‘Assisted Self Management’ is designed for people who broadly fit into two categories:
– Those who are capable of managing their own investments, but lack access to the best planning tools and want ad hoc consultation from experts rather than full financial planning advice
- – Those who are earlier in their financial planning journey, or have simple needs, for whom the cost of full financial planning is prohibitive.
Morenti Founding Partner Chris Bourne said “This is another step towards helping a wider proportion of the population, rather than just a small percentage of it. I get a lot of feedback from people who watch my YouTube videos saying that they would value professional input, but they are quite happy to do the implementation side themselves and don’t want to pay a percentage of assets to an adviser.”
Under this service, clients are given access to Voyant’s renowned financial modelling software, used by all Morenti advisers to create robust, tax efficient plans for their clients, as well as step by step video tutorials on how to use each part of the software. This allows people to then build their own financial plans. In addition, users can arrange one to one ‘guidance’ calls with an adviser to help them check through the projections, validate the planning, and offer suggestions on how to fine tune it.
Bourne said “I’ve found that people invariably get all the clarity they’re looking for from a guidance session – they love working through their own plan because they’ve created it. They understand it and have ownership of it, so that increases their engagement with their financial plan no end.”
It is also possible for service users to put all their basic details into Voyant, and for a Morenti adviser to build the plan for them, ensuring all data is entered correctly before going through the findings in a one to one meeting. Access is then handed over to the client to continue with their own planning journey, and further one to one calls can be booked at any time.
Bourne went onto say “We plan to develop this service further over the months ahead by adding more educational content that guides people on all aspects of financial planning, and simple information on how they can serve their own needs using the many fantastic direct to consumer platforms out there cost effectively.” He added “There will always be a need for advice, and this service does not replace that. For certain situations, advice is critically important and highly valuable, but it doesn’t suit everyone’s needs.”
For more information on the Assisted Self Management service, email hello@morentiwealth.co.uk.
