A week at Fortitude

19th June 2015

Emily Turner recently spent a week with us and has kindly written this Blog to share her experience:

“I am a first year Economics student at the University of Exeter and during the first week of June 2015 I was lucky enough to undertake work experience at Fortitude Financial Planning Ltd.

I had recently chosen to study a Personal Finance Module at University which taught me how prudent people smooth their consumption of income over their lifetime; risk and return and the importance of diversifying investments; insurance; planning for future taxation and creating an early pension plan for retirement.

The module highlighted to me the importance of financial planning for the future and the need for professional advice. I was keen to learn more about how this works in practice through work experience. I chose Fortitude because I felt gaining a deeper understanding of their five-step process of determining what clients want to achieve would give me an excellent insight into financial planning. I also wished to undertake work experience in a firm which always has the interests of its clients at heart.

During the week, I learnt that financial planning is a long-term process and focuses on future goals. Goals should be specific but as realistic as possible – such as being financially independent by age 60 and to fulfill these goals the client may need to adapt their lifestyle by reducing big expenditures, pushing back the date of goals or by changing their investment decisions.

emily - small - b&w

I also learnt how Fortitude ensures that clients’ investments are diversified and split between growth and defensive investments, according to the risk preferences of individuals.

Through shadowing existing staff, I gained an insight into how Fortitude prepare for a meeting, observed what took place during a meeting and saw what happens after a meeting. This gave me a deeper understanding into Financial Planning as a profession.

Overall the week taught me about the complexity of the role of a financial planner; encompassing the use of a variety of programs, keeping up with new legislation, determining client’s priorities and true values and mentoring clients to make better decisions with their money.”