Meet Steven Rowe. Not yer average financial adviser.

Keep reading to learn...

...what they don't teach you in Financial Adviser school.

To find out what they don't teach you, read Steven's award winning case study below.

Firstly...

In an earlier issue of this newsletter, I announced the launch of a new award - The Lifestyle Financial Planner of The Year Award.

(Despite all my efforts to change the face of financial advice, I've never won an award. And, as most awards are 'industry' driven, and here I am urging advisers to break the shackles of the 'industry', I doubt I ever will. 😂 So I created one!)

It's a different type of award - very different from typical 'industry' awards.

It's an award designed to shine a spotlight on the only thing that really matters: how are advisers making their clients lives better?

This award focuses on the true impact that REAL financial planning has on people's lives.

Earlier issues of this newsletter explained the sort of thing we were looking for, using two great client examples from David Lamb CFP™ Chartered MCSI . (I'll put a link to these down below.)

So, how do you make your clients lives better?

We had over 40 bonafide entries for the Lifestyle Financial Planner of the Year Award 2023.

The winner, and two runners up were announced on 20th September, at BACK2Y - The Lifestyle Financial Planning Conference.

And the winner is...

Drum roll, please!

Massive congratulations to Steven Rowe - Wealth Advice for Optimistic Life-Lovers of Lucent Financial Planning!

The eleven judges decided that Steven's entry truly conveyed the life changing effect that great financial planning can have on peoples lives.

It's not just about crunching the numbers. It's about asking better questions, and being truly interested in your clients lives, understanding the pain and anguish that clients may be going through, truly caring and going the extra mile to help those clients get a better life - whatever it takes!

Steven's entry did this in spades. (see below)

Well done Steve!

Massive congratulations to the two runners up, Paul Tracey CFP APFS Chartered FCSI and Nila Mistry DipPFS RLP - Financial Life Planner

And here's the thing.... 👇

Steve's entry, and those of the shortlisted six, had absolutely NOTHING TO DO with investing, arranging financial products, saving bps, asset allocation, or arranging a portfolio.

All the stuff the 'Industry' (and the regulator) thinks is important, is mostly utter tosh.

These entries had EVERYTHING TO DO with how do we make our clients lives better!

The short listed six also included Marcus Chapman, David Lunn MSc CFP® and Howard Spargo.

Congratulations all.

Keep doing the amazing work that you are doing!

Oh, and a quick thank you to the judges... Dr. Sonya Lutter, Ruth Sturkey, Katey Pigden, Sylvia Bentham, Howard Northover, Iain Wishart, Thomas Dickson, Heather Wright, David Lamb CFP™ Chartered MCSI, Damien Rylett, Mike Wiggins

Here is Steven's Winning Entry...

Their Client Story - 'Elizabeth Brown'

Steven wrote:

"We were introduced to Liz several years ago by an existing client. Liz was caring for her husband who had suffered a brain injury and often gets very confused. Obviously, this has led to a significant change in their personal relationship as well as with Liz being burdened with responsibility of all finances.

Liz originally seemed optimistic and positive for the future and was pleased with their financial plan that showed when she could retire.

Over the next year or two, it became clear that all was not as well as it seemed on the outside. Due to work pressures, Liz was spending most of the week in Manchester (with husband at home in Birmingham).

A high powered role in a large government institution meant that she had lost the freedom she had as a contractor, which is what she was when we first met.

The constant feeling of the need to earn more and more money to sustain their lifestyle and take care of her husband had become all pervading.

Over 2-3 years, as we got to know one another better and better, I could see the pain and hurt rising to the surface.

Death of a parent and her husband's other physical issues all caused further emotional stress. Tears and faces full of hurt had become the norm at our forward planning meetings. All the smiles of the past had disappeared.

Work pressures, being away from Mr Brown and fear of giving up what was causing this pain was causing immense hurt.

Liz knew what to do, but couldn't seem able to start the ball rolling. She was trapped in a destructive thought cycle.

At a meeting I said "Liz, I know you. And I know you are deeply unhappy. I am really worried about you. You're stuck in a vicious circle and it doesn't need to be like this."

There was a pause - and then floods of tears.

I laid out how we could do something about this, if she wanted to. Liz agreed.

And so we embarked on the task of absolutely convincing Liz that her finances were sound and she didn't need to stay in that high pressure role.

This was one part of it and fairly standard for a lifestyle financial planner! We can show people they have 'enough', but sometimes, getting clients to truly believe it is the big challenge.

