Tag Archive for: financial adviser newcastle

What is your job role?

Financial Planner

What did you want to be when you were younger?

Football or a cricket manager.

What is your favourite food?

Definitely curry, ideally the Railway Lamb from Dabbawals!

What is the most embarrassing injury you’ve received?

I broke my ankle when being run over by my best friend. I hobbled home to watch Match of the Day and only later realised it was broken in several places.

What is your greatest inspiration?

My faith in Jesus. I love Easter where we celebrate his sacrifice for us on the cross.

What three items would you take with you to a deserted island?

Other than my family (there are four of them so it would be tricky to know which one to leave behind!), I would bring my bible, hockey stick and a ball.

What do you enjoy most about your job?

I love helping clients understand their financial situation better and their relief when they know they are going to be okay. I also feel we add real value when we help people enjoy spending their hard earned capital rather than feeling guilty when using it. We have three choices with our money – spend it now, spend it later or give it away. Our job is to help people make wise decisions about what they want to do combined with what they can afford to do.

What is something you find challenging about your work?

Paperwork. Remembering there are people at the end of the paper definitely helps, but this is certainly a “work in progress”.

What is your job role?

Financial Planner and Director of Co-Navigate

Who is your favourite author?

If I’m reading to switch off then I love a Lee Child or Michael Connelly book. I have just recently read Power of Geography and Prisoners of Geography by Tim Marshall which are fascinating books, especially in light of current events in Ukraine.

If you could only eat one meal for the rest of your life, what would it be?

I don’t like this question at all, as I’m such a foodie and I love variety! My favourite meal of the year though is Christmas dinner with all of the trimmings, so let’s say that. I don’t think I’d ever get bored of pigs in blankets.

Apart from your own jokes, what makes you laugh the most?

A good comedian. I love attending live stand-up shows and have been fortunate to see Billy Connelly twice, and he is the godfather of comedy.

What is your favourite family tradition?

Going for a family walk on a Sunday morning in the countryside. We have an elderly neighbour who has a border collie that we started walking at the beginning of lockdown to help him out. We’ve kept on doing that and it’s a great excuse to get the kids out of the house in the morning and get some fresh air.

What is your proudest accomplishment?

Definitely starting Co-Navigate. There were some real hurdles we had to jump over initially, but to see where we are today and to look back and see how far we’ve come is phenomenal. I get really excited when we discuss where we want the business to go and how we’re going to achieve it, so there’s still lots of hard work ahead.

What do you enjoy most about your job?

This is going to sound like a cliché, but helping clients achieve their life goals. When someone initially comes to us for advice they are generally expecting help with pensions and investments, but through a process of discovery and ongoing meetings we discover what they really want out of life and ensure their pensions and investments are aligned to those outcomes. To be able to put a plan into place that helps to get them there is literally life changing for them; how can I not enjoy that?

What is something you find challenging about your work?

Technology. I absolutely love tech when it works and helps our clients and Co-Navigate operate more efficiently, and as such I’m always on the lookout for new developments. However, no one piece of software can solve all of the problems, so you end up with different suppliers of tech doing different things, and getting them to talk to each other seamlessly is a constant frustration. It’s like an impossible jigsaw at times.

Dan Bullen

What is your job role?

Financial Planning Assistant.

Apart from sports, what do you do in your spare time?

We have a 1 year old golden Labrador that tends to keep us busy!

What would your pet say about you if they could talk?

I think they would tell me I’m their favourite human in the house.

What is your greatest fear?

Definitely spiders.

What’s a pet peeve you would make illegal if you could?

When people leave crumbs or bits of toast in the butter 🥴

Which is your favourite of the golf courses you’ve played at?

It is really tough to say. I’ve been lucky enough to play a lot of great golf courses, with my home course being one of them. It would have to be either Muirfield or the Old Course at St. Andrews. I don’t think I can pick one!

What do you enjoy most about your job?

Working with our clients. They always give us a good laugh during meetings!

What’s something you find challenging about your work?

I think I speak on behalf of the team when I say Jamie’s sense of humour has to be the biggest challenge!

Brenda Bailey

What is your job role?

Financial Planning Assistant

What are you happiest doing when you’re not working?

