As with any plan that looks years, or even decades, into the future, it will need to be reviewed and occasionally updated as circumstances change.
Normal events in the economy can cause an investment portfolio to become unbalanced, requiring us to intervene to return it to its original shape. And as a client’s needs change, it may be necessary to call on other facets of our service including investment planning, tax planning, risk management and estate planning.
A step overlooked by some financial planners is to consider worst-case scenarios. We believe it makes sense to make provision for any possible financial ‘bad hair’ days. Just because you prepare for unfortunate eventualities doesn’t, of course, make them any more likely to happen! But it can be reassuring to know that if something untoward does occur, you’re prepared.