"We can show people they have 'enough', but sometimes, getting clients to truly believe it is the big challenge".

With Liz, this involved serious stress testing of her financial plan. More regular confirmation of how investments worked, detailed financial planning analysis and understanding of assumptions and discussion of Liz's various 'what ifs'.

At the same time, Liz started to see the psychologist we make available to all our clients, whose name is Jess, with the goal of achieving what we call 'healthy heads'.

We do not charge additional fees for this and Liz was able to see Jess as often as she wished and for as long as necessary to help prevent her slipping back into the ‘I must earn money at all costs' mindset.

Contemporaneously, we encouraged Liz to start looking at other jobs closer to home. Ones she would definitely find less stressful, at much lower amounts of salary, but that would enable her to have more head space and time to spend with her husband.

Around Easter in 2023, she finally changed to a new career. The culmination of what we have been working towards came to fruition.

Liz is still not ready to fully retire, but this is for reasons of mental stimulation (due to aforementioned brain injury, this is not always found at home), purpose and social sides of work.

However, much more time is now available, as it is a much more local job and so much less traveling. It is considerably less stressful and fewer hours.

The old Liz, the one I first met, is back and optimistic and excited about the future."

Testimonial from client.

Elizabeth Brown - I’ve always had a penchant for money. Even in my childhood I vividly remember day trips to the seaside and coming back with more spending money then I left with - and it wasn’t from the slot machines! Then through necessity - becoming the main wage earner after my husband had a traumatic accident, leaving him unable to work.

The trauma of having to protect and provide for both of us after my husband's accident left a legacy. Whilst my career soared and our finances were more secure, the pressure increased on me in my work environment. I had developed an unhealthy desire to keep on working, no matter what, to provide the money I thought we needed.

The start of my ‘relationship’ with Steven and Lucent Financial Planning was firstly grounding mine and my husband's financial future, protecting what we have now and what we might want for the future, always with a view that I could retire early to spend more time with the people that mattered. My target was to retire at 55 (or to at least have a choice). Deep down, I never envisaged I could achieve that!

Last year, at the ripe old age of 55, Steve told me I didn’t need to work anymore - and in particular I didn't need to carry on in my high pressure job.

I cried, it was a moment of relief.

But that was not the pivotal moment. It is not easy to walk away from a work commitment, even if it isn’t healthy, when you have been wedded to it for over 20 years!

The turning point in all of this was me bursting into tears when Steven told me he was worried about me! He knew me. He cared for me. We had had the same conversations every year and he knew I now needed to take action.

But where Lucent and Steven differ from other Financial Advisors is, it isn’t just the words they say, it’s the actions they put into place to support you.

Steven offered the services of Jess, their company psychologist, to support my mental health and wellbeing - and to help me see clearly!

There was no question of any charge for this and Jess’s support continued for as long as I needed it, there never was any question of stopping before I felt better about myself!

Nothing is too much trouble for Steven and the team and that goes beyond financial support.

Without Steven and Lucent, I think I would still be living each day as it comes - just surviving perhaps, but not healthily!

I now have secured a new career which I am loving, the freedom of being financially secure and excited about what the future now holds!

Thank you Steven.

They definitely don't teach this in Financial Adviser School!

Once again, congratulations to Steven, and to Paul & Nila as runners up.

I repeat. Steve's entry, and those of all the shortlisted six, had absolutely NOTHING TO DO with investing, arranging financial products, saving bps, asset allocation, or arranging a portfolio.

All the stuff the 'Industry' (and the regulator) thinks is important, is mostly utter tosh.

These entries had EVERYTHING TO DO with breaking the shackles of the 'industry' and making clients lives better!

The big question is, have YOU broken the shackles of the 'industry'?

How are YOU helping your clients to get a better life?

BLATANT ADVERTISEMENT: If you are tired of delivering traditional financial advice; focusing on financial products and investments, investment returns, charges, asset allocation, etc. then you're not alone. Many advisers are getting sick and tired of this. They know there must be a better way, a more meaningful way of delivering financial advice.

If this is you, here's what to do. Join us at Inspiring Advisers, and learn how to deliver a joined up, highly profitable, client focused, LIFE CENTRED lifestyle financial planning service proposition that changes lives. This is where you'll get your mojo back by delivering financial planning with an 'end' in mind. The 'end' is a better life for your clients - and, just as important, for you. Find out more here: www.InspiringAdvisers.co.uk

Do it now. And perhaps I'll see you at the next BACK2Y.