Spending time with my family, especially my grandson.

What’s your favourite theatre show?

Mamma Mia – it’s fun, you can sing along and it makes you smile.

Where is your favourite holiday destination, and why?

The Algarve in Portugal. As well as being a beautiful place, it’s the first place we went on our own after our daughters had grown up.

If you could snap your fingers and become an expert in something, what would it be?

Painting. I would love to be able to paint landscapes.

What are some causes that you care about?

Macmillan Nurses, Breast Cancer Care, Alzheimer’s Society are all causes close to my heart.

What do you enjoy most about your job?

Working with a great team, we all get on really well.

What is something you find challenging about your work?

Spending time ‘on hold’ when trying to contact providers.

Daniel Fenton

What is your job role?

Financial Planning Assistant

Do you have any hidden talents or hobbies?

My party trick is the moonwalk, so I’ll say that. As for hobbies, football (watching) and running (trying) are my go to.

Are you a morning person or a night owl?

Night owl, definitely. You’re lucky to find me with my eyes open before 11am on a weekend.

What is your favourite band and why?

Has to be ABBA. If Gimme, Gimme, Gimme doesn’t get you in the mood, what will?

Which famous figure would you most like to meet and why?

I’ll have to say Christopher Lee. An actor in my favourite films (Lord of the Rings) and also being an inspiration behind the character James Bond. It would be absolutely fascinating listening to the hundreds of stories he would have from his time in the war to his acting career.

What’s your idea of a perfect day?

Waking up just before midday with a full English breakfast, taking the dogs out for a walk with the sun shining. Then sitting in the garden with some friends waiting for Arsenal to put 6 past Tottenham. Follow that up with a BBQ and some beers and I’d say you have the perfect day.

What do you enjoy most about your job?

Attending client meetings. It’s been great being able to see who it is you’re helping and getting to know clients on a personal level. It’s nice to have a face to the name on the report!

What do you find challenging about your work?

Not challenging per se, but being new to paraplanning there are a lot of new processes to learn, and following the financial planning journey from the first contact to the implementation stage is a new experience.
Associate Firm SMP

Co-Navigate is now an Associate Firm with the Society of Mortgage Professionals, we are delighted to announce.

And we are equally excited that Director and Mortgage and Protection Adviser Lyndsey has joined the Personal Finance Society local region committee as an SMP Advocate.

The Society of Mortgage Professionals aims to raise the levels of professional knowledge and technical competence of people who work in the profession.

This announcement is reassurance for our clients that Co-Navigate strives to deliver the most professional, knowledgeable and client-focused service possible.

The SMP offers continuous development to our mortgage team to build on their experience, including research reports, analysis and technical and market articles.

After the successful application, Lyndsey says, “In being accepted, our clients can be assured that our professional standards align with the SMP. This includes voluntarily committing to the eight core principles of being an Associate Firm.”

What is a SMP Associate Firm?

Among the commitments of becoming an Associate Firm includes adopting the SMP’s:

  • Corporate Social Responsibility
  • Customer Charters
  • Diversity and Inclusion
  • Employee Training and Development

Being an Associate Firm also means we must:

  • Comply with the Code and all relevant laws and regulations.
  • Act with the highest ethical standards and integrity.
  • Act in the best interests of each client.
  • Provide a high standard of service.
  • Treat people fairly regardless of age; disability; gender reassignment; pregnancy and maternity; marriage and civil partnership; race; religion and belief; sex; and sexual orientation.

Lyndsey adds, “Through the commitment and adoption of the SMP’s ethical standards and compliance of their Code, our clients can be assured of our obligation to offer a service they can trust.

“We boast a loyal client base thanks to our client-focused service. Becoming an Associate Firm further enhances our reputation as a company that puts the best interests of our clients first.

“I am delighted that I am now an Advocate on the committee too, which is an exciting new chapter in my career. It is also an honour and privilege to serve on the committee and for Co-Navigate to be represented at such a high level.”

For more details about our mortgage service, contact us today.

Couple setting financial goals

A new year is a good time to assess your goals, whether that’s fitness, career or finances. When it comes to financial goals, consider the long-term as well as the next 12 months.

