Financial Planning Tips, Tools and  15 Processes
  16. 16. Active Passive Trial Financial Planning Tips, Tools and  16 Processes
  17. 17. Active Passive Trial • 5 portfolios • Identical 30% low / 70% medium tilt • Identical timing and opening value • Identical platform • Real money – not pretend • Too early to draw conclusions Financial Planning Tips, Tools and  17 Processes
  18. 18. Are we the finished article? • No, the journey never ends • This is all work in progress • Very good prototypes Financial Planning Tips, Tools and  18 Processes
  19. 19. Are spreadsheets a good thing? You bet! Financial Planning Tips, Tools and  19 Processes
  20. 20. Compliance This presentation is based on the Acumen groups understanding of current legislation and current HMRC practices, which may change . Whilst this interpretation is believed to be correct, The Acumen Group can give no guarantee in this respect or in the future. Acumen Financial Planning Ltd is authorised and regulated by the Financial Services Authority.Financial Planning Tips, Tools and  20 Processes
  21. 21. Thank you for listening Any questions? Financial Planning Tips, Tools and  21 Processes

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