The Life Map – Helping our clients achieve their goals
Donna and Peter* had been clients of Kensington Partners for many years. Peter is an engineer in the oil and gas industry and is a high-income earner and historically the only service we have provided was their annual tax returns. A single meeting has transformed our relationship and set Donna and Peter on a clear path to achieving their long-term goals and reducing their risk.
It was a “Life Map” meeting conducted by Associate Director Patrick Thatcher that turned the relationship around. “Traditionally, our client relationships have focussed on providing great service in relation to tax and compliance, but a Life Map discussion allows us to put the compliance aside and to gain a deep understanding of the client’s “why”, their net asset position, how they are managing risk, their current lifestyle and their goals and dreams. “
The key outcomes of the Life Map process are a one-page pictorial summary of the client’s financial affairs, and a list of opportunities to help them achieve their goals.
With the help of Shape Advisers, our wholly owned Wealth Creation business and our network of referral partners, we were able to help Donna and Peter:
- Put a wealth creation strategy in place
- Change out of an expensive superannuation fund to a lower cost fund
- Invest their superannuation funds in line with their risk profile
- Reduce the premiums on their personal risk insurances (Life, Income Protection, Trauma and TPD) and provide them with a better level of cover
- Put in place an Estate Plan (Wills, Powers of Attorney, detailed wishes and instructions on death)
- Refinance their debt to reduce their interest expense and improve their cash flow
If you’d like the opportunity to see how a Life Map can help you, please contact us.
*not the client’s real name’s