But if the start of a year is your catalyst to getting your financial house in order, our advice is get a plan in place today. Don’t leave it until tomorrow because tomorrow never comes, and you risk another year passing by without anything being done.

We know everyone has different goals and ambitions, so our tips are a useful starting point. Just remember that your financial plan is as individual as you!

Time to budget

Budgeting sounds like a very obvious place to start a financial plan. If you have no idea how much money is coming into and out of your bank account, you will find planning finances impossible.

Some people earn a good income but struggle with money because they have no budget in place. Managing your money properly gives you the ability to enjoy what you earn without over-spending and using credit excessively.

A monthly budget should include what money is coming in as well as what goes out. So write down what you are spending each month: food bills, mobile phone, utilities, mortgage, memberships, car costs etc.

There’s no point asking a financial planner to help you achieve your goals until you have an idea of your monthly budget. At a discovery meeting, a financial planner wants to know what you need to live each month, so now is the time to work it out!

Budget goals:
  • Set up a monthly budget and stick to it
  • Reduce unnecessary spending
  • Assess your budget regularly

Control your debt

When unexpected events happen, it is all too easy to grab your credit card. But debt has a nasty habit of increasing more quickly than you expect thanks to high interest rates.

Being debt free may sound like nothing more than a dream to you at the moment, but with proper financial planning it is possible. Start by setting up a repayment plan and make a commitment to stick to it; make sure you repay the most expensive debt first.

Reduce spending on treats to pay off your debt. Look at switching your credit card to one offering 0% on balance transfers. Some cards offer 0% on balance transfers for 2 years or more. This means you won’t be paying interest on top of what you owe.

Just make sure you pay more than the minimum and work out how long it will take you to repay the debt in full. In some cases, even taking a personal loan to consolidate debt can be a sensible idea, as your debt will be set to a structured repayment schedule. Just make sure you shop around for the best interest rates!

Debt goals:
  • Reduce discretionary spending where possible
  • Sell any unwanted items (such as old mobiles)
  • Have a plan in place to repay debt, starting with the most expensive debt first.

Save some money

There is one thing to learn from the past year, and that is unexpected events happen! Saving for a rainy day sounds like an old adage, but it is a very wise one.

No-one knows when they will need a few extra pounds to get them through a tricky time. Bank savings accounts are not the place to give you good, long-term returns, so don’t use them for a retirement nest egg. Having savings available for an emergency, however, is better than reaching for a credit card.

Sacrificing a few takeaways (or meals out when you eventually can) will really pay off when you need some extra cash.

Saving goals:
  • Reduce your grocery and takeaway bills
  • Find ways to save on utilities
  • Set a monthly savings goal
  • Start with short-term financial goals and work to long-term ones

Start investing

Investing allows your money to grow over time in a way that savings accounts cannot offer. Choosing to invest can be useful for long-term goals, as history shows that your money is likely to grow over time.

At Co-Navigate, we will look at your individual circumstances before suggesting if and what you should invest in. As well as the money you may wish to invest, we will consider your individual goals.

While you can invest on your own, it is always better to speak to a financial planner. They have not only studied the subject but have a wealth of experience.

Investment goals:
  • Speak to a financial planner
  • Set long-term goals

Setting goals is an important part of financial planning. Without them you are more likely to spend money you don’t have or waste it.

Our aim is to help clients relax about finances knowing they have a plan in place to ensure that they will achieve their goals. It also ensures that their family will be all right should the worst happen. Even during tough times, such as those we are facing now, knowing you have your finances in shape is one less thing to worry about.

Contact to us today to arrange a free online discovery meeting.

Person receives financial planning advice

From time to time, we get asked why people should be pay fees for financial planning advice. To be honest, it baffles me why people should expect a financial adviser to offer free services.

I believe that this is due to many misconceptions, and here just a few:

  • We are paid a commission by the companies that we advise you to invest in
  • Banks offer free ‘advice’ so why shouldn’t everyone?
  • There’s so much information online, freely available knowledge doesn’t require paying for

All of these assumptions are myths, and as the saying goes, ‘there’s nothing more expensive than free advice’.

Financial advice and fees

Independent financial advisers and planners charge fees and are only allowed to receive commission from insurance and mortgage providers.

