Author: Rob Bowers

Each month, we share some of the highlights of what’s been happening in and around Blue Wealth.

Join us for lunch and a round of golf on our Annual Golf Day

We’ll be holding the Blue Wealth annual client golf day on Thursday 14 September at Bristol and Clifton Golf Club. A light buffet lunch will be served ahead of play in the afternoon.

Please email hello@bluewealth.co.uk to register your interest. It would be great to see you.

Adrian Thorley completed 2 cycle challenges

You’ll be pleased to hear that Adrian Thorley survived the two cycle challenges he’d set himself in June, raising more money for our charity partner BillyChip on the way.

First up was the Mendips Lakes and Lumps ride

Organised by a small group of locals with support and backing from the Mendip Hill AONB (area of natural beauty) unit, the ride offers people the chance to cycle the beautiful location and raise money for good causes.

Covering a total distance of 43 miles, the race started at 8.30 am on Saturday 11 June. Adrian picks up the story…

After a great night’s sleep, I was up early to walk Cooper and make myself a healthy breakfast.

Before every long event, I eat a bucket of porridge with fruit, nuts, and cinnamon. Although it seemed odd to be eating a bowl of hot porridge when the weather had been settled, warm and sunny, I needed to make sure I had plenty of fuel on board.

I have diabetes, so oats work particularly well because the energy release is slow (a bit like my cycling before anyone else says it).

Race conditions could have been better. Although it was still humid, it was fairly dull, and I quickly regretted my choice of dark lenses in my cycling glasses – in the shade it was like riding at night!

On top of the Mendips there was low cloud and drizzle which made the lanes very slippery in places. Because it was the first time it had rained in weeks, the damp roads were worse than they might otherwise have been.

The hardest part of the ride was the optional five-mile loop that I unwittingly signed up for. I was in the first group away and, when the organiser asked if anyone was planning on doing that, no one else put their hand up. One guy said he’d done it once and “never again”. That should have given me a clue.

The descent down a damp lane from Mendip Gliding Club – almost vertical in places – nearly saw me come to grief with an oncoming Land Rover and horsebox.

Unsurprisingly, what goes down must go up… The climb back to the top was horrible, but it didn’t beat me.

The highlight of the ride was when I overtook someone on the steepest hairpin of Cheddar Gorge to make a point after they had overtaken me on the descent from Shipham to Cheddar. Competitive? Me?

Key race stats:

• Time: 3 hours, 25 minutes, 31 secs
• Average speed: 14.2 mph
• Fastest speed: Topped out at 39.9 mph.

2 weeks later, it was time to tackle the Nello

The first Nello Century Cycle Challenge took place in 2000. The annual event has since raised more than £1.2 million for charity.

Having attracted 90 cyclists in the first year, these days the event has grown significantly and regularly has 1,000 people taking part.

Passing through some of the most glorious Devon countryside, this is a cycle ride that people take part in for the atmosphere, the camaraderie, and the buzz…

This race was in Devon, so my alarm went at 4 am on Sunday morning to allow time to walk Cooper before I set off. Despite the early wake-up call, I’d slept really well and raring to go. My companion on the ride later told me he had done anything but.

It was a long time since I’d ridden 100 miles. Fortunately, riding to and from the Mendips ride two weeks before made for a total 85 miles that day, so I was confident that, barring any accidents, I’d be okay.

Unlike the previous ride, the weather was excellent. It was bright, warm, and sunny, apart from on the top of Exmoor where clouds rolled in with a strong wind. The cloud and cooling wind was actually very welcome, as there is very little shade up on top.

The afternoon improved and the weather for the last 25 miles and at the finish was hot and sunny, which was great news for the organisers.

There was nothing too bad in this ride, the climbs from Dulverton towards the top or Exmoor then up again from Simonsbath were challenging but not horrible.

