planb_consumerbooklet

7/30/2019 PlanB_ConsumerBooklet

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PlanB

isapopularterm

usedtomeanareserved,secondaryplan,incaseafirstplanfails.
http://www.validpath-network.co.uk/


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Its rare in this life that we get everything right first time around.

In so many areas that we focus our energies on, we have to try,

try and keep trying in order to attain our desired results.

And even then, its often the case that things stilldont work out as we would

have liked or planned!

Nowhere is this more true than in the area of financial or wealth-planning.

Whereas wed like to think that wed hit the ground running after university,

or after starting a new business venture or new career, and have our first

million safely in the bank by age 30 - the harsh, practical realities of the real

world very quickly erode any such idealism.

In the real world, Plan A rarely works out. And for good reason. Plan A is

usually insufficiently informed about those factors which reduce the proba-

bility of success. Plan A may depend too much on the disinterested advice

and comment that we encounter in the financial media. Plan A has a

tendency to succumb to hype and marketing spin.

So, when your Plan A crashes and burns, what do you do? Many folk

retreat into cynicism or disillusionment, but actually what they reallyneed is

Plan B. If there is still to be a reasonable probability of rescuing your goals

from the dustbin, there has to be an effective alternative to the now

discredited strategy ofPlan A.

At ValidPath, our Members specialise in Plan B Financial Planning, recog-

nising that our (UK-based) clients need innovative, effective financial strat-

egies which achieve the following goals:

Avoid the mistakes of the past

Set reasonable and achievable financial objectives

Minimise the instances of avoidable risk

Preserve the real value of your personal wealth

Monitor and take corrective action where needed

So, do you need a Plan B? The good news is that ValidPath provides a

network of highly-competent financial planners, in locations right across the

UK. You can find their details towards the back of this booklet if you wish to

contact them directly.

Kevin MossDirector, ValidPath Ltd

PlanB


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PlanBA

t ValidPath, our network of financial-planners specialise in

helping clients, who have had dissatisfactory experiences withfinancial products and planning, to transition smoothly to a

genuinely effective Plan B approach.

To help you understand what this might mean in practice, in the following

table we have summarised some of the main differences between failing and

successful strategies. Please at this stage, dont worry about the detail - it is the

big picture which matters if you are going to benefit from our Plan B service.

Building ones financial wealth is at best of secondary impor-

tance, and very frequently at the end of a list of other

financial priorities which tend to be focused on the short-

term.

Recognises that what you dont keep for yourself and your

family, you will almost invariably lose. Plan B clients pay

themselves first, not because it is selfish, but because it is

the only way to adequately future-proof our lives.

Develop a touching faith in the State to protect you when

you are vulnerable, and to support you financially in your old

age.

Recognises that there is a growing tendency for the State to

let down those who are most at risk, and therefore the

safest option is to make adequate financial provision for

oneself and ones dependants.

Acquire significant commitments (eg. Large mortgage, HP,car-loans other forms of credit) without first of all exploring

the longer-term impact on your personal wealth.

Establishes a realistic and affordable budget for stuff whichdoes not result in the wholesale erosion of your own future.

Acquire investments and other medium to long-term assets

on an ad-hoc basis, resulting in an often ill-coordinated

collection of plans. This may lead to far higher costs than

necessary, inappropriate levels of risk, and significant under-

performance.

One consolidated account allowing you to hold all your

investments in a wholly organised and well-managed way.

This allows you to spend time on planning rather than

seeking to impose a fragile sense of order on chaos.

Attempt to beat the market, based on last years

performance data - often wholly dependent on the

ephemeral returns generated by boutique fund managers,

and paying totally unnecessary fees for the privilege.

Simply buy the market inexpensively, and save yourself a

huge amount of money in the process. Dont worry aboutthe detail - this is what we do at ValidPath.

Focus primarily on the things of financial planning, rather

than the planning itself.

Establish sane and realistic goals. Put in place effective strat-

egies to achieve them, and then monitor your progress

regularly. At ValidPath, were financial planners - this is

what we do all the time!

Theres a great deal more to the subject, but isthis enough to help you to understand whether

you should switch to Plan B?


