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Do You Recognise Yourself in Any of These Client Case Studies?

Posted On: Friday, August 2, 2024

“If a man is not faithful to his own individuality, he cannot be loyal to anything.” (Claude McKay)

Case study 1: Family matters

I am 68-year-old man, I sold my business and worried that my children would be ruined by inheriting too much wealth. Together with my advisor we created a Family Constitution outlining rights, values, and responsibilities for managing the family wealth. The children were involved in developing it, and adapted it significantly, particularly regarding philanthropy.

The Constitution included a plan where the children would inherit funds progressively while I was still alive, allowing me to monitor and guide their financial behaviour. The children made initial mistakes, but they shifted to more responsible investing over eight years. This process alleviated my depression and improved my spending freedom, allowing me to live life more contentedly.


Case study 2: Kindness brings happiness

My boss is a financial advisor who supported me as I needed help with my budget. Over time he helped me to eliminate my debt and adjust my expenses. This freed up money for my passion — volunteering at a domestic animal rescue group. My improved financial situation helped me buy more dog food and it also freed up more time for me to walk and groom the animals. This boosted my happiness and my work performance.


Case study 3: The power of the budget

Three years ago, we were a struggling family. I approached my advisor and he emphasised the importance of a personal budget. We had various policies and investments but couldn't contribute due to financial strain. My advisor helped us create a detailed household budget, identifying overspending areas like groceries and entertainment.

With coaching, we became mindful of our spending. Within six months, we had turned our deficit into a surplus and started planning for the future, including investments and retirement. The budgeting process was so successful that I applied the same principles to my new construction business, and it was soon turning a profit. The simple act of budgeting had turned our lives around.


Case study 4: Have the difficult conversations

I am a lady in my early 50’s. I was diagnosed with a terminal illness and needed help planning for my family's future. To make matters more complicated I am the primary breadwinner in my family. My advisor reviewed and adjusted my policies, created a slush fund for my husband, and prepared a detailed Living Will. This challenging but necessary process will ensure my family's financial stability and will allow them to grieve without distraction when I pass away. 


Case study 5: True connection is at the heart

My name is Sarah. I was sceptical of the financial industry. Through conversations about my first significant money memory, I established trust with my advisor. I shared my financial concerns and how past negative experiences had an impact on my beliefs.

Over the years, the advisor and I have built a connection through his empathetic approach and coaching. We discussed significant life experiences and values, which ensured I felt seen, heard, and valued. I gained confidence in my financial future.


Case study 6: Retirement isn’t easy

Despite the idealised image of golfing days and chardonnay sunsets, retirement can be daunting. I was unhappy in my corporate job, but I thrived after retiring. I engaged in charities, family, surfing, and travelling. But this didn’t just fall into place by accident. 

My advisor explained how he used a straightforward process involving visualisation and the five Cs: Connectivity, Challenge, Curiosity, Creativity, and Charity. These factors indicate how successful retirement can be. Rather than a sudden switch, a phased retirement can be less daunting.

The advisor’s method involved envisioning a new lifestyle and conservatively estimating its cost. We considered potential setbacks like low investment returns or a spouse’s illness. 


The ball is in your court

This article highlights the importance of personalised financial planning, which addresses clients' unique needs and values. If any of these case studies resonate with your circumstances, please get in touch with us now to fine-tune your plan.

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