The highlight of the day was the camaraderie of the riders – it was a big event with more than 900 taking part, some opting to do the shorter 65 mile ride. I particularly enjoyed the banter with, and encouragement of, my companion, Simon – we agreed that riding alone is far harder.

Key race stats:

• Time: 6 hours 22 minutes 12 seconds
• Average speed: 15.5 mph
• Maximum speed: 40.5 mph – which seems an awful lot faster than it does in a car.

Also coming up this summer, I have the Great Weston Ride (75 miles) on Sunday 23 July. I would also like to do the Great Exmoor Ride (66 miles) on Sunday 10 September, but haven’t yet booked.

If you follow the Tour de France, you’ll know that the fight for the coveted yellow jersey is ruthless.

The Tour de France, or “Le Tour” as some call it, is the world’s largest annual sporting event. Held in France, the annual cycling competition consists of 21 stages, covering approximately 3,500 km.

Starting in Bilbao, the Grand Depart happened on 1 July 2023. The race will end three weeks later at the famous Champs-Élysées in Paris on Sunday 23 July 2023.

The 110th Tour included a gruelling 22 km time trial in the Alps, as well as several arduous climbing stages across all five mountain ranges in France.

The professional cyclists who tackle such a feat are undoubtedly at peak physical fitness, but winning the coveted yellow jersey takes far more than immense physical fitness – it also requires incredibly strong mental stamina.

While it may not be obvious, the mental aptitude required to excel in this kind of endurance race can provide excellent lessons around investing. Read on to discover three of them.

1. Prepare for success before the starting flag is waved

Endurance events like the Tour de France require participants to carry out extensive and consistent training.

It’s crucial for athletes to prepare their bodies and minds for the challenge ahead, and the same is true when it comes to investing.

Preparation is key to success. So, before you invest a penny, it’s important to understand your goals, your time frame, and the level of risk you are prepared to take.

Making any investment without appropriate training and preparation is foolhardy and unlikely to meet with success.

Fortunately, just as a professional trainer can help a cyclist prepare a winning training schedule, a financial planner can help you develop a sound investment strategy, tailored to help you achieve your financial goals.

2. Pace yourself

Although the 2023 Tour de France requires cyclists to race more than 3,000 km, the event takes place over 21 days.

To stay motivated and on track, the best competitors will have their own mental tricks to break the race down into small, achievable goals before allowing themselves to home in on the next one.

Novice cyclists are likely to fare better by starting with short cycle rides and extend the distance they cover in increments as their fitness and ability improve. When investing, you may find making regular, smaller investments over time beneficial, too.

Rather than investing a single lump sum, making regular small investments can mean you benefit from “pound cost averaging”.

With this approach, since you’ll be drip-feeding your money into the market, you’ll be making investments regardless of whether the markets are rising or falling. This can also be helpful in removing the emotional decision-making that often comes with investing.

Regular investing allows time to adopt a disciplined approach and may be well-suited if this is your first foray into investment.

Just as a cyclist might start with a local 20 km cycle ride, regular investing this way could provide a firm foundation to build on.

3. Stay focused on the finish line

In the same way that endurance events aren’t won in a single day, investing isn’t about achieving short-term goals.

Both require you to focus on the distant horizon, and you’re more likely to win by committing to making steady, consistent progress over time.

It’s important to stay focused on your goals and not get discouraged by short-term setbacks or fluctuations. Concentrating on your ultimate, long-term goals will help relieve any fears you might have.

The chart below helps to illustrate why this is important. The graph shows the performance of the FTSE 100 index, which tracks the performance of the top 100 companies on the London Stock Exchange, between the end of June 2002 to the end of May 2023.

Despite many downturns and two market crashes, during the course of 21 years, the index has significantly risen in value.

Source: London Stock Exchange

If you’d been put off your game by the slumps, you may have decided to sell your investments, missing the opportunity for significant gains further down the line.

So, whether you’re cycling or investing, remember to keep your eye on the prize and focus on the long game.