As you’d expect we must have professional qualifications. In addition, we must continuously evidence ongoing study in the form of continuing professional development (CPD) to our professional body. This all makes sense, as you certainly wouldn’t trust your retirement to someone who doesn’t have any relevant qualifications!

All financial advisers must also have a Statement of Professional Standing (SPS). This is applied for each year to allow us to be able to give regulated financial advice. To apply we must evidence a minimum of 35 hours CPD for that year.

Financial planners start as trainees and work alongside experienced advisers for a set period. During that time, they must study outside working hours to pass examinations and coursework. Once trained, we undergo annual testing to ensure that our knowledge is continuously up to date.

Our knowledge and understanding of finance are why you pay fees. In in that respect we are no different than a solicitor or an accountant; you are paying for experienced advice.

Be held accountable

Our clients are also paying us to hold them accountable to their financial plans. We help stop them making rash decisions which could scupper their plan. We also keep them calm in times of trouble.

It is by doing this that we are confident our clients will be better off financially in the long term. As a consequence be able to make better and more informed lifestyle decisions.

We love working with our clients, and seeing them achieve their goals is priceless. But for us to delve into your finances and get to know you and what you want to achieve takes time. It also requires effort and hard work from our whole team.

Independent financial planning

When choosing a financial planner, find out what service they offer first. Is it full holistic financial planning or simply product advice? Ask them what their services will do for you. It is also important to ask them if they can offer independent advice or restricted advice. Restricted advisers are nearly always tied to a single provider such as a bank.

In my experience, this generally means they are less concerned about your ongoing costs and more concerned with selling you something.

Co-Navigate’s financial planners are exactly that, planners. We will only recommend a regulated financial product if it is necessary to be able to carry out your financial plan. We are also independent, meaning when we do make a product recommendation, we are doing so having researched the entire marketplace on your behalf.

After our initial discovery meeting which we provide at our own expense, and assuming we both agree to work together, we spend hours building a picture of your finances and linking them with your goals. And once in place, we regularly meet our clients to review their financial plan and adapt it where necessary.

Banks and ‘advice’

I believe part of the confusion is due to people historically visiting a bank or building society for ‘advice’. A phone call from the bank manager asking to see you used to be quite a daunting thing. Invariably, most people accepted the invitation. Having been ‘on the other side’, I now know that this has been a good sales tactic by the banks. As a result, they were able to get in front of their customers and sell them more products.

They may listen to you, but they will not provide a financial plan that helps you achieve your goals. Instead, they will give you the information about their products and then it’s up to you to assess which product meets your needs. But none of this has anything to do with financial planning and everything to do with buying a financial product.

Online financial planning ‘advice’

If you Google ‘best pensions’ or ‘best investments’ you will get a lot of information. This may be useful for signposting, but is so generic that it can never be called ‘advice’.

Everyone’s situation is different, particularly when it comes to finances. Your financial goals will be as individual as you are, so general information is not always helpful and can sometimes even be harmful, costing you much more in the long run.

Most people looking for help with their finances recognise that they must pay their adviser for their time and expertise, and that financial planning is much more than simply choosing a pension. I hope that this brief overview shows you why it’s money well spent.

To speak to us about our financial planning advice services, contact us today. You can also contact our Newcastle office on 0191 228 6130.

This is Jamie Bogle, Co-Navigate's Financial Planner, Co-owner and Director

The final interview with our directors is with Jamie Bogle. He is Co-owner of Co-Navigate along with fellow founder Andy Mathers. After lots of experience in finance, he now enjoys the fact he can shape his own destiny as a business owner.

Name

Jamie Bogle

What is your position at Co-Navigate?

Financial Planner, Co-owner and Director

Why did you choose a career in financial services?

I always wanted to work in finance. At university, I did a law degree, but I always knew I’d work in finance in some capacity. I worked for Barclays before I went to university as a cashier and got summer placements there while at university. I liked the finance side but mainly talking to customers and helping them with their money, that’s what I really enjoyed.

What is your experience?

