When certain catalysts occur in life, they can really change your direction.
Meet Sam Collins of Cranwell Wealth Solutions. He talks about family life and offers some financial tips for all.
Cranwell Wealth Solutions, a local wealth advising practice based on the high street in Heathfield, is delighted to announce a new appointment to the team. Sam Collins recently joined the business as a Financial Planner. Here we get to know Sam and ask him for a little advice for our readers to consider.
Welcome to the Cranwell team at Heathfield Sam, what brought you here?
I’m excited to join the team. I’ve been working in financial services for over 10 years across a variety of roles, but before joining Cranwell I worked for a financial planning practice in London. While I enjoyed many years in the hustle and bustle, I was often drawn back to East Sussex having always lived in the area. Like many others during the pandemic, I began revaluating life. With everything that had happened in the world over recent years and the arrival of my first child Ivy earlier this year, I began thinking about my work/life balance and being able to spend more time in the county that I love. When the opportunity arose to join the Cranwell team working predominantly in the Heathfield office, I jumped at the chance. Becoming a dad has been the best thing to ever happen to me and I value every extra minute I am now able to spend with Ivy and my fiancé while still being able to advance in a career I love with a much respected local firm.
What do you love about your role as a financial planner?
For me it’s about how our clients feel as a result of knowing they are on track to achieve what’s important to them and are confident in the plan they have in place. This is where I get the most satisfaction, seeing people feel empowered. And being able to do this role within a company like Cranwell is the icing on the cake. Not only do I value the team I work with daily, but I also really buy into the ethos of the company – a fairly unique set up where we believe in bringing financial advice right into the heart of the high street by setting up our branches and investing in the local community retail space which otherwise may possibly stand empty.
What challenges currently face the financial industry?
With the ‘cost of living crisis’ a lot of people are finding things really hard. This paired with the current market volatility is understandably a concerning time for investors. That being said, this is the time that great financial advisers step up and help mitigate the concerns and make sure the focus remains on the long-term plans. The current economic environment, albeit tough, will pass. Traditionally we’ve seen this before (for some it also represents an opportunity for new investment) and it’s important to stay on track and make the right decisions for those future goals.
What’s the one piece of advice you find yourself offering to people?
To younger individuals, I cannot stress the benefits of looking at financial planning early. The earlier you start, the easier (and at far less a cost) it will be to achieve those future goals, whether it currently seems like a priority or not.
What would you say to anyone concerned about their investments or pensions?
I would urge people not to leap to immediate action. Instead, I’d encourage people to re-focus on the purpose & time horizon of the investment in question. For example, if you’re 10+ years from retirement, the value of your pension as you approach retirement is what matters, rather than the value now. Also, if you are making regular contributions into an investment or pension, you want volatility and dips in the market as it means you benefit greater when the market recovers & kicks on (which history suggests it will). Feeling uneasy when performance dips is perfectly normal & I’d encourage anyone feeling this way to speak with their adviser.
If someone is concerned that they’ve left investing into a pension, savings, ISA’s a little too late, what would you say to them?
The very best time to start (if not done so already) is today. Ultimately, we can’t change the past, but we absolutely can change what we do moving forward. A main part of our work is assessing where you are at in relation to your goals then helping to create and implement a bespoke plan to help you achieve your future objectives. It really is never too late to take control & strengthen your financial future.
How about if someone is considering planning their exit from a business, any advice for them to consider?
I think the first step is to speak with a professional adviser. Closing a business can be a complex process with various options & consequences to consider. Minimising tax is often a key objective when looking to close a business and there are several completely legitimate planning solutions, we can discuss that can help extract funds from the business in an tax-efficient manner.
Sam Collins can be reached at Cranwell Wealth Solutions via the following contact details:
Landline – 01435 866101
Mobile – 07464 724 033
Cranwell Wealth Solutions, 56 High Street, Heathfield, TN21 8JQ.