Financially happy, that is.
I’ve lost count of the times that clients have come to us for financial advice without any clear idea of what they want to achieve. They might make the appointment simply because they think that’s what you do when you hit a certain age or income bracket.
While that may be enough for a traditional financial adviser to set the ball rolling, we want more… so we can give you more.
As Financial Life Managers we look at your finances from a different perspective. We look at the role your money plays in giving you the life you want to live, and the way your behaviour and decisions shape your financial future.
We call this FinLife, and it draws on the principals of behavioural finance to understand why people make financial decisions that may not always seem rational.
For example, we might start by asking questions to uncover what makes you tick, what you value, and what motivates you.
Would you prefer to live in a comfortable home or own investment properties?
Would you rather have more holidays or be able to send you children to a private school?
Is it more important to enjoy your money now or save it for later?
These aren’t random questions, they’re founded in cognitive science.
We’ve partnered with a behavioural psychologist who has designed an evidence-based profiling system that helps us better understand how our clients think, feel, and behave around money and personal finances. And this approach is embedded in every step of your journey with us.
It’s a pioneering shift in the way financial advice should be given – because unless we understand what motivates your choices, and how your underlying assumptions and thought processes impact those choices, we cannot have the right conversations to help you make better financial decisions.
We take this so seriously, we even support our advisors to complete a psychology degree. In fact, one of our FinLife Managers wrote about his experience here.
We find it very enlightening to see how attitudes to money change when we shift the parameters from net worth to happiness. It helps people articulate what really is important to them.
We don’t measure success by the size of your bank balance. We are more interested in whether it is bringing value to your life, and making you financially happy. And that’s the true value of our values-based advice.