After university, I worked in London for HMRC in employer compliance, but I didn’t enjoy working in the civil service with its mentality. I found it frustrating! From there, I saw a graduate financial adviser trainee position with the Co-operative Insurance Society (CIS), and I successfully applied. I looked after both insurance and financial advice. Again, I really enjoyed talking to people and trying to help them, I just didn’t enjoy the pressures of having sales targets. From there, I moved on to be a mortgage adviser at my uncle’s firm. That was also my first taste of self-employment. I worked there for 7 years, first as a mortgage adviser and then as a financial adviser. Then I spent 4 years working as an IFA (independent financial adviser) with a national firm, and it was during this time when I worked with Andy that I realised there is much more to financial advice than simply selling products. I wanted to help clients with their financial decisions and use more complex cash flow forecasting tools. We couldn’t do that where we were, so Andy and I decided to launch our own independent business, Co-Navigate, in order to help serve our clients better and design our own processes for delivering financial planning advice. I’ve been in finance for nearly 20 years now, and the time has gone quickly!

What do you enjoy about your job?

I really enjoy seeing clients! There is a lot of paperwork and reports to write, unfortunately, but meeting clients is what makes this job so enjoyable. During lockdown it has been more difficult because you’re just seeing them virtually rather than face-to-face and I really miss that. However, seeing clients embracing technology has been really helpful so we can continue to serve them. I also love having my own business as it allows me to be in charge of shaping my own destiny.

What key advice would you offer to a potential client to Co-Navigate?

Always invest according to a plan and don’t worry about short-term events that will inevitably try and get in the way. Just don’t get distracted from the plan.

Favourite colour

Red.

Favourite music

I’ve got a very broad taste but my favourite musician is Ludovico Einaudi. I’m also a big fan of Amy Macdonald and Kate Rusby.

Hobbies and interests

It’s got to be football. I love playing it, especially my weekly five-a-side. I’m also a season ticket holder at (dare I say it) Sunderland and go there with my daughters. I also enjoy cycling and quite often ride into work and back.

Andy Mathers Co-Navigate Director and Financial Planner

As part of a new series, we are introducing the people behind Co-Navigate. You may have already met the Co-Navigate family on our ‘Meet the Team’ page. But what makes them tick? And how did they move into a career in financial planning?

First of all, we meet Andy Mathers…

Name

Andy Mathers

What is your position at Co-Navigate?

Financial Planner, Co-owner and Director

Why did you choose a career in financial services?

I pretty much fell into the career. I did my degree in economics and worked for two years at a church. During that time, I was buying my first house and when I spoke to someone at the youth group he asked if I wanted to speak to his dad, who was a mortgage adviser. I went to see him and six hours later he offered me a job! I shadowed him for two weeks and as I have a geeky mathematical brain and it’s a people-related job with maths thrown in, I absolutely loved it. That was 22 years ago!

What is your experience?

Initially, I was a general adviser, working with mortgages, investments and pensions. In the past 10 years I have focused on investment and pensions. Pretty much all my clients are medical professionals, that is my speciality now.

What do you enjoy about your job?

The key bit is helping people make the most of their finances and make good decisions. People worry about talking about money and the future. What we hopefully do is give them a sense that they are in control of their finances and make wise, educated decisions, such as, ‘Can I afford to retire a year earlier?’ It gives people the sense of freedom as some people feel guilty about spending money. But when it’s planned and you can afford it, it frees you to enjoy your money guilt-free. It’s not just financial, it’s life planning to help people make good choices.

What key advice would you offer to a potential client to Co-Navigate?

Don’t bury your head in the sand! A problem shared helps deal with it in a very positive way and you don’t feel worried about it. Talk to us about your financial planning. We help people understand what their finances look like and help look forward in a positive way. Our clients have real certainty for the future, which helps people make good decisions rather than fear or worry about it.

Favourite colour

Blue.

Favourite music

I don’t really get chance to listen to music as we have 3 daughters. When we get in the car I don’t get chance to choose as it’s usually Tik Tok at the moment. My life has been ruined by Tik Tok! I do love jazz to relax to.

Hobbies and interests

Faith is really important to me – I’m actively involved in our local church. And I love hockey. When we’re not in lockdown I am playing hockey 6 hours a week. That’s 4 hours of practice and 2 hours of playing.