SeventySeven Wealth Management Financial Planner Eloise Hammond is on a mission to simplify personal finances and empower people to take control of their money. Here she talks about her journey into the industry and why financial planning is so intrinsic to a happy, healthier future.
For as long as I can remember I’ve loved numbers. I remember sitting on a bus with my mother as a very young child and instantly working out the percentage of people sitting versus standing.
As I have grown, so has that interest and, after studying for a business degree at the University of Greenwich, I joined the graduate scheme at MetLife UK, where I worked alongside many financial advisers. After almost 10 years at the company, I made the decision to become a financial planner myself and am now among a very small percentage of female advisers in the UK who are Chartered.
Financial planning is about so much more than just numbers. My work is all about understanding people’s goals and priorities.
We spend our lives working, saving, hoping for a perfect retirement but very few people take the time to plan for that time in their lives – in fact, I know a lot of people who spend more time planning their holidays than they do their retirement.
A lot of people I meet are time poor, have a lack of knowledge in the ever-complex world of finance or simply have no financial plan for their future. I love being able to take the strain away from my clients, by providing them with trusted advice and creating them a financial plan aiming to meet their financial goals.
That ability to make a difference in someone’s life is what really inspires me.
My advice covers all areas of wealth management including retirement planning, investment planning, inheritance tax planning and wealth protection. However, I specialise in retirement planning and capital tax management and, as one of a small number of female chartered advisers in the UK (and European Women in Sales Awards winner), I am ideally placed to advise successful businesswomen, divorcees and widows.
I am known for delivering bespoke advice that incorporates both personal and business goals of my clients, helping them to make their money work for them and fuel the things they want to do. Taking the time to understand what people want and why they want it, enables me to help my clients get their big financial decisions right.
The perception that you only need advice if you have a new lump sum to invest.
Financial planning is relevant to everyone and at almost every point in your life but people often shy away from it because they don’t understand it or don’t think it’s relevant to them. I help simplify the complexities surrounding personal finances and empower people to take control of their money for a better, more secure financial future.
In his book, The Behavioural Investor, psychologist and behavioural finance expert Dr Daniel Crosby talks about the value of financial advice and that cost is only an issue in the absence of value. You could ‘Do it Yourself’ (DIY) but think about what value you could get from an expert who can ‘Do it For You’ (DFY) and help provide you with financial peace of mind.
Remember, financial planning is very different to product sales. A good financial planner should listen to what your goals are and help you make the right decisions towards achieving those goals, not just sell you a product.
Fully understand the impact of not achieving this, so you know why you are saving and the importance of it.
Formulate a plan and use cashflow planning to project this forward. I offer a cashflow forecast for my clients.
Circumstances will always change, whether that’s personally or legislatively. So be ready to adapt your plan.
If you would like help planning for a more secure financial future, please contact Eloise Hammond on: 01892 770 077 or via email at: Eloise.Hammond@sjpp.co.uk