Get in touch

If you’re ready to take on the long game and invest in your future, we’re here to point you in the right direction and help you keep your focus.

Please email hello@bluewealth.co.uk or call us on 0117 332 0230.

Please note

The content of this newsletter is offered only for general informational and educational purposes. It is not offered as, and does not constitute, financial advice.

The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Blue Wealth Ltd is not responsible for the accuracy of the information contained within linked sites.

Blue Wealth Ltd is an appointed representative of Best Practice IFA Group Ltd, which is authorised and regulated by the Financial Conduct Authority.

For the last year, inflation has been high. If you’re worried about the effects of the rising cost of living, this guide could help you.

Figures from the Office for National Statistics show, in the 12 months to April 2023, the rate of inflation was 8.9%. This is far above the Bank of England’s target of 2%, and for much of the last year, the rate has been in double digits. 

The guide explains why needing to spend more to maintain your lifestyle could affect your long-term plans and how inflation could reduce the value of your assets in real terms.

You can also discover some of the steps you could take to “beat” inflation, including:

1. Making the most of suitable allowances
2. Shopping around for the best interest rate
3. Considering if investing is right for you
4. Reviewing your budget
5. Focusing on your long-term plan.

Download your copy of ‘How to manage the harmful effects of inflation on your wealth’ now to learn more about the effects of inflation and what steps you can take to “beat” it.

Inheritance Tax (IHT) has long divided opinion, but it’s not only controversial – many people also misunderstand how IHT works and how it’s possible to navigate the rules surrounding it.

With rising property prices and an extended freeze on IHT thresholds until 2028, more people are falling into the IHT trap.

Read on for some popular myths and learn the facts around how sensible estate planning could help you mitigate any IHT liability and leave more of your wealth to family and loved ones.

1. “It raises a lot of money for the government”

While it’s true that the UK government raised a record £7.1 billion in IHT during the 2022/23 financial year. This was more than predicted due to rising house prices, which increased estate values. In fact, HMRC’s figures showed that IHT takings had grown by £1 billion compared to the previous tax year.

By comparison, tobacco duty bought in £10 billion.

So, although there’s been an increase in IHT receipts in recent years, it doesn’t actually raise as much money as some may think.

2. “IHT only affects the super-wealthy”

While you may think that it’s only incredibly rich people who are likely to have to pay IHT, increasing property prices have meant that more people are finding themselves liable.

The good news is that a carefully considered estate plan can help protect your family and loved ones. Plus, it helps to ensure that your money and possessions are passed on according to your wishes.

Your estate is made up of your property, assets, bank account and investments. If you have a spouse, young children, or other dependants, it’s important that you write a will.

Allocating certain assets to your beneficiaries in your will can help you to ensure your estate plan is as tax-efficient as possible.

3. “My partner will inherit everything I leave free of IHT”

Don’t fall in to the trap of assuming that your spouse or civil partner will automatically inherit everything. If you haven’t written a will, your estate could become subject to the rules of intestacy.

Even if you don’t have children, if you haven’t written a will, there’s no guarantee that your spouse will inherit everything. This is just one reason why it’s so important to make sure you put your wishes in writing, in a legally binding will.

Read more: 6 important reasons to write and regularly revisit your will

Having a will is especially important if you’re co-habiting with your partner – particularly if you have children. If you’re not married, you don’t receive any special exemption on money you leave to your partner.

In the 2023/24 tax year, you and your spouse or civil partner each have an IHT allowance of £325,000. You both also have an additional £175,000 nil-rate band if you leave your home to a child or grandchild – this can also include great-grandchildren, adopted children, and foster children.

A surviving spouse or civil partner can claim any unused IHT allowances. As a result, a surviving spouse could have up to £1 million of IHT allowances, as shown below:

• 2 x £325,000 (standard IHT allowance) = £650,000
• 2 x £175,000 (property-related IHT allowance) = £350,000

So, if a surviving spouse left a £1 million estate, including a £350,000 family home, to their children, there would be no IHT charge.

