During times of uncertainty such as the current COVID crisis, it’s understandable that people want to be sure their financial strategies are appropriate for the times, and naturally, they look to the performance of their portfolios.
Here we outline how the team at Stratus Financial Group addresses the need for financial resilience through lifelong financial planning strategies that include measures for riding out unprecedented events that occur from time to time to achieve what really matters.
While it’s not new, financial resilience is a phrase we’re hearing more often. In terms of financial strategy, resilience is quite literally built into our approach.
We do this by taking a highly informed and realistic view of the ups and downs (both financial and personal) that can occur over a lifetime, and implement financial planning strategies that are tailored to individual circumstances.
Our approach includes carefully selected and well diversified investments, considering risks and allowing adequate cash safety nets, among a range of other considerations. Just as importantly, personal insurance including income protection and trauma cover are carefully applied to provide financial relief necessary for unexpected life events.
By definition, financial planning with inbuilt resilience strives to make the very best of the good times while providing the support necessary for riding out tough times and bouncing back as quickly as possible as circumstances improve.
Even so, volatile share markets and high unemployment rates as we’ve recently experienced, can be unsettling. However, for our clients, regular progress meetings (also known as ongoing reviews) coupled with our investment philosophy aims to alleviate the depth of concern generally felt by those less financially informed and supported.
In addition to examining financial results and changes in circumstances, progress meetings provide an important opportunity for raising concerns.
These discussions are invaluable as we can provide an informed perspective of local and global events in context of your personal financial strategy.
Our clients regularly comment on the value they receive from progress reviews with their adviser, especially the expertise and the educational opportunities provided. These progress meetings help clients feel supported but also motivated to achieve their financial goals, despite external influences.
We find that clarity drives confidence and while recent events have made an impact, many clients have expressed delight in the performance of their portfolios as “better than expected”.
This is largely due to our investment philosophy, strengthened by eight carefully defined decision-making principles. Among them is diversification (to mitigate risk), which proactively builds-in the financial resilience necessary for achieving goals.
While there is no denying the COVID pandemic has been truly awful, history will likely record the impact to investment markets as no more than a moment of disruption.
We are looking forward to seeing you at your next progress meeting. If you have any pressing concerns in the interim, or if life during COVID has forced you to rethink your goals for achieving what REALLY matters, please contact us.
Stratus Financial Group helps families, professionals, executives, business owners and retirees manage their complex financial affairs and coordinate their professional advisers.
Stratus Financial Group and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. This is general advice only and does not take into account your objectives, financial situation or needs, so you should consider whether the advice is relevant to your personal circumstances. You should also read the relevant Product Disclosure Statements (PDS) before making any financial decisions.