Personal Solutions
Finding Your True North
True North is a software modelling tool developed inhouse by Plan B to help clients set their wealth management goals and strategy. We call it True North because just as the conventional compass points to Magnetic North which, in reality, is constantly moving, so too conventionally used financial planning models frequently steer people in the wrong direction.
If this seems like a bold claim, consider the following:
- On what basis does your current financial planner assess your individual risk profile?
- How has your current financial planner established the trade-offs you're prepared to make between reaching "Ideal" versus "Acceptable Goals"?
- With what degree of certainty can your current financial planner guarantee the delivery of your chosen financial and lifestyle goals?
Ideal and Acceptable Goals
The first stage of the True North process is to ascertain what you would like to achieve if everything in life goes to plan. We call these your "Ideal Goals".
No one likes to compromise, but we recognise you may have to make sacrifices to achieve more important goals in certain areas of your life. We call these your "Acceptable Goals".
While in a perfect world all of our clients would be able to achieve all of their "Ideal Goals", the reality is that most people will need to compromise. The True North process helps you see what you value most in life, and any compromises you may be willing to make.
The stochastic modelling we adopt recognises what returns you get on your investments, and at what time those returns are achieved. This plays an important role in the chances of reaching your goals. We use Risk Profiling to focus on finding the most reliable route to your chosen destination.
With over twenty years of helping clients to achieve, we know that by using the powerful tools available within True North, our advisers are able to identify and confront your financial objectives and to provide more control and certainty that you will reach your True North.