4. “I can only gift £3,000 a year before it’ll be taxed”

It’s a mistake to think you can only gift up to £3,000 a year before attracting IHT.

However, there are no rules to how much you can gift in any given year, and you could choose to give away more. The catch to understand is that anything you gift above £3,000 becomes a “potentially exempt transfer” (PET).

If you survive for seven years after making the gift, no IHT will be due on its value. However, if you

die within four to seven years after making the gift, a reduced rate of IHT may be payable on the value.

This can be a complicated area to understand, so it’s a good idea to seek advice. If you’d like to give a financial gift to your family and loved ones, we can help you understand all the implications of your decision.

It may also be useful to remember that there’s an exemption on “small gifts”, allowing you to make unlimited gifts of up to £250 to different people.

Plus, for wedding gifts, you’re able to gift:

• £5,000 to a child
• £2,500 to a grandchild or great-grandchild
• £1,000 to anyone else.

5. “If I move abroad, I won’t have to pay IHT”

If you live in the UK and are domiciled here, your entire estate is potentially taxable on your death regardless of where your estate is situated.

Should you have plans to retire abroad and think this will mean you can avoid paying IHT, think again. For most people, if your estate exceeds the IHT threshold of £325,000, it will be assessable by the UK authorities in the same way as if you lived in the UK.

An estate plan can help make sure more of your money goes to those you love

Being able to pass on your wealth to your loved ones can be a challenging area to navigate. While you may think that estate planning is simply about IHT, that’s just one part of the puzzle.

We can help to protect your assets and help make sure that more of your money goes to the people you love and care for.

Get in touch

If you’d like to discuss ways you might be able to reduce a potential IHT bill and ensure those you love benefit from all your hard work, please get in touch.

Email hello@bluewealth.co.uk or call us on 0117 332 0230.

Please note

The content of this newsletter is offered only for general informational and educational purposes. It is not offered as, and does not constitute, financial advice.

The Financial Conduct Authority does not regulate estate planning, tax planning or will writing.

Remember that taper relief only applies to gifts in excess of the nil-rate band. It follows that, if no tax is payable on the transfer because it does not exceed the nil-rate band (after cumulation), there can be no relief.

Taper relief does not reduce the value transferred; it reduces the tax payable as a consequence of that transfer.

Blue Wealth Ltd is not responsible for the accuracy of the information contained within linked sites.

Blue Wealth Ltd is an appointed representative of Best Practice IFA Group Ltd, which is authorised and regulated by the Financial Conduct Authority.

As a business owner, effectively managing your finances is important. It can help you get the most out of your assets, potentially reduce tax liability, and improve the success of your business.

There are many different areas you may need to consider, from what taxes your business could be liable for to planning for your retirement. This e-zine covers essential topics and offers practical tips that could improve your finances.

The e-zine is split into four sections that cover different areas:

1. Managing your finances and long-term security
2. Getting to grips with business finances
3. Finances and your employees
4. Planning your exit strategy

Download your copy of “The complete guide to managing finances as a business owner” now.

If you have any questions about the topics covered in the e-zine or would like to review your finances, please contact us.

There’s nothing quite like the magic of live theatre. The heightened sense of anticipation as you settle into your seat, the dimming of the lights, the hushed thrill as actors take to the stage…

Even better is being able to enjoy all this and more at an open air performance.

With live entertainment being performed at outdoor venues around the UK, here are five special places worth planning a visit to this summer.

1. The Bishop’s Palace and Gardens, Wells

Come summer, open air productions are held on the stunning South Lawn of The Bishop’s Palace and Gardens.

Opera lovers should head here for La Bohème, on 30 June, and/or La Traviata the following night, on Saturday 1 July.

