Finding continuous improvement
As Financial Advisers ourselves, we’ve been using Beegle to facilitate client meetings to test and validate the value of Beegle when providing ongoing financial advice to clients. This week, we saw a great example of how tracking a client’s finances against projections adds real value.
Our client first came to us 3 years ago (then age 45), with the main goal being flexibility to scale back their working hours from age 55. At that time we put together some strategies to achieve this goal, running financial projections to demonstrate the outcomes.
At our review meeting this week, both clients said they are growing tired of workplace bureaucracy, and the early retirement goal couldn’t come soon enough.
Without tracking their progress towards scaling back work at age 55, that might have been the end of the conversation.
However, Beegle made it clear the clients are well ahead of target to reach their original goal. With the historical data we also understand the reason for being ahead of target. With this we could immediately start conversations around the potential to retire even sooner, and with Beegle’s detailed records of the financial strategies at play, we could start tweaking things during the meeting to better position the clients to retire sooner.
Going forward for this client, we will keep an eye on their actual vs projected values. If the current trend continues for another year or two, they will be in a position to scale back work much sooner than initially hoped. Beegle helped us clearly depict this, adapt the strategies and demonstrate to our clients the value of a relationship with a financial adviser.