Last July, we asked our clients to take part in a survey to confirm what they value most about working with the team here at Jane Smith Financial Planning. This year, I’m writing a series of articles, revisiting the results of that survey.
Last month I wrote about the value that came top of the list, empathy. This month I’ll focus on the value that came second, peace of mind.
Defining peace of mind
How do we define peace of mind? Some might say it’s a feeling of calm. Others might say they have a feeling that they do not need to worry.
Peace of mind is something that underpins what we do at Jane Smith Financial Planning. We’re often asked about the difference between financial advice and financial planning, and peace of mind is a good way to demonstrate that difference. There’s nothing wrong with financial advice, it’s just that it’s a different take on managing your finances. It’s a transactional process that responds to immediate needs – where to invest your windfall, how to deal with your tax bill, which type of pension is right for you.
Financial planning, on the other hand, is about structuring your whole financial life to secure the best possible future with what you have available. It’s not peace of mind on one or two questions that have been keeping you awake, it’s complete peace of mind, knowing everything is in place, now and for the future.
Taking the stress away
This dictionary definition resonated with me: “Peace of mind is a mental state of calmness or tranquillity, a freedom from worry and anxiety”. We’re delighted that our clients are happy to confirm that this is the feeling that they get from working with the team at Jane Smith Financial Planning, especially when you consider the timing of the original survey (mid 2020!).