John Bolton is the latest recruit to our Marketing Team, having joined us in February. John was keen to learn what makes the company tick, so we let him loose on our Chairman, Andy Jervis, with a recorder and a notebook. Following Andy’s reflections on the company’s greatest strength, John picked his brain about what he sees as the central message of Chesterton House.
When we've asked our clients what is the greatest benefit that they get from their relationship with us, we regularly hear these three words - "peace of mind".
This long-term peace of mind is achievable by freeing yourself of the worries and anxiety that seems to follow issues around wealth and financial affairs. Over time we have come to define this 'Financial Freedom' in three key areas; financial, emotional and spiritual freedom. Let's go into a little more detail on these three.
Financial freedom is having enough money to do what you want to do. It doesn't necessarily mean you have all the money in the world, but you have the lifestyle you want without worrying about it. You might, for example, have the freedom to go on holiday once a year without stressing over your budget. Or, you might be able pay outright for that F-type Jaguar, that once upon a time was an E-type and the subject of much wishful thinking and envy. Enjoy it!
On the flip side, it may be hard to enjoy that luxury car if you haven't obtained emotional freedom. There are lots of people who have got plenty of money but are not at ease with it. Financially speaking they are more than free to live their lifestyle, but they are held back by their fear and overbearing sense of responsibility for their wealth. They wake up in the night anxious about what is going on with their money, with stock markets, and with the economy so addressing this area is essential to living a fulfilled life.
We can help by saying "This is normal, we've seen this before and you don't need to worry", "You have got perfectly enough money" and "It won't be a problem". We keep telling people this (assuming it's true), until gradually they get it and relax.
Demonstrating someone's financial security by the use of modern cashflow planning and illustration tools and calculators is a great help here. If it isn't true for them yet, then their Financial Plan will be built around reaching that point, with regular and consistent actions designed to fulfill their independence goals.
Not spiritual in a religious sense – it’s more about having the financial and emotional freedom to experiment and doing things that improve your quality of life. It's about going out and trying new things, and afterwards saying "yes, I never would have considered that at one point". We have clients that have been to places they would never have dreamed of and done things they didn't think they would ever do.
A historian named Thucydides, born in 460BC in Ancient Greece, once said that:
The secret of happiness is freedom and the secret of freedom is courage. 1️⃣
By getting your finances sorted, there is a knock-on effect that gives you the courage to do what you want in life. We're all about providing the security, freedom and courage to let our clients do what they want with their money without worrying, a philosophy that has existed for thousands of years.
Many financial planners see their role as simply making sure clients are using their ISA and pension allowances and picking good investments. At Chesterton House it is so much more than that. It’s about the whole psychology of money and your relationship with it. By building a Plan, implementing it over time, reviewing and adjusting it to meet changing circumstances and requirements, a profound sense of control and ease arises that is hard to quantify until you've experienced it. We know this approach works, because our clients have told us so. It can work for anyone who is prepared to go through this proven process.
1️⃣ Thucydides, Rex Warner, and M. I. Finley. 1972. History of the Peloponnesian War. Harmondsworth, Eng: Penguin Books (Book II, 2.43).