If pop is more your bag, grab your tickets for Bring On Back To The 80s and get ready “for a trip back in time for a night of non-stop retro anthems which will leave you captivated!”

With many more performances planned throughout summer, find out more on The Bishop’s Palace website.

2. Minack Theatre, Cornwall

Backdrops don’t come much more spectacular than at the famous Minack Theatre. Cut into granite cliffs, the extraordinary auditorium provides a stunning view over the deep-blue waves of Cornwall’s Porthcurno Bay.

Local theatre enthusiast, Rowena Cade, created this spectacular space by carving terraced seating from the rock of her cliff-top garden.

While performances take place most summer evenings, you can also tour the gardens and auditorium at other times of the year.

With live theatre, music, and comedy shows, there’s something for everyone.

This year’s highlights include Calvino Nights running from 7 to 22 June, Shakespeare’s Measure for Measure for three nights only in early July, and Louis de Bernières’ Captain Corelli’s Mandolin with eight performances between 30 July and 3 August.

For a sneak preview of what to expect, check out the live webcam on their website, but warning – it’ll be hard resist a visit once you’ve seen it on screen!

3. Regent’s Park Open Air Theatre, London

One of the largest theatres in London, this award-winning theatre sits on the edge of one of the most beautiful Royal Parks.

This summer, performances include a re-imagined version of Shakespeare’s The Tempest (suitable for everyone aged six and over), a musical revival of Jerry Herman and Harvey Fierstein’s show-stopping classic, La Cage aux Folles, and much more besides.

With plentiful performances to choose from, as well as great food and drinks available on site, a trip to this outdoor theatre will turn a trip to the capital into something extra special.

4. Brownsea Open Air Theatre, Dorset

Based in Poole, this open-air Shakespearian theatre company has been putting on large theatrical productions since 1964.

One of the biggest theatrical projects in the south, each year the annual theatre performance is set in the beautiful surroundings of The National Trust’s Brownsea Island in Poole Harbour, Dorset.

Celebrating 60 seasons on Brownsea Island, this summer you can enjoy a brilliant production of Romeo and Juliet between Wednesday 26 July and Friday 11 August.

5. Waddesden Manor, Aylesbury, Buckinghamshire

Waddesdon Manor hosts all manner of music, film, and theatre. And if you’re a movie fan and prefer large screen action, why not enjoy your favourite movies under the stars instead.

In September 2023, you can watch The Great Gatsby, Top Gun: Maverick, Elvis, or Harry Pottery and the Philosopher’s Stone on the big screen outdoors.

Monday 29 May 2023 will mark 70 years since the first ascent of Mount Everest.

Few events have encouraged and inspired people to pursue their own dreams in quite the same way as climbing Everest. Successfully climbing the highest mountain in the world requires resilience, patience, and teamwork to safely reach the peak, as does saving and investing for your future.

As challenging as it is to ascend Mount Everest, descending the mountain is far more treacherous and deadly.

According to a report in Scientific American, 56% of climbers died on their descent from Everest’s 8,850m summit. This compares with only 15% who died on their way up or before leaving their final camp.

You may be wondering what all this has to do with financial planning. Well, actually, reaching retirement is a lot like reaching a mountain summit – and the decumulation phase of your financial life can present dangers, too.

“Decumulation” is the formal word for when you begin to spend your wealth in retirement

Decumulation is the process of drawing on your accumulated assets to maintain your quality of life when you have retired.

While you may only think about financial advice in terms of accumulating and protecting your wealth, when you retire, and begin to decumulate your assets, expert financial guidance is arguably more important.

Spending your hard-earned wealth when you retire requires a careful and considered approach. And a financial planner can help ensure you have a stable and sustainable income throughout your whole retirement.

A well-laid plan is essential when you’re preparing to spend

After spending several decades in your career, contributing to a pension, and accumulating your wealth, once you’re no longer working you may think the rest is plain sailing.

