There was a distinct sporting theme to the South Wales branch meeting in March, with two notable Welsh Rugby professionals in tow, reports Gemma Davies CFPCM.
We were delighted to welcome former Welsh rugby legend and British Lion Martyn Williams OBE who was present in the audience and Andrew Lewis, former Cardiff Blues and Wales prop and now Investment Manager and Divisional Director for Brewin Dolphin, attending as a presenter. Perhaps the only person missing was BBC's Jason Mohammad to recap on the mornings events! You would almost be forgiven for thinking that with that line up the theme would be sports-related but today it was all about Cashflow Forecasting – a core element of the Financial Planning process.
Andrew's presentation focussed on the timing, averaging and ravaging of a range of risk-rated portfolios.
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He looked at the effect of these variables on long term returns, citing research compiled by the newly created Wealth Management Association (APCIMS replacement). The key lesson we learned from his session was that, ultimately, clients can benefit from Cashflow Forecasting to judge the effect of market conditions and unexpected raids on their portfolio.
Keynote speaker, our very own Richard Gough FIFP CFPCM of Castle Court Consulting, then opened the floor up to an interesting debate on the use of Cashflow Forecasting within our practices. We discussed the importance of using grounded assumptions when working with clients, who rely on this exercise as a road map for the rest of their lives. He also provided useful tips for those who are about to embark upon the assessment for the CFP certification process. Richard will deliver the second part of his presentation to the branch on 18 November – so if you can join us you will be most welcome. I'd strongly recommend it! It clearly struck a chord with Martyn Williams who tweeted following the event: "Enjoyed my first @IFP_UK South Wales meeting this morning. Top presentation by Richard Gough, @TruthAboutMoney" .
Our next branch meeting on 17 June welcomes back Abbie Tanner from A Business Innovation, Jim Jackson of Independent Healthcare Solutions and Shaun Sandiford of AXA Wealth- and who knows, maybe even a rugby player or two!
