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The planning process

Our financial planning process is focused on you and your desired future lifestyle; only once we know your aspirations and objectives can we put a plan in place to achieve them.

We follow a six-stage planning process, which is normally followed by our ongoing review service. Therefore, should your situation, needs or objectives change, we’ll be on hand to get you back on track.

1. Initial meeting

  • We offer our prospective clients an initial meeting at our expense. The purpose of this meeting is to help you make an informed decision about whether we are the right adviser for you.
  • We will take time to get to know you, your financial challenges and your long-term objectives.
  • We will explain our services, answer any questions and outline our charges so that you are clear about our fees.
  • If you decide to engage our services, we will then complete our client agreement and start gathering all the personal information we need.

2. Discovery

  • During the discovery stage we will collect all the information we need to carry out a comprehensive analysis of your current financial situation.
  • This information will be used to identify any shortfalls and immediate priorities for action. It will also help us create your personal cashflow forecast, calculate net wealth and formulate our recommendations.
  • At this stage we will also assess the performance of your existing investment and pension portfolios, ensuring the money you have already set aside is working hard for you. We will also assess the risk profile of your current portfolios to ensure they are aligned with your personal preferences.

3. Research and recommendations

  • During this stage we will create a cashflow forecast and balance sheet so that you have a clear picture of your current financial position. We will also provide specific recommendations to help you achieve the objectives you’ve identified.
  • We will create a recommended investment portfolio tailored to your objectives and tolerance for risk.
  • We will also complete an assessment of the tax-efficiency of your existing arrangements, with suggestions on how to improve them, using simple planning strategies and available allowances.

4. Present recommendations

  • Once our research and recommendations have been finalised, we will meet with you to talk you through your financial plan and cashflow forecast. We will explain how our recommendations have been designed to make your financial objectives a reality.
  • This will also be an opportunity for you to ask any questions. We will ensure you fully understand your plan before we begin implementation.
  • Only when you are 100 percent happy with our recommendations will we proceed to the next stage.

5. Implementation

  • Leave the rest to us. We make the implementation stage as easy as possible for you by submitting all applications and paperwork to the relevant providers on your behalf. We carefully track the progress of each application and keep you informed throughout.
  • We will check (and double check) that your instructions have been implemented accurately and that all the documentation received and sent is correct.
  • If necessary, we’ll happily collaborate with any professional advisers such as your solicitor, lawyer or accountant.

6. Ongoing review service

  • Ensuring that everything stays on track is every bit as important as the initial advice and recommendations we make.
  • We will schedule regular financial planning reviews with you to assess the progress made towards your objectives. If necessary, we’ll make adjustments to reflect any changes in your situation, needs or objectives.
  • The nature and frequency of these reviews will depend on your personal needs and the level of complexity of your individual situation.

What do our clients have to say?

I’ve worked for well over 20 years in financial services; in that time, you get to know the good guys from the bad. The Sovereign team have integrity, a caring attitude and all the planning skills to back it up. No hesitation in recommending them for your financial planning needs. 10/10. Paul Dean, Bristol
For once we weren’t bamboozled by ‘financial-speak’. I was impressed by the way the Sovereign team took pains to see that we were keeping abreast of matters: some of which are, to the uninitiated like Christine and me, rather difficult to follow at times. It is comforting to know that our money is in capable hands. Vince and Christine Robertson, Thornbury, Bristol
Many thanks indeed to the team at Sovereign. They have consistently given us excellent service and quality advice. They have always been flexible and have tailored their service to our changing needs. Mr and Mrs Latimer, Thornbury, Bristol
During my many years of association with the Sovereign team they have dealt with my wife and I in a most professional and courteous manner. Their ability to explain complex financial matters in a simple way has enabled us to make informed decisions and build up a successful investment portfolio. We have no hesitation in recommending Sovereign to friends and family. Indeed, my son and daughter are now clients. Stephen and Diane Haines, Thornbury, Bristol
Sovereign provide financial advice in a very different way to any other adviser I’ve experienced. Their total focus is about ‘the vision’ (not just mine, but my husband’s too) and absolutely not about policies. They have taken time to understand what we want to achieve and have provided observations, ideas and advice that have really focused our attention on how we can reach the end goal. Thanks to Sovereign, we have a clear view of what’s possible and what we need to do. We know they’ll be supporting us every step of the way. Lorraine Jones, Cleeve, North Somerset
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Message us

    Get in touch

    01454 416 653

    Sovereign IFA Ltd, Unit 4, Thornbury Office Park, Midland Way, Thornbury, Bristol, BS35 2BS

    Office opening hours:
    8.30am – 5.00pm Monday – Thursday
    8.30am – 12.30pm Friday