Yet, when the time comes to start spending your life’s savings in retirement, financial advice is even more vital.

So, here are three important steps to help ensure a safe and secure retirement.

1. Make sure your retirement savings last a lifetime

To establish a sustainable income, first figure out how much money you need to live on, and how long your savings will need to last.

Life expectancy in the UK, according to the Office for National Statistics, is 79 years for males and 83 years for females.

As a result, depending on when you start drawing your pension, the money you’ve saved may need to last another 30 years or more. Ensuring you can live the lifestyle you want while remaining financially secure and able to leave a legacy to your loved ones will require careful budgeting.

Remember too, that your spending pattern in retirement won’t be uniform. You’re likely to be more active in the earlier years. This may mean you spend more on world travel, eating out with friends, or doing home improvements, which can be costly.

Following several years of activity, while you’ll hopefully remain busy with hobbies, you may be less inclined to travel long distances and may dine out less often.

As you enter later life, your mobility may become more limited, and you might require care, which can be costly.

A financial planner can help you work out the changing pattern of expenditure. We can act as your financial Sherpa guides, helping you find a path to sustainable retirement income and formulate a plan that gives you peace of mind that your money will last as long as your retirement.

2. Structure a sustainable and tax-efficient income

While tax-efficient accumulation helps enhance your wealth for the retirement lifestyle you desire, tax-efficient decumulation helps preserve your capital and increases the chance of having money to leave to your loved ones.

The most efficient retirement income strategy should be planned well in advance and take full advantage of all relevant tax allowances and exemptions.

If you are married or in a civil partnership, make sure you plan together. This will allow you to allocate your income and assets to maximise tax efficiency.

So, make sure you maximise all your tax allowances including:

• Income Tax allowances
• The Dividend Allowance
• Personal savings allowance.

3. Plan the order you should spend your savings – and put your pension last

When drawing up your retirement spending plan, it’s important to consider the order in which you should decumulate your savings.

Many people consider their pension to be the foundation of their retirement plan, but it may pay to delay drawing on your pension if you have other income that you can use instead.

This is because pension funds benefit from tax-free growth, interest, and dividends. As a result, leaving your pension invested can be especially helpful for maintaining capital value.

Plus, pension funds aren’t usually subject to Inheritance Tax (IHT). So, leaving your pension intact while you draw on other investments could also be an effective way to reduce your IHT liability.

Ideally, you should use cash first, followed by taxable investments, ISAs, and finally pensions.

Get in touch

Whether you’ve reached the summit and are ready to retire now or you’ve still some distance to climb, it’s never too soon to put a decumulation plan in place. If you’d like help to create a plan to structure a tax-efficient income in retirement, we can help.

Email hello@bluewealth.co.uk or call us on 0117 332 0230.

Please note

The content of this newsletter is offered only for general informational and educational purposes. It is not offered as, and does not constitute, financial advice.

Blue Wealth Ltd is not responsible for the accuracy of the information contained within linked sites.

The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Your pension income could also be affected by the interest rates at the time you take your benefits. Levels, bases of and reliefs from taxation may be subject to change and their value depends on the individual circumstances of the investor.

Blue Wealth Ltd is an appointed representative of Best Practice IFA Group Ltd, which is authorised and regulated by the Financial Conduct Authority.

While growing wealth is often an important part of a financial plan, understanding how you can use your money to reach goals and improve your wellbeing is crucial. It could help you get the most out of your wealth and lead to a more fulfilling life.

This guide offers practical steps that could help you improve your relationship with money by understanding how it’s related to happiness. It covers four essential steps to creating a financial wellbeing plan that’s tailored to you:

1. Understanding the sources of happiness that are true for everyone
2. Understanding what makes you happy
3. Creating a clear path to your objectives
4. Travelling along that path in the most effective and efficient way possible.

Download your copy of ‘Financial wellbeing: 4 steps to creating a financial wellbeing plan’ now to find out what you could do to boost your long-term wellbeing.

