The old adage, coined by Roosevelt, that “with freedom comes responsibility” could not be more apt. Financial planning was always skilled, but with far more clients needing supporting well beyond their retirement date, and far more options, those responsibilities are more acute than ever.
That’s why we have launched our 7IM Retirement Planning Service to help advisers deliver income and growth to clients throughout the various life stages.
Whether clients are still working and grappling with school fees or university expenses, or whether they have hung up their heels in retirement but still have competing financial priorities with different goals and risk profiles, it’s all about trying to keep it simple.
Then there’s our free app, 7IMagine, which allows anyone (whether clients or not) to capture details about their own and their families’ finances in as little as 10 minutes.
A wealth of options can be incorporated into any scenario and include any number of streams of income, properties and other assets.
Using technology developed by the team behind Nintendo 64 classics GoldenEye and Donkey Kong, it allows investors to see how much more they would need to save each month to reach their long-term financial goals in a visual way.
It might not quite be Steve Bee ‘keep it simple’ style. But we have put our money, technology and resource where our mouth is.
It is crucial that we not only communicate better about retirement planning, and ditch the jargon – we have to have something to back it up, too.
Verona Smith is head of platform for Seven Investment Management
