Financial Planning Process

Every client who comes to OCM Wealth Management for advice is treated generally in the same way, in that the initial meeting is to gather information and see if have an affinity with each other to commence a lifelong relationship in managing your financial affairs. If we agree on developing a holistic strategy with you then at that initial meeting we will discuss your objectives and start gathering personal financial information on which we will start to build a picture of your current arrangements and future aspirations

After that, we continue gathering data and then have a further meeting to identify objectives and clarify what you have and where it is. Once we have a clear picture of what you have as regards to assets and other financial policies, then we work with you to look at developing a clear strategy based on the information below:-

Setting goals
We will spend some time talking with you to identify your goals over the short, medium and long term.  After that, we will find out details about your specific circumstances and build up a comprehensive picture of your situation, which we can then analyse. At the end of this process, we should have an agreed and clear set of objectives and a completed financial planning questionnaire on which we can then base our recommendations.

Recommendations
This leads on to the formation of a report which explains exactly how you can best reach your stated objectives and what financial solutions you need to implement to facilitate the strategy.  Our report will explain the approach we have taken and why and look at ways of minimising taxation, as well as making recommendations in all areas of your finances, to ensure the jigsaw is fully understood and clearly pieced together correctly.  This will include putting in place insurance policies if required to underpin the financial plan in the event that you become incapacitated, die or suffer from a critical illness.

The next stage is to implement that plan step by step and we will give guidance on the most suitable way to go about this, which can include recommending products available on the market at the current time.

Regular reviews
Progress needs to be revised at regular intervals, which we will agree with you and adjustments made as necessary, depending on changes in circumstances or your initial goals. All assets are managed in line with our Asset Management Philosophy, as detailed above.