OPINION: It's a jungle out there

"It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change."

This quotation is often attributed to Charles Darwin.

But what is the connection with financial planning? 

Being responsive to change isn't just important for survival in the natural world.  It is crucial that any financial planning that you put in place is reviewed and that it evolves to cope with change.  It's a financial jungle out there and it changes all the time.  What was a safe path a while ago may now be treacherous. 

Anything that you put in place more than a couple of years ago is likely to be out of date and will need reviewing. 

Changes can constantly threaten to derail your financial planning.  Changes in the economy, changes in interest rates, changes in investment performance, changes in taxation, changes in legislation, changes in your circumstances, changes in your ideas, changes in what you want.  If you want to stay on the right path then it's crucial that you and your Financial Plan adapt to these changes.  

So, if you are one of our regular clients with whom we have an annual service agreement then don't worry.  We'll be keeping a close eye on everything for you and meeting with you to update everything.  In the financial jungle, we'll make sure that you're not eaten by a tiger! 

Most people don't have a financial plan.  They drift along and do the best they can, following the latest investment fad and allowing emotions to drive investment decisions.  This has been likened to an enthusiastic dog chasing every passing car - its heart might be in the right place but there's a lack of direction. 

When you're one of our regular clients, we'll guarantee that your financial planning will be reviewed at least once a year.  So, that's one more thing you can relax about.

Simon Yates
23rd September 2010