Simon Prestcote -How clients benefit from our online financial planning service

Friday 26 June, 2020

Lonsdale Wealth Management’s independent financial advisers have adapted quickly to the challenges of working from home and social distancing, to provide a secure online financial planning service for our clients.  

Helping our clients adapt to our online financial planning service

We are helping our clients adapt to working online and can provide advice on how to share screens securely so we can both view key financial information.  We are now conducting all new business, client annual reviews and ad hoc meetings via Microsoft TEAMS or Skype.  Where clients are unable to use online services, we can offer our financial planning service over the phone. 

Using DocuSign to complete some online forms securely

Where possible documentation is being completed through online forms, and we are using verified e-signatures, or submitting scanned original paper copies.  However, this is not possible for some clients and some providers do not yet accept it.  

DocuSign have extra layers of security around the identities of the signatories and have a full audit trail as a certificate on completion is generated and includes a history of the document and which email addresses it was sent to.

Simon Prestcote, chartered wealth manager, Barnet, North London said: 

‘We have had a great response to our online financial planning reviews and new business meetings.  Many clients prefer online meetings as they can speak to us from the comfort of their own home and they save time by not coming into the office to see us.  We mainly use Microsoft TEAMS for online meetings.  Our clients don’t even have to have Microsoft TEAMS set up on their computer as we can invite them to join our meeting as a guest.  When we conduct our client financial planning reviews, we can share a client’s portfolio asset allocation.  We also share our Lifetime financial planning cashflow modelling and can make changes to the assumptions on screen and use various scenarios that we can both see online.  For example, if our client is reviewing the date when they want to retire, we can show how this decision will impact their future finances at the touch of a button.  We also use Voyant cash flow planning to demonstrate our client’s future capacity for loss.  This is very important as although equity markets have bounced considerably since their recent lows, markets are still volatile and our clients want peace of mind that if equity markets do not achieve their normal long-term average return in the short to medium term they still have enough cash to maintain their standard of living until equity markets recover. For more information on the outlook for equity markets read the JP Morgan Covid Market Bulletin – 23/6/20’

Simon Prestcote, chartered wealth manager, and member of the Barnet, North London financial planning team continued: 

‘We have recently had enquiries from people looking to co-ordinate financial planning for the first time.  Some have reviewed their finances in lockdown and made time to contact their pension providers and get up to date pension valuations.  Remember it is never too late to get independent financial advice and there are certain times in your life, for example as you approach your retirement when it is prudent to seek financial advice so you have confidence that you can achieve your financial goals in retirement. For more information read my article - When do YOU need financial advice? Using an independent financial adviser could also give you confidence to spend more of your savings knowing that through careful financial planning you will have enough income for all your required spending over the rest of your life.  Our qualified financial planners can work with you online to help you achieve your financial goals now or in retirement.  Please contact us or complete our booking consultation form and your local Lonsdale independent financial adviser will be in touch.  We always offer a free initial consultation meeting so we can understand your financial aims and we can discuss our charging structure with you before we provide financial advice.’

In Summary…

Lonsdale Wealth Management’s independent financial advisers are working online with new and existing clients to provide local financial advice.  Make your online appointment by calling our Barnet financial consultants on 0208 275 1160.

The value of investments and the income derived from them can fall as well as rise. You may not get back what you invest. 

 

 

 

 

 

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