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Your own Plan BWhen it comes to financial-planning,

frequently many of us are far from certain that

weve exhausted the possibilities of Plan A. If you are

still trying to build your personal wealth the old way, it mighthelp to think about where you are now, and where you would like

to be. Take a few minutes to work through the following table:

Liquid cash (emergency

buffer)

Capital for short-termfinancial objectives

Capital for medium-term

financial objectives

Your management of

expensive forms of

borrowing (HP, credit cards,

overdraft etc)

The repayment of key

borrowings (main and second

mortgage)

The security/continuity of

your income in the event of

ill-health

The security/continuity of

income in the event of death

of main wage-earner

Your acquisition and mainte-

nance of real asset type

investments (ISAs, unit-trusts,

stocks and shares etc)

Your progress towards

retirement at (a) the age you

choose and (b) the income

you want

The minimising of those

factors which will most

seriously deplete your

personal wealth (tax, charges

and risk)


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Advice needed!One of the key weaknesses of the Plan A

approach for most people was that it either sought

to do without proper financial-planning advice, or that

such advice was at best occasional and ad-hoc, and perhapsderived from advisers which were primarily focused on product-

sales. A Plan B strategy requires the involvement of a financial-planner.

Riverstone WealthManagement, Durham& Manchester

Deans InvestmentAdvisors, Hawick

B3 Wealth Management,RotherhamAllens Wealth

Management,

Stockport

Gillett

Financial

Planning,Cheltenham

England FinancialPlanning, Liskeard

Willis Cooper FinancialServices, Belper

David Jeffreys Ltd,Huntingdon

DL Financial Planning,Portsmouth

Swindells FinancialPlanning, Seaford

Lakin Clark FinancialPlanning, MargateThe Wow Company

(UK), Andover

Tor Financial Planning, Lymington

Professional FinancialConsultants, Oxted

David Gascoyne

Financial Services,Llangadog

Faron Partnership,Wokingham

ValidPath, Cardiff

So, if youre looking for a Plan B financial-planner...

List of London-area firms:

Allenbridge Ltd

Anderson Ross Financial Services

Charles Cameron Financial Planning LLP

Emiso Ltd

Evergreen Financial

Graham Teakle (Richmond)

Inspired Advice

Kumar Strategic Consultants

MMR Financial Consultants Ltd

Mortgage Concepts Associates

If you want a ValidPath

financial-planner to contact

you, please access our

webform by clicking here.

Emiso Ltd, Brighton

SWCO Financial

Planning, Ware

Life Cycle FinancialPlanning, Bromley

Trina Read FinancialServices, Poole
http://www.validpath-network.co.uk/Groups/15591/ValidPath/about_us/Enquiry_Form/Enquiry_Form.aspxhttp://www.validpath-network.co.uk/Groups/15591/ValidPath/about_us/Enquiry_Form/Enquiry_Form.aspx


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ValidPath Ltd is authorised and regulated by the Financial Services Authority, Firm No. 197107

Unit 16, The Globe Centre, Wellfield Road, Cardiff CF24 3PE

Tel. 02920 494495 Fax 02920 465341Email. [email protected]

www.validpath-network.co.uk

If you dont already have your own financial plan worked out, then PlanB is about as good as it is going to get - pragmatic, realistic and focused.

You may already have had unfortunate experiences elsewhere - perhaps

investments that did not pan out, promises which were not met,

inappropriate levels of risk, charges that were far higher than you

anticipated - in which case Plan B is all about getting control of your

objectives.

You may contact any firm or individual listed on the previous page in fullconfidence that you will be dealing with ethical, highly-competent

professionals who are committed to the objective of improving your

financial position. All our Member firms share the same high ethical

standards, and all adhere to the business principles of the ValidPath

network.

As an added bonus, many of the financial-planners in the ValidPath

network are linked to firms of Chartered Accountants or Chartered

Certified Accountants - which means youll get excellent tax advice to

boot.

So why not call us - or use the contact details on the previous page to

access Plan B services from the firm nearest to you?
mailto:[email protected]://www.validpath-network.co.uk/http://www.validpath-network.co.uk/mailto:[email protected]

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