Monica’s Story – Financial Planning That Lasts a Lifetime!

Sunsets for a lifetime

As you know at Interface we always try to get as much information to you as we can – through the website, our guides, the podcast, on YouTube and through our blog.  In fact, our website is a hub that’s bursting with lots of useful financial information, and we get so many compliments about what we do for people that we blush!  

Relatable Information

We have been thinking about what we can do to make our information even more relatable and as you can probably imagine, over the years, we’ve helped thousands of clients manage their finances, live a better life, and make the most of their investments.  With that in mind, we thought what better way to get even more information to you than to share some of our actual client stories.  So, we have a brand-new series coming your way and this week, we’ll start with Monica’s story.  We hope you like our newest feature!

Monica’s Story – Financial Planning That Lasts a Lifetime!

It was over 25 years ago when I first met Monica, but I remember it as if it was yesterday. Monica wasn’t very trusting and that was down to her many bad experiences with men – so it clouded her judgement somewhat and perhaps, understandably so.  It was Monica’s friend – and my client – Susan who introduced us and our first meeting was held at Susan’s house as Monica preferred not to be alone at the meeting.

A Woman Striving for Independence

I’ll give you a little background on Monica.  She’d been deserted by her former husband and had reached a decision that she never wanted to be in a situation where her independence was compromised again.  She wanted to feel financially secure, not dependent on anyone else and to bring up her daughter without assistance from her former husband, or anyone else.

As soon as I met Monica, I knew that we’d get on.  There was something about her that I immediately liked, and I wanted to help her, but I realised that I was going to have to treat her with some sensitivity. It must have worked because we have now been clients and friends for more than 25 years.

Getting Monica a Mortgage

At our first meeting, Monica’s priority was to obtain a mortgage to purchase a home for herself and her daughter and I listened to her for a couple of hours so that I understood what she wanted. She was concerned about affordability and security, and I reassured her that as a Financial Planner I was going to work with her through the years to come to ensure that everything worked for her and that she would be independent, with her money managed really well.

Before arranging her mortgage, one of the first things that I did with Monica was to set her up with a new bank account which was used to manage her cash flow.  Even to this day it is an account that she still uses. 

Paying Off Monica’s Mortgage Early

Next, it was the mortgage. Back in those days, most mortgage advisors gave out endowment mortgages because of the high commission they commanded, and that is what she asked me to arrange however I refused and explained why a separate protection policy supported by a PEP would give her better value and more flexibility. She needed reassurance but she was delighted when 14 years later she was able to pay off her mortgage with the proceeds from the PEP.  To put that in perspective – that’s a full 11 years earlier than the 25-year endowment that she had been anticipating.

Values, Life Balance and Bucket Lists

Over the years we have had many conversations about values, life balance, and Monica’s bucket list. She has probably trusted and confided in me more than anyone else and she has become a friend as well as a client. This has given us both a clearer understanding of what is important to her and together with cash flow planning, we have planned Monica’s pension savings so that she has retired with a pension income that covers the expenditure of her desired lifestyle with more to spare.  In short, she will live out her life well and happily which is always my aim for all of my clients.

An Experienced Investor!

With my help from where she started, she has not only become an experienced investor she is also delighted that has invested in sustainable funds where she can feel that she is “Doing the right thing for the planet”.

A Holistic Approach to Financial Planning

As with all of my clients Monica has her estate planning sorted with her Will, Lasting Powers of Attorney and Funeral Plan in place. 

High Net Worth Clients Don’t Always Bring The Wealth I Want!

Monica has never been what many advisors refer to as a ‘High net worth’ client but for me she gives me such personal satisfaction – that’s the wealth I like!  I have helped her achieve her financial independence that she is a what I call her one of my Golden Clients.

Leave a Comment