FINANCE
WORDS : PAUL FRASER PICTURES : TOM BANKS
New World Financial Group wants to help everyone when it comes to financial planning
A
forward-thinking and innovative company based in Stockton is changing the face of its industry by making ground-breaking moves to make financial planning and education available to everybody .
New World officially launched in January with the introduction of two direct to consumer business channels , Clarity and Future .
Each business channel serves the needs of a different demographic and begins to meet New World ’ s objective of making financial planning inclusive and accessible .
Clarity helps those in or preparing for retirement to take control of their finances and live the life they want , free from worry .
Future takes the ambitious steps of introducing financial planning to people much earlier in their life , through education and a streamlined process that focuses heavily on new technologies .
Created by directors Sam Tate and Lisa Tipton , New World also offers support to like-minded financial planners and financial planning firms that share the ethos of the firm and ambitions for the growing profession .
Sam , who oversees strategy and growth within the business , said : “ Setting up New World is a really exciting step for us , and we are determined to take what we know to raise the bar .
“ We think that our experience , combined with a thirst for innovation and fresh approach will change the face of this industry for the better . Our aim is to provide a solution to everybody that is looking for ways to make better financial decisions .”
Figures released over the last couple of years have suggested only eight per cent of people in the UK receive any form of financial advice .
New World ’ s approach is to bridge this huge gap by concentrating on reducing the barriers to entry that have long existed .
With plans in place for further innovations , the intention is to reach out to clients in a modern and fresh way that Sam says is unique and long overdue and combines converging technologies with professional expertise .
Sam said : “ In our experience , younger people are often ignored by traditional financial advice . Financial services has always been an exclusive industry for people with money ready to invest , but this ignores a huge issue … what to do to get to that position .
“ We believe that with the tools and skills available in 2021 there is no reason for our industry to operate in a way that alienates a vast proportion of the population . We are attempting to make it an inclusive industry that incorporates everyone in every walk of life . Aspects of our offering are ground-breaking .”
Teessider Sam , 39 , and Sheffield-born Lisa Tipton , 44 , the director of financial planning who moved to the area in 2013 , launched New World together . Lisa provides the detail ” whilst Sam focuses on the “ bigger picture ”.
Lisa , a fellow of the Personal Finance Society , has worked in financial services for more than 20 years . She specialises in overseeing the financial planning and ensuring all clients receive the best possible outcome , while Sam has vast industry experience which includes overseeing operations and strategy .
Together , assisted impressively by client-facing Michael Duffield and Simon Warne and a growing team of analysts , Sam and Lisa aim to continue to grow the business with a focus on building out the Future brand and introducing new firms and planners to the group within the next 12 months .
Sam said : “ The narrative is vital . Although positive steps are being taken , there is still a lot of work to do in explaining the true benefits of financial planning , which are still widely underappreciated . One issue is a failure of the industry to communicate the changes that are being made .
“ Financial planning offers so much more than simply investing your money and advising on which pension might be best . It starts with working with a client to understand their goals and objectives .
Team talk - New World Financial Group ’ s ( from left ) Simon Warne , Sam Tate , Heather Camsell- Graham , Lisa Tipton and Michael Duffield .
“ Only once we understand that will we discuss money . We will then work with them to align their vision with reality and put a plan in place that helps them move forward .
“ Each client will see their financial future live on screen with interactive forecasts that show the impact of different decisions . The peace of mind and feelings of control are where the true value of financial planning lies .
“ At New World , we will be the first to really offer full financial planning at all stages of an individual ’ s lifetime . Our planned educational programme and financial planning services will help to reduce the confusion and anxiety that exists , bridge the knowledge gap and put people in a stronger position to make the right decisions today to help them in the future .
“ We believe these new methods of working and the new value proposition opens up our work to everybody , and that ’ s where we intend to start “
Traditionally a financial advice firm would tend to charge based upon the amount of money being invested , but New World adopts a different approach , placing the planning at the forefront .
Sam added : “ We charge for the work involved in building a financial plan and the value that we deliver comes from providing reassurance , clarity and peace of mind .
“ Moving the focus away from investments at the initial stage means that anybody can approach us for a financial health check and allows us to scale our services to people at any stage of their life .
“ Investments , pensions and tax planning all form part of a thorough financial plan ; however everybody ' s situation is different , and people should not be shut out from receiving the advice they require just because they haven ' t got a required level of wealth . For the first time we can make financial planning fully inclusive .”
For further information on New World Financial Group ’ s services and approach visit newworldfg . com .
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