What's In This Month's Newsletter
With a General Election officially announced, July 4th will be more than just a celebration of American independence; it’s a date that will shape the future of the UK. For many, events like this prompt not only national reflection but also personal introspection.
In this month’s newsletter, Steve Rowe delves into the core beliefs that guide Lucent Financial Planning and how these principles are brought to life through the work they do for clients. From the importance of prioritising health, wealth, and relationships to sharing exciting updates on recent achievements and new additions to the team, this issue is packed with inspiration.
You’ll also discover highlights from Lucent’s recent global collaborations with financial and psychological experts, all aimed at advancing the way we think about money and happiness. Whether it’s helping you embrace the joy of spending wisely, making meaningful gifts to loved ones, or building deeper connections with those around you, Lucent is redefining financial advice to focus on what truly matters in life.
And, of course, there’s a sprinkle of Steve’s signature humour, tales of pub quiz victories, and the launch of a highly anticipated podcast.
Read on to see how Lucent is championing a unique approach to financial planning—one that celebrates living fully, connecting meaningfully, and making your money work for you in all the right ways.
Re-Election Day
A General Election has been announced. We all knew it was coming, but we weren’t sure exactly when in the next 7 months it would be. But July the 4th it is. American Independence Day! I haven’t seen too many analogies of this date and the current government (I’ve been on holiday for the past week, so have done less reading than normal), but I assume there have been many. This is especially poignant since we had a number of American Professors in finance and financial psychology come visit us in the last couple of weeks and because ‘independence’ mainly relates to being Independent Financial Advisers, right?
When there is a potentially massive change in how the country is run, or a continuation and affirmation of what has been, it draws us to review our own lives. I believe General Elections often lead to General Introspections of how one wants to live. I won’t go too much into the politics of the country, but I will talk about what I believe in and how our business is run and you can draw your own conclusions.
If I am doing well, I want others to do well, too. Jurgen Klopp
Helping Others
Our business is about helping people. Contrary to popular opinion, we aren’t just about making and saving people money. That is of course one objective. But the overriding objective is to ensure that you use your money to have the best life possible. That’s why we are Lifestyle Financial Planners of the Year 2023.
The plan for Lucent Financial Planning is to help as many people as possible live great lives. I also want that for the people that work for Lucent Financial Planning. We aim (and do) pay higher than average salaries in the profession to our Lucent lovelies. This means we can get the best people and have fewer leave. In the near future, we are aiming to make the company ‘Employee Owned’ so that the company will be evergreen, never sold to a financial consolidator and be around long after I have popped my clogs! We are training our people to be great financial planners and ensure that our great advice means that both you and we have a great life. It is possible for everyone to do well, and that’s what we want to achieve.
In the end, if you’re a client of ours, you will probably die worth loads of money. Hurrah! You’ve been accumulating money all your life and then forgot to spend it. Oh dear. Now that’s ok, if you’ve done everything you wanted to. After all, money shouldn’t be a burden on you to spend it on things that make you unhappy.
Money should be used to make you happy! By using it to do more of the things you love, helping people that you love and spending it paying people to do jobs for you that you hate! This is what will lead to greater levels of happiness for you.
Money that is left when you die, might make other people happier! But, they would probably prefer you to have spent it than to receive it. And if they didn’t, then they don’t deserve that money do they?
So, what should you do? All your personal needs are taken care of and yet you are likely to have a surfeit of money. The chart below (which I created using AI!) shows how money is an important part of happiness, but also can drive a wedge between two other important parts – Health and Relationships. I am sure you have or know someone (perhaps a partner or family member) who has let go of their health or relationships in the pursuit of money.
The pressure to earn, to spend and keep up with the Joneses, to maintain a ‘level of wealth’ that may not be required can all lead to strain on your health and relationships. Who has skipped a session at the gym to finish off some work? You’ve skipped more than one session, Steve, I hear you say! Who has let some old friends drift away and lost contact with them? I know I have and I regret it and I want to resurrect those friendships. Because when you are retired and the so-called ‘glamour’ of your work has disappeared, it is those people that will make your life fulfilling. It is your health that will enable you to continue to see them and enjoy their company.
This is why at Lucent Financial Planning we are constantly striving to get people to understand that this is the real issue! You most likely have the money side covered, as that is what you have been concentrating on; we can show you if you have and if not what you have to do to get there. Then, we want to help you with Health and Relationships. To help you understand that spending money to see friends is the best use of your money. Gifting money to help friends and family is much better to do whilst you are ALIVE than when you are dead. Spending money to take care of yourself is vitally important as if you don’t do that, everything else will fade into significance.