Each month, we share some of the highlights of what’s been happening in and around Blue Wealth.

Thank you for your continued generosity in recommending us to your family, friends, and colleagues. It means that, once again, we’ve made more donations to BillyChip, helping to support the work they do in delivering kindness to rough sleepers and homeless people.

Naomi is on a roll and has passed another financial planning exam

Naomi Davidson is firing on all cylinders in 2023. In January, she passed her R03 exam, which tested her knowledge and understanding of personal taxation. Now, just three months later, she’s passed the R05 exam, testing her knowledge on everything to do with financial protection.

Naomi tells us more…

Taking this exam on the back of the R03 exam must have been a lot of work – how did you find the revision and study needed for the R05 compared to the earlier exam?

I found it a lot easier to go straight into the next exam, as I was used to studying regularly and had established a good routine. I also don’t like to procrastinate too much as I find it hard to pick things back up after a while.

I did have a couple of weeks’ break over Christmas and the new year, though, which was nice.

How did you celebrate your success?

I’m waiting to pass my final exam before I celebrate properly! But I was relieved to be able to relax at home afterwards.

How do you manage your time between work and study?

I would usually study on one of my weekend days, and then pick a couple of evenings after work to do some mini sessions.

Are you already plotting your next exam, or are you taking a well-earned break before cracking on?

I’ve got R06 booked for 25 April. This is a case study based exam which, by the time this is published, I’ll already be studying for.

How many exams do you still have to pass before you gain your Diploma in Regulated Financial Planning?

Just one to go, which is the final written exam and all booked in.

There are six modules to the diploma, but I did the R04 exam a couple of years ago at my previous job, as it was about pensions and the one they felt was most important for me to have. So I sat that ahead of the others, which is why I ended up doing them slightly out of order.

Nathan celebrated his 10-year work anniversary

This month marked Nathan Jones’ 10th year with Blue Wealth. We acknowledged his achievement with a celebratory lunch and a voucher to his favourite restaurant – Pasture, a great steak house in the Bristol.

Here, Nathan shares more about how he came work with Rob and the changes he’s seen over the decade.

What were you doing before you joined Blue Wealth?

I was working in a compliance role for the network that Blue Wealth was authorised under. Part of my job was checking Rob’s files, which is how Rob and I knew each other. Rob reached out as he was starting to get to a stage where support was required.

Do you remember your interview and what was the role you were first hired for? 

Rob hired me as Blue Wealth was starting to grow. The business was at the very early stages, so me and Rob both took a gamble on each other. I’d like to think it has paid off!

How has your job changed over the last 10 years?

The business has gone from just Rob and I, to a business with three financial planners and a team providing support to the planners.

My initial role was to provide support to Rob as the sole planner, but as the business has grown, I now manage the whole support team as well as still providing technical and paraplanning support, too.

It has been quite a learning curve, from just having to manage myself and my own workflow, to now managing a team.

What’s been the most significant change during your time with Blue Wealth?

The growth of the business in general. We started in a small office just big enough for two of us and have moved premises twice more to accommodate the growing business.

For me, personally, it’s the changing mindset, from just managing myself to now managing a team.

What do you consider your biggest professional achievement, to date?

Three things stand out.

1. Helping grow the business to what it has become today and being an integral part of that team
2. Achieving Chartered Financial Planner status
3. Winning the Personal Finance Society “Paraplanner of the Year” award 2021/22.

What advice would you give to someone looking to work in the financial services industry?

I would always promote the financial planning industry to someone looking to get into it. There are a number of varied roles to suit differing traits in a person and it can be a very rewarding career.

What do you love most about your job?

The problem-solving element to our work. It’s satisfying to be given a complex piece of planning work for a client, which I have to analyse and provide solutions for.

The outcome of this work can also have a very positive impact on our client families’ lives, which is also very rewarding and the reason we do what we do!