Antony Randall

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Antony Randall

Financial Adviser

What Does A Financial Adviser Do?

Antony Randall talks about the role of a financial adviser and his journey into the industry.

I worked within the financial services sector for 8 years, for companies such as NatWest and HSBC. I loved helping people with their financial needs, especially helping them find their dream home. When the opportunity arrived to join CS Mortgage Solutions, I jumped at the chance to do what I love as a full-time career.

 

Helping someone find their dream home, the look on their face when they get the keys is the most special feeling ever, we quite literally change lives daily.

I love to be kept busy, and if I am not dealing with a client, my two young daughters certainly keep me busy.

I help people enjoy buying their home, without all the added stress this usually involves.

I would love to say footballer, however I feel that ship has certainly sailed now. I enjoy motorsport and would likely go somewhere down that route.

Spending time with my wife and two little girls, there is nothing better…. Unless the football or rugby is on, in which case my attention is drawn to that.

I have taken my taste of music from my dad, much to my wife’s disgust. For me there is nothing better than putting some Phil Collins on.

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Podcast approved by The Openwork Partnership on [xx/xx/xxxx].

In complete honesty, I fell into it. I worked in the banking sector for roughly 10 years with different financial institutions. Then, during the pandemic I passed all of my mortgage qualifications and started job searching. I went on LinkedIn and the job websites and found CS Financial Group that way.

I sent an email to Craig, the principal at the firm. I explained that I was newly qualified and hadn’t really done this role before, and asked if we could have a chat and… the rest is history.

At CS we are all self-employed, and prior to having that talk with Craig I’d been employed my whole life. I hadn’t really considered self-employment before but I decided to take that huge leap. Having such a supportive family around me helped, and I’ve never looked back – I’ve been with CS Financial Group for three years now and I wouldn’t change anything.

It’s basically to try and help people make their money work harder or ensure that they are putting it in the right place for them.

A financial advisor will talk to a client about their capacity for loss, to make sure they’re not going to invest everything they have. It’s taking into account how much risk they want to take and where to invest it accordingly.

We look at tax implications as well – because obviously no one wants to put an investment in place and then get a huge, unexpected tax bill at the end of it.

It might be to advise on general investments and tax wrappers – so things like ISAs. Pensions are a very big one for financial advisers, making sure people not only know what they potentially are going to get when they hit retirement age, but also what to do with that money once they get there.

We want to make sure they can meet their goals. You’d be surprised how many people have no idea what they’re going to get when they retire, or discover it’s actually less than they were hoping for.

We potentially need to adjust what they’re doing now to make sure they reach what they require. We’re also here to ensure that people don’t pay any more tax than they need to.

No, not really. If you’re a relatively young person and you’re just starting out, it’s no bad thing just to have a chat with a financial adviser. It may not go any further in terms of implementing anything at that stage. But a chat might help you decide potentially what retirement income you may need.

The sooner you can start saving, the easier it is to achieve your goals – obviously it gives you more time to do so.

If you’re reaching an age where you may be thinking about retiring and want to discuss what your options are, we can help. You might be receiving an inheritance, or you want to discuss leaving an inheritance to people and understand what the tax implications are.

There might be ways to put your money in more efficient tax wrappers. There are a lot of different scenarios. We’re always here for a chat, It may not go anywhere but there’s no harm in having that initial discussion.

Absolutely. It would depend on the level of service you would like. You can just have a normal one-off meeting when you like, and contact me when you want to discuss things. Or you could contact me every six months. You can get in touch as often as you need to.

What generally happens is we look to sit down with you roughly every year and discuss how whatever we have put in place is doing – is it reaching that goal? Do we need to adjust it? Is it going to be way more than you needed? Perhaps you can actually pay less into your pension.

Once we’ve had that initial meeting and put something in place, we’re not all finished. Realistically, I am now your financial advisor until you retire. So let’s make sure we sit down at regular intervals to check we’re on target to meet your goals.

The first thing we’d do would just be have a general chat to see what you’re looking for. You might come to me with a scenario or a reason why we’re having a chat.

But it may turn out that we do quite a few different things for you. I don’t just do what you want me to do – it is a holistic review to make sure that you have everything you need in place.

So we would have that initial chat, decide whether this is something that’s going to be of benefit to you to progress. We would then book an official meeting – which is mainly information gathering.

As I mentioned earlier we will explore your risk appetite and capacity for loss. I gather all of that information and generic details about yourselves – including any existing investments and pensions, because all that needs to be incorporated in my advice.

Then I would go away and decide potentially what’s going to be the right thing for you. We then have another chat to explain potentially what we’re looking at doing. We’ll see if you are happy with this or if you want to change anything.

So we might have two meetings. We could end up having three, four or more – it is not necessarily always the same process for everyone.

In summary, we have that initial chat and go from there. It’s not the case that once we’ve had that chat you’re stuck with me. You don’t have to sign anything or pay me any money – let’s have a chat and see whether progressing with ourselves would be of benefit.

No, not at all. We’re just going to have that conversation. I’m not here to judge you on whether you know anything about finance or anything. I am literally just there to help. At the end of the day, if I can’t help or if you decide you don’t want to proceed, that’s up to you.

There wouldn’t be any fee. It would just be a case of me gathering all of that information and deciding what we’re going to potentially do, based on what’s happened within that meeting.
So get in touch and let’s see how I can help you.

Approved by The Openwork Partnership on [xx/xx/xxxx].

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.