#29 Why an Advance Care Plan should include your finances with Toby Freeman

12.09.2022

#29 Why an Advance Care Plan should include your finances with Toby Freeman In this episode it is my great pleasure to talk with Toby Freeman. Toby describes himself as a “financial advisor fortunate to have called rugby his job for 15 years”. We talk about transitioning from professional rugby player to Financial Planner, how personal experiences impacted Toby and the things that could be considered as part of financial planning ahead.

Key messages from guest

  • Toby played professional rugby for 15 years playing  abroad and for a premiership club in England 

  • Following discussion with a teammate and friend Toby had the inspiration to consider becoming a Financial Planner following his professional rugby career

  • Having conversations and developing trust with people is at the heart of good financial planning, skills Toby developed from teamwork  in rugby. 

  • A financial planner supports people to make good decisions with their finances

  • Toby describes the tough situation he found himself in following the death of a very close family member, both in a grief response and in knowing their wishes

  • The benefit of a will or LPA in place  can make a challenging situation just that little bit less challenging 

    The key things people could consider planning for:

     - How your estate is left

     - A financial plan for when you stop working

     - A plan for sickness or illness

     - Having an up to date will

     - Having a Lasting Power of Attorney

  • A Lasting Power of Attorney is needed for accessing and selling jointly held assets

  • Fall forwards not backwards! A great way of explaining proactive planning

  • Toby describes the research into brain health following the diagnosis of dementia in high profile rugby players

  • Financial advice is not just about wealth, it’s about helping people understand where they are now, where they’d like to be in the future and bridging any gaps.

Resource

Bio: Toby Freeman

“I am a Kent based financial adviser working alongside PFP Wealth Group Ltd, a Senior Partner Practice of St. James’s Place Wealth Management. Previously I was fortunate enough to call rugby my job for 15 years. I now use some of the skills from my professional rugby career to help people plan for their own future.

I help clients look at:

-𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠-We look at the “what if” scenarios and explore which insurance products may be most suitable for you. For example, what if you are unable to work due to long term illness or accident?

-𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠-What life would you like to lead in retirement? Is a plan in place to achieve this? How much income do you need in retirement?

-𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐨𝐩𝐭𝐢𝐨𝐧𝐬-What potential opportunities are available to you and are they the most suitable? Have you utilised all your available allowances for this tax year?

-𝐌𝐲 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐚𝐫𝐞 𝐧𝐨𝐭 𝐥𝐢𝐦𝐢𝐭𝐞𝐝 𝐭𝐨 𝐭𝐡𝐞𝐬𝐞 𝐚𝐫𝐞𝐚𝐬-𝐏𝐥𝐞𝐚𝐬𝐞 𝐬𝐞𝐞 𝐨𝐮𝐫 𝐰𝐞𝐛𝐬𝐢𝐭𝐞 𝐰𝐰𝐰.𝐩𝐟𝐩𝐰𝐞𝐚𝐥𝐭𝐡.𝐜𝐨.𝐮𝐤/𝐚𝐝𝐯𝐢𝐜𝐞-𝐚𝐧𝐝-𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬  𝐟𝐨𝐫 𝐚 𝐟𝐮𝐥𝐥 𝐥𝐢𝐬𝐭 𝐨𝐟 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐰𝐞 𝐩𝐫𝐨𝐯𝐢𝐝𝐞-

I do what I do because of my wife her and hopefully our future family. I want to help people look into their own reasons for doing what they do and help implement plans to help them thrive

For you, my goal is to put in place a tailored financial plan to help keep your life goals, your current financial situation, and, when appropriate, your business moving in the same direction.”

 

 

What one thing will you do?

It would be great to share what resonated with you from this episode, what is the one thing you will do differently? Head to Twitter, Facebook or LinkedIn to continue these important conversations.

Thanks to all my guests for working with me to share their knowledge, experience and stories about Advance Care Planning. I hope you enjoyed listening and have insights to take away; I love hearing your reflections on the series and look forward to reviews on Spotify where you can also subscribe to the series.

Clare

Important Conversations about Important Conversations.