Expert: Iwan Schafthuizen, MSc Facilitator: Shelley Doorey-Williams
Headlines:
- A holistic approach based on what the client wants to achieve is key to meeting their evolving needs
- Cash flow planning is important, as well as buildings in certain scenarios, in order to visualise the cashflows
- Ongoing monitoring of the client’s goals, to make sure that external events have not impacted them too much
- There is an increased evidential burden triggered by Consumer Duty, to show that the recommendations are produced to meet client goals
- Firms have found difficulty in re-allocating funds between goals as well as confirming the priority of goals
- There are concerns about the achievability of people’s goals, as they over-estimate their ability to spend and what is achievable with their asset base
