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Use of Excel in Financial Planning
Sandy Robertson FIFP CFPAcumen
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Processes
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Management facing excel
• Financial Independence Report
• Annual Financial Planning Report
• Rebalancing authorisation
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Processes
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Management facing excel
• Fund comparison• Active passive trial• Stats on products
being reviewed• Stats on products
eligible and on the way to platform
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Processes
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All process one way or another• Administration of course, but also• Simulation what if?• Stimulation OK, so I could retire
next year!• Education OK, I see it now• Planning helping, documenting
the classic 6 step process
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Processes
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IFP planning process • Establish life goals• Gather data• Analyse the data provided• Prepare Financial Action Plan• Implement the plan• Review the plan on a regular basis
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Organisational benefits?• Educate self and
team• Consolidate thinking
and ideas• Customise to client
segment(s)• Leads to better
business process• Leads to scalability
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Know our market• Mass affluent - not
wealthy• No inherited wealth• Income surplus and
growing capital• Busy professional
people with kids
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Financial Independence report
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Processes
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Financial Independence report • Works for our main segment• Walks client through the steps• Uses a few basic financial formulas• Develops a base scenario• Runs 8 other scenarios behind the scenes• Leads to client commitment or not!• Progress in reviews measurable
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Financial Planning Report
10Financial Planning Tips, Tools and
Processes
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Financial Planning Report
• Works for our portfolio clients• Mix of text and numbers in one file• Uses a few basic financial formulas• Graphs driven from after tax cash flows• Prior year report becomes the agenda
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Rebalancing Authorisation
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Processes
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Rebalancing authorisation
• My best work• All in one sheet • Tax wrap / owner / rebalancing• Reduces transactions• Context for client • Sign off starts our internal process
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Fund Comparison
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Fund comparison
• Don’t believe providers• Evidence gathering• Forms the basis for investment
committee meetings
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Processes
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Active Passive Trial
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Active Passive Trial • 5 portfolios• Identical 30% low / 70% medium tilt• Identical timing and opening value• Identical platform• Real money – not pretend• Too early to draw conclusions
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Are we the finished article?
• No, the journey never ends
• This is all work in progress
• Very good prototypes
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Are spreadsheets a good thing?
You bet!
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Compliance This presentation is based on the Acumengroups understanding of current legislationand current HMRC practices, which maychange . Whilst this interpretation isbelieved to be correct, The Acumen Groupcan give no guarantee in this respect or in the future. Acumen Financial Planning Ltd isauthorised and regulated by the FinancialServices Authority.
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Thank you for listening Any questions?
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