The Journal - 16 Dec 2006
Contributor : Jonathan Fry

Monday

6 am shower and then breakfast, at our flat on Newcastle Quayside.

Drive into Northumberland to see one of our existing clients who has recently sold his company and has approximately £1m to invest. We have a lengthy conversation regarding pension benefits, investments and tax planning. The meeting is very much a reminder of the need for holistic financial planning advice.

Our meeting finishes at around 1pm, followed by a 50-minute drive into County Durham to visit a potential new client. I agree with the finance director that we will provide a review of the companyâ??s financial planning arrangements including the SSAS, Keyman cover and co-shareholder Assurance.

7 pm. We walk from the flat to the Theatre Royal â?? no stress, no parking problems, the advantage of having a base in the city.

Tuesday

Drive to Alnmouth for a 10am meeting with existing clients at their home. We look after approximately £600,000 for these clients via a combination of investments in their own names and held under trusts established to mitigate their inheritance tax liability.

I have a short drive to my next appointment, which is also with existing clients whom we have been dealing with for approximately 10 years. We have an enjoyable lunch and then a review meeting to discuss withdrawing some capital from their portfolio to assist with their grandchildren's school fees.

I have a relatively long drive back to the office at Richmond, North Yorkshire, arriving at around 4.30pm. I spend an hour and a half catching up with emails and talking to colleagues.

Wednesday

I have a client meeting at 9am. We discuss the documentation received from the solicitors dealing with the in specie transfer of the client's office premises from his existing SSAS into a SIPP.

In the afternoon I meet two existing clients who have drawdown arrangements.

Thursday

Another early start at 5.30am, checking emails at the office, before undertaking a long drive for an appointment with my cycling coach. Visiting a coach may seem somewhat obsessive but having cycled from Lands End to John O'Groats last July I am keen to maintain my level of fitness. Also, I have found the mental focus and discipline associated with training to be directly beneficial to the development of the firm.

Friday

Having stolen a day from the diary yesterday I have set aside the whole day for administration and talking to colleagues.

An email arrives asking if I will contribute to a financial case study for next weekend's edition of The Financial Times. I enjoy writing these articles but it will probably take a couple of hours out of the weekend.

The last couple of hours are spent reviewing the preparation for next week's client meetings. We took the decision last year not to take on any new clients with investable assets of less than £250,000. Undoubtedly, this was a worthwhile move and we find that we are spending more and more time with a more manageable number of high net worth clients.

© The Journal 2006