- This is why we have our psychologist partner, Jess, to help you with your mental health.
- This is why we encourage Private Medical cover and prod you to come on our monthly walks in the countryside.
- This is why we push you to spend your money whilst you are able, and why we encourage gifting to help family members earlier in life, and charitable giving.
All of those things we do, some of which are practically unique in financial advisers around the WORLD, have led to a number of Professors from America coming to see us for a presentation on how and why we do these things.
These included:
Dr Sonya Lutter, the co-founder of the Financial Therapy Association and working at Texas Tech University in Financial Planning and Psychology. Here’s a picture of me with a bad back and Sonya:
Michael Finke, Investments/retirement professor and Frank M. Engle, Chair of Economic Security at The American College, Researcher and speaker on the science of living well in retirement, whose work into Health, Money and Relationships helped me devise the above AI generated image!
Chet Bennetts, Assistant Professor, Financial Planning at the American College, who is a man after my own heart and rather whimsical, despite looking like a bad-ass. Here he is at Warwick Castle contemplating thrashing a serf.
Sandra Huston, Professor and Assistant Vice Provost at Texas Tech University whom I learned from how people with money spend it pushing people away and becoming more miserable. For example, you spend more for a first-class ticket, or a private jet, all so you can avoid other people. Yet research shows that being with people is what brings most happiness. No wonder billionaires are so miserable!
Plus a number of others who are doing PHDs or who run forward-thinking financial advice firms in America. Here we all are, on our way to Warwick Castle following our morning presentation.
We took them to Warwick Castle following our presentation, to show them around our country a bit. I spent 4 months in America when I was 21 and wanted to extend the hospitality I received there. These are relationships I want to continue. Also, being excited by all things financial, they were interested in my second presentation at Warwick Castle about the suitability of ‘Stocks’ in a portfolio. Here is me explaining it:
As an aside, and illustrating our global reach, here I am, transported across the world to Australia, where I was helping a financial advisory firm implement some of our ideas there, at Alphington Private Wealth, Melbourne, Australia.
Solihull BID (Business Improvement District) Quiz Winners!
As previously discussed, we want everyone to do well. Life is not a zero-sum game where one person has to lose for another to do well. We all do better when everyone does better.
Except, when it comes to pub quizzes. Then, we DESTROY!
We won for the second time running, although this time it was the Lucent ‘B’ Team that won and not the self-named and acclaimed ‘A’ Team. The envelope Amardeep holds definitely says ‘Winner’, nothing else.
New People at Lucent!
We welcomed two new people to Lucent in May bringing our total team to 15.
Jai Parmar has had his eye on us for some time and comes to bolster our paraplanners. A paraplanner writes the detailed reports we send to you when we give you advice.
Jasmine Clarke has also joined and she has financial planning in the genes! I didn’t know this, until I attended a financial planning conference and her Dad tracked me down to introduce himself. He too is a financial planner on the south coast and has obviously ignited the passion for helping people financially in his daughter. Here he is, with Kate and me.
Our New Podcast - Coming Soon
Our upcoming podcast, ‘Juggling Mind and Money’, will be focussing on how your mind affects your money and how your money affects your mind -
Watch this space for launch details, so you can listen as soon as it is released! In the meantime...
OUR PODCAST NEEDS YOU! If you fit the bill below, and would like to spend some time having a chat and a giggle with Jess and me, please email us on info@lucentfinancialplanning.co.uk
People that have seen Jess…
We would love to hear from you and for you to tell your story on the show. Not what led you to speak to Jess - that is personal to you - but how she went about helping you, your experience during and after, and the positive effects this has had.
If you’re a happy soul and super chipper…
We still want to hear from you! Telling stories of happiness spreads it, I think, so we would also like to hear from you if you have a great story to tell. This might be about overcoming your fears and being successful, or how you retain a positive outlook.
What's Next?
We hope you have enjoyed this month’s newsletter, and we would welcome the chance to become your adviser, your counsel. You may want to be able to come to the great events we do like one of our walks, or famous people events. We can help you make the change in your life:
- Transition to retirement
- Transition from married to single or vice-versa
- Change in working practices
- Switch to an understanding and empathetic adviser
Disclaimer: This article does not constitute financial advice. We recommend that you speak to a qualified financial planner for advice tailored to your individual circumstances and goals. Financial markets may go up or down, and you are not guaranteed a return on your investment. Past performance is not necessarily a guide to future performance.
