Beyond the balance sheet: Rob Page on holistic financial responsibility
The article was written by Tom Drysdale and first appeared on the Burton Mail
In an era where financial pressures are a constant, understanding and managing one's money effectively is more crucial than ever.
But for Rob Page (pictured far right), a holistic financial planner and Partner with St. James's Place, financial responsibility extends far beyond simply balancing the books. It's about crafting a comprehensive life plan where every financial decision supports an individual's deepest aspirations.
"My business is Rob Page Wealth Management Limited, and I'm a partner with St. James's Place, which is one of the biggest wealth managers in the UK," Rob explains.
"What is a holistic financial planner? Well, many different clients come to talk to me, and we look at the whole picture."
This "whole picture" approach is central to Rob's philosophy.
Clients might initially approach him with a specific concern, like managing their pensions.
However, Rob immediately delves deeper, asking, "Why do you want to sort that out? What do you want to achieve?”
The life plan: A roadmap to financial wellness
Rob's process involves developing a "life plan" – a detailed template that covers every aspect of a client's existence: career, health, family, and lifestyle. This extends from their current situation to their five-to-ten-year outlook, and crucially, their long-term retirement goals.
"You might want to retire at 55 and be 25 today," he illustrates, "or you might never want to retire but you want to do things you've always wanted to do.
“We take all elements of your financial life and we put them down on paper. We look at where the gaps are, what you want to achieve for you and your family."
This detailed mapping allows Rob to identify discrepancies between current financial realities and desired future states.
He then makes recommendations, aiming to work alongside clients throughout their financial journey. "It sets you off, and then you're working again," he adds, highlighting the ongoing nature of the relationship.
Laying the foundations of responsibility
For Rob, financial responsibility begins with foundational elements that are often overlooked, regardless of age or current wealth.
His first question to any new client is always: "Do you have a will?"
"Even if you're young, we should all have a will because we need to make sure that we know if anything happened to you, where are your assets going to go?
“Are they going to go where you want them to go?" he stresses.
This fundamental step ensures clarity and protection for a client's wishes and their loved ones.
Beyond wills, the holistic approach encompasses every facet of financial well-being.
This includes reviewing any secured or unsecured debt, such as mortgages, and ensuring adequate protection is in place for individuals and their families.
"That might be life insurance, making sure that the mortgage is covered," he elaborates.
The goal is to create a "total picture" that ensures clients have the right plan and the necessary protection. It's about asking, "Can we get to where you want to be?" For this process to be effective, Rob emphasises the need for complete openness.
"It's a very open conversation for it to work. We always say full disclosure.
“I guess I'm what you class as your financial doctor, and you talk to me in a very confidential way, but a way that you feel confident that we're going to get to the nub of what you want to achieve."
Ultimately, Rob Page's approach to financial responsibility is less about numbers in isolation and more about understanding an individual's complete life story to build a robust and protected future.