Start Building your Future Knowledge.

In this issue of Broker in your Pocket, we asked Willem Verhoef about tailoring insurance service offerings, working with clients to budget according to their lifestyle needs, and offering advice on how to embark long-term financial planning or as he likes to call it “paying your future self”

1. Tell us about tailored, financial and education protection as services offerings through 1.618?

Tailoring is the cornerstone of any financial plan, whether short term or long, intricate, or simple, risk management or investing. No two people or companies are the same and with that, neither should their financial plans / portfolios be.

Financial and educational protection starts with the basic building blocks: what needs protection and against what does it need protecting? These questions can be intimidating and quite daunting and it helps to start by having a simple conversation.

This conversation allows for the exchange of ideas, outlooks, and thoughts; ultimately resulting in the formulation of the building blocks of a sound foundation and professionally structured financial portfolio, unique to our clients.

We incorporate a sophisticated analytics system that streamlines the process of linking all the ideas, outlooks, and numbers associated with them, into these building blocks. Financial and educational protection would typically then be two of these building blocks, from where the conversation can continue, to allow both client and adviser the opportunity to look at and discuss the intricacies of what each building block comprises of. It is here where the real tailoring takes place by means of incorporating the clients specific focus points into an assurance component that covers exactly what is required of it, whether being disability cover as a lump sum or rather monthly income protection, or your child’s education locally or abroad, government or private.

2. How does the 1.618 group strive to create a financial plan specific to your budget and lifestyle needs?

It is again through conversations, the exchange of ideas and analytical processing of what is being presented that we can identify ideals, perfect ratios and, ultimately, the bottom line of what a client’s cashflow, lifestyle and budget would allow us to attribute towards building their financial portfolio.

We place a high priority on the client’s peace of mind when reaching the “magic number” – no portfolio can be built or remain resilient during tough times if it comes at a cost, which the client can’t carry comfortably.

3. What advice can you provide for long term financial planning?

Long term financial planning should be a joyous and fulfilling experience, after all, who does not like getting paid!

Getting paid? Yes, indeed, your thoughts, actions, and conversations now, will be the driving force behind “getting paid” in the years to come, irrespective of the timeline at hand.

I am referring to paying your future self, now. Every item of cover / protection, every savings vehicle, every long-term investment, form the building blocks of looking after yourself in the event of something going wrong or on the other side, something going right.

Financial protection pays future you when you can’t pay yourself by means of earning a salary, after a lifechanging accident and a handsome financial asset / investment takes care of your future goal, be it a fly-fishing trip to South America or your retirement years in a seaside town.

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