An Innovative Idea
As holistic wealth planners Gohil & Gunby operate using a flat fee model upon which, Sanjay Gohil originated in 2004 and refined in his 2007 MBA thesis Remuneration and Customer Value.
Our aim was and is to grow Gohil & Gunby's business via references from satisfied clients and not from commissions. Because our clients pay a flat fee, our income is not dependent on the sale of proprietary products - the majority of initial commissions received are rebated back to the client, in turn adding further value to our clients' wealth.
At Gohil & Gunby we operate as Financial Advisers, using the services of Specialist Consultants to provide a Holistic Financial model which we will use to help clients to choose the most suitable products or investments for their needs.
How Does It Work?
In order to help you achieve your financial independence Gohil & Gunby have developed and refined a seven point system which we follow with every client. It begins with your first visit to a Finacial Adviser.
- Step 1: Introductory Meeting
Our approach and ethics, and yours.
As a prospective client you'll receive 'bedtime reading' even before the first meeting. It's aimed at giving you a sense of our ethos to see if it matches your own. Being a Gohil & Gunby client is not a passive activity, it is a close, working relationship, which goes well beyond transactions, and frankly, we are not right for everyone.
At the heart of our relationship is our flat fee model and the explanation of this approach is a key part of the introductory meeting. You will also be introduced to our consultant structure. There is no charge for this meeting, and no obligation.
- Step 2: Understanding your objectives
Your mission plans
Here, you talk, we listen. You may already have a clear set of objectives or maybe just a dream, a goal or even some fears about the future. Or perhaps, like many, you don't. A big part of our process is to encourage – sometimes push – our clients into saying what they want. Is it more cash flow, retirement by a certain date, security for your family in the event of death or passive income so you can have time to enjoy what you have earned? The more we know, the more we can help.
- Step 3: Collect and analyse
...your income, assets, spending, needs
You might be surprised at how much detailed information we ask for – about how you live, what you spend, what you own, where you bank, what you owe, and why. We'll ask you to authorise your current accountants, lawyers, brokers to share information with us because access to the minutiae of your financial situation is key to our being able to help plan your future. By the way, we have absolutely no intention of usurping your current team, and there will be no pressure for you to switch to ours.
- Step 4: Create a model
what you'll need for the rest of your lives
Once we know the lifestyle you want, we'll help you define and cost it and create a model of your future, which we'll display onscreen for you to consider. Our program allows us to adapt or evolve it as our discussions progress. Sometimes, in order to achieve the future you want, change will be necessary. We will help you manage it.
- Step 5: Create a plan
This is the motor which will drive your financial future, an investment plan and asset allocation that is unique to you, based on your specific growth requirements, liquidity and timescales. As part of the preceding steps we will have analysed and discussed your capacity and tolerance for risk, and we will naturally take this into account when creating your own personal plan. There are few ironclad guarantees in this life, but we are achieving results for our clients, and for our firm. As a result of personal recommendations we have added further private fee clients in the past year and we expect the trend to continue.
- Step 6: Plan to save tax
There's not much point in planning to create wealth if the Chancellor of the day takes an unreasonable slice, either during your life or from your Estate. Considering how to deal with your current and future tax situation is an important part of the plan.
- Step 7: Review annually
We called the plan the Motor, but we could equally describe it as a Journey, one we take together, and this means meeting regularly to see where we are, check if circumstances and needs have changed and to re-assess and adapt your plan if necessary. Review meetings are at least once a year – more often if necessary.