In conversation with James Goldby of Goldby Wealth Management
James Goldby is Partner at Goldby Wealth Management in Worcester. James and the team provide holistic, tailored and specific financial planning and advice services to Businesses, Individuals and those who look after the affairs of others. To find out more about James, wealth management and how he could help you, please read our latest interview:
My alarm goes off and…
I hide in the kitchen, make my wife’s lunch, get breakfast and load the dishwasher. I enjoy getting ready for the day ahead and planning out where I am meant to be. We have clients locally and nationally, so a lot of my time is spent planning journeys…as well as Finances
How did you start doing what you’re doing?
Ange, my wife, is a GP and a full-time partner in practice in Bromsgrove so I manage the childcare and started my own business about 7 years ago and realised setting up a business I realised you had to be successful quickly. So, then I went to a financial advice practice and learnt on the job. I am still training now – the learning never stops. I supported a large client base and moved on after a couple of years and set up my own practice. People are the main focus of Goldby Wealth Management – we’ve built a successful Practice on trust.
We have offices in Worcester and I mainly visit clients in their homes or offices – I enjoy the challenges the job presents – no two clients have the same financial management needs. We have a great geographical spread of clients from coast-coast as well as more locally in Worcestershire.
What are your notable highlights to date?
Wealth Management (or good Financial Planning) is different from financial advice because it is concentrating on the long-term plan rather than a short-term transaction. Our highlights include unearthing some good, bad and ugly pensions and a fantastic amount of repeat business and referrals – which are always heart-warming. People make big changes in their lives and come to us to ensure their finances are in order to accommodate it. Our Practice has taken on more clients this year and we are still able to remain true to our client service charter.
The current economic and political landscape have created a much more complex environment for people trying to do the right thing for their future. It can be all too tempting to try to predict what will happen or react to events – our human emotions can prevent clear sight of investment goals. As we’ve seen this last 2 years, political events are unpredictable and it’s not always easy to sort the facts from the fake news. We advise our clients to not to react to these events in the short-term (or do nothing). Rather, they know that uncertainty is where we’re at and so adopt investment strategies to counteract this. My advice in this uncertain climate, is be guided by a good financial adviser who can help to build a healthy wealth management programme right for now and that lasts into the future.
What’s the key to your success?
I feel that one of the key attributes that the team and I focus on is attitude. By that I mean, we’re not entirely led by sales performance, we listen and support everyone.
Our role is about people: the wealth management umbrella can be misleading, it feels like we always talking about people with ‘wealth’ and often we are pointing people in the right direction with debt management and life changing circumstances like Divorce. We want to understand the wider cultural context our clients exist in. We don’t provide short-term support but wholeheartedly give long-term solutions.
We always provide a 4-month portfolio review. We like to speak with our clients 3 times a year as individuals might change attitude, or plan, mitigate against risk or add to the portfolio because of lower risk, more finances or a change of plan. Markets change and we need to let clients know and help them navigate through the changes without them feeling we’re bothering them too much!
What are the top tips?
- Think ahead and don’t ignore your finances. Once you start looking at your finances, it gets a lot easier to manage.
- Start early with someone you trust and nurture great financial partnerships
- Know what have and does it do what you want it to do. Get to know the products that are available to you and what it all means
- Review your wealth management picture regularly
- Read up and gain rounded advice from books, papers and magazines. As a start I recommend ‘The Meaningful Money Handbook’ by Pete Matthew
Who or what has been your biggest influence?
My children, responsibility to look after them and take that seriously… are my main driver.
What worries you?
I don’t really worry. No point worrying, you can’t change things out-side of your control.
What’s the bit you like most?
My clients and navigating some pretty complex challenges to provide the best solution to help give people the future they want
What’s on your bucket list?
We fancy going on the Orient Express, tour of the grand hotels of southern Europe (with a very nice car, 1950s Ferrari maybe)
What’s your biggest bugbear?
The people who think they can take the law into their own hands (topical if we look at recent months in Politics), what they think is right is definitely right because they say so. It’s not their place.
What I wanted to be when I grew up
Retired with a great pension 😊
What can you do 3 of? Party piece?
I can do a 3-stack burger, 3 times, no spills
Where can you mostly be found after work?
Mostly at home, working after the children have gone to bed or Hanbao eating a 3 stack burger on special occasions.
Best piece of advice you’ve received?
2 ears and 1 mouth and use them in that proportion. Listen to what others have to say.
Best piece you’d like to give?
Try and put yourself in other peoples’ shoes – things usually aren’t as they first appear
Goldby Wealth Management LLP is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products.
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