Financial Planning? It’s just like training for a marathon bike ride says Swindon expert

By Nick Batten on 5 April, 2018

Alice Douglass, financial advisor at Grosvenor Consultancy Ltd in Highworth, has likened the training that she is currently doing for the London to Paris bike ride in August to the financial planning she does with her clients.

She said: “To train for any challenge requires careful planning. Milestones need to be reached by certain timescales and if they aren’t plans need to be adjusted. If I fail to do sufficient training for the London to Paris bike ride, there is every chance I will not be able to fully complete the ride.”

Alice warned that, for anyone doing their financial planning, an important milestone has now approached – tax year end (5 April). “If this deadline is missed,” she said, “you cannot get back on your bike and certain tax allowances will be lost.”

Alice feels that if clients start planning for their financial futures early, their goals are more likely to be met. If they leave this too late, they may need to “adjust their expectations” or, if planning for their retirement, for example, work for longer.

By her own admission, Alice is a “complete novice cyclist” who has only recently got onto a road bike. She has got a training plan mapped out and has taken on the help of her neighbour who is a “cycling expert.”

She explained: “My neighbour, Woody, has provided me with all of the equipment I have needed, including the bike. We have mapped out a plan together and he ensures I am keeping to it.”

Alice says that Woody is a bit like a Financial Adviser.

His advising her on the best equipment is like her recommending the right investment vehicle for her clients. The training plan is like the financial plan Alice works on with her clients and the annual reviews Alice has with her clients are similar to Woody ensuring Alice is sticking to the plan.

To find out more about tax year-end planning and financial planning, visit Alice’s website

Pictured above: Alice Douglass