Here we are at session number 66 , and we’re going to be talking about Safe Returns. This is a great interview with my friend David Crozier of Navigator Financial Planning in Northern Ireland. David specialises in serving clients who have had personal injury settlements, and those clients have very specific needs. That said, the lessons learned here are applicable to almost everybody, so listen up!
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After the main body I won’t go over the latest reviews left by listeners, because there haven’t been any! I will announce the next session topic though and I do have some excellent news on the charity weight loss.
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Imagine for a minute you have experienced some medical negligence or have had an accident at work. You will never return to work and are consigned to the benefits system for life. After a lengthy legal process you receive a very large sum of money as compensation. This money has to last for the rest of your life and so must be managed carefully and planned for accordingly.
This is the planning that David Crozier of Navigator Financial Planning is a master of, and in this interview he shares his processes and action points with us, as well as the education piece which he is careful to go through with all clients.
Interview with David Crozier
NB. I don't usually transcribe the interviews, sorry. You'll just have to listen! The rough questions I asked David though were…
1. Short biography
2. How did you come to specialise in advising personal injury clients?
3. I imagine the needs of someone in the position of having received a large settlement are very specific – can you outline what these would be?
4. The money clearly has to last for the rest of these clients' lives. Does this call for a special way of investing?
5. What sort of benchmarks do you set?
6. And how then do you invest to achieve them?
7. How often do you review the portfolios?
8. How do your clients react to market volatility? How do you manage this?
9. Are there lessons for those of us who don't have the specific challenges of personal injury clients, that we can apply to our own portfolios?
10. Where can people find out more about you and the work you are doing?
This week’s reviews
No reviews this week, for shame. Do please take the time to do this if you can. It gives me great feedback – be honest! – and helps keep me near the top of the rankings. Go to meaningfulmoney.tv/iTunes or click the big red button:
Cracking news on the weight loss, finally! I had a good chat with my friend and fellow financial planner Martin Bamford of Informed Choice in Cranleigh in Surrey. He lost five stone in seven months and went from a totally sedentary lifestyle to running ultra-marathons in two years. I figured I could learn a thing or two from him as my own efforts were proving so frustratingly slow!
So for the last four days I have been following the Primal Blueprint and I have so far shed three pounds so I am now down to 16 stone 13lbs. It’s a new stone – woohoo! Hopefully this new programme, which I am really enjoying, will give me the kick I need.
I’ll be chatting to Martin in a couple of weeks for a mid year update on goal setting
Next Session Announcement
Next time we'll be talking about Shares vs Funds. I mentioned this last week after being laid down a challenge by iTunes reviewer CF040PV. He suggested that I bang on about investing in funds and not shares, and never covered WHY I believe that to be the better option for most people . So, Shares vs Funds – the grudge match is next week’s session. If you have a question on this subject, or any other financial query that you want answering here on the show, then the best way to do that is to leave me a voicemail at meaningfulmoney.tv/askpete
That's it for this session of the MM podcast, I hope it was helpful. If I missed anything or if you have any questions, please leave them comments section below
I hope you enjoyed this session. Thanks for listening – I'll talk to you next time.