Peter Allen, 32, is a financial planner at the Liverpool office of Investec Wealth & Investment. He lives in Mossley Hill with his wife and two-year-old daughter
6.30am: Since my daughter Natalie arrived, we’ve become a family of early-risers, and there’s no doubt that she’s my alarm clock. Once I’m awake, that’s it, I’m up and in the shower, before grabbing a quick breakfast.
We’re staying at my parents’ house at the moment while our home is being extended, so it can be a little chaotic in the mornings. I eventually make my escape and jump on the bus.
8.00am: I like to be at the office early as the investment managers tend to arrive in the office as the market opens – I read the financial news online as the office starts to get busier.
By 8.30am, it’s our morning conference, which brings all the financial planners and investment managers together for an overview of the market.
The conference is broadcast from our London office and all 11 of our regional offices join the call. It’s only a 20-minute meeting, but it’s a very valuable start to the day.
Today, it’s followed by a short update from Carl Cross, one of the investment directors here in Liverpool, who shares his views on a story in today’s Financial Times. Afterwards, a few of us drift off for a short discussion about the ramifications for our clients.
9.15am: The majority of our clients are in the North West, but we regularly find ourselves travelling as far as Aberdeen and Cornwall to see those that have moved over the years.
I’ll be seeing lots of clients in the next few weeks so I spend some time preparing client paperwork for the next few days and planning my car and train journeys online.
10.30am: Next I’m visiting a client in Cressington with Marion Mulcahy, who’s one of our associate investment directors.
We put a lot of focus on the investment managers and financial planners working together, as it gives a holistic view of a client’s financial objectives. That’s one of the biggest differences to my last job and I thoroughly enjoy the joined-up approach.
Today is the first time I’ve met the 75-year-old retired couple, but I’m well prepared thanks to a full briefing from Marion about their portfolio and financial goals last week.
The focus is specifically on inheritance tax planning, and we talk how we can maximise tax reliefs and exemptions. In particular, we look at trusts and gifts for their children and grandchildren, and agree to meet again in two weeks to finalise arrangements.
12.45pm: I grab a very quick sandwich and check my emails. By 1.15, I’m in the car and heading for the motorway. I’m off to see a couple nearing retirement age who want to maximise their pension fund while they’re still earning.
It’s a 90-minute drive up to the Lakes, so I use it as a chance to call my wife Lisa on the hands-free and check on progress with our house. We were expecting the kitchen to be finished today, and I’m relieved to hear everything’s on track.
3pm: It’s a productive meeting with a very young-at-heart couple who have some big ideas for their retirement. I start the meeting by asking a series of questions to identify how risk-averse they are, and they then talk through their plans in detail, which include buying a second home, going travelling and giving some money to their grown-up son to get him on the property ladder.
I talk to them about the extent to which they are able to use pension monies to achieve this, and it is clear that they need to look at some alternative structures, too. I leave the meeting with a full proposal to write up before we meet again.
4.45pm: The journey south through the Lakes is beautiful, and I find myself listening to Radiohead’s The Bends, for most of the drive back.
6.45pm The journey home flies by, and I’m back in time to give Natalie a bath and read her a bedtime story. Lisa tells me we’ve got a date to move back into our house, so we enjoy a celebratory glass of wine before preparing a “thank you dinner” for my parents.
It’s been great staying with them, but the old saying is true – there’s no place quite like home.
