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Richard Wadsworth - Financial Planner

Qualifications:

Fellow of the Personal Finance Society, Fellow of the Chartered Institute for Securities & Investment (FCSI), Chartered Wealth Manager, Chartered Financial Planner, Certified Financial Planner, Affiliate member of the Society of Trust and Estate Practitioners (STEP), Qualified to act as a financial neutral in Scottish collaborative divorce cases.

Specialism:

I have a focus on helping clients plan for and move into retirement, whatever retirement might mean to the individual, and I particularly enjoy working with families, discussing issues such as if, when and how to pass wealth down the generations.

Why my job's important:

“Many of my clients express great relief once I remind them that they don’t have to worry so much about stock markets due to the level of diversification in their portfolios. People tend to forget the importance of the lower risk assets in their portfolio, but because these assets don’t behave in the same way as stock markets, they can continue to enjoy their lifestyle both now and in the future”.

Career history:

Richard has over 20 years’ experience as a financial planner. After graduating and spending a year as a trainee accountant, he worked with Standard Life in Aberdeen and Dundee before moving to Douglas Deakin Young in London to manage client investment portfolios. In 1999 Richard returned to Scotland where he was part of a small team advising the UK partners of Ernst & Young on their personal financial situations. Following the sale of this division of Ernst & Young, he and three colleagues established a successful fee-based financial planning firm in Glasgow in 2004. Richard joined Carbon in 2012.

Top financial planning tip:

“Research has shown that a regret of many retirees is that they spent too much time worrying about how much money they would have in retirement and not enough time considering what they would actually do in retirement. Having an idea as to what you will actually do in retirement and then working out how much money you might need to fund that lifestyle feels to me like a sensible approach and a good starting point from which to begin planning today”.

Favourite book:

‘In a Land of Plenty’ by Tim Pears.

Did you know?

Married with two pre-teen children, Richard still manages to play a range of sports, almost without exception to a very poor standard - he still hobbles around a five-a-side football pitch once or twice a week, and cycles most Sunday mornings with a small group of other “mamils” (middle-aged men in lycra).