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Working with Rising Tide over the past five months, I have had the opportunity to meet many fantastic long-term clients and feel privileged that I can help guide them through their highs and lows on a day-to-day basis. My background seems to fill a niche where the Rising Tide team does not currently have a vast amount of experience, which means I can provide a different perspective during client conversations.
An excellent recent example of this is when Sam Jewell and I caught up with a young couple a few weeks ago. Thinking it would be a standard review, none of us expected the process to end with them having a cheque for $87,000 in their hand a few weeks later.
Throughout the meeting, we discussed what had changed in their world and what they would like to focus on financially in the next few years. Alongside their goals, we also provided some product and legislative changes that we thought might be relevant to their situation. One of the changes in their world was increased debt which triggered a conversation about their ‘plan B’. We reviewed things and agreed to look at opportunities to improve their life insurance.
While researching alternate insurers, I read through the client’s medical records and thought I had better double-check against the existing contract. The client had severe skin cancer removed in the years prior, and, after looking at the contract, I thought it was likely that they met the definition for a claim. After consulting with the other advisers and confirming a claim had not been lodged, I rang the insurer (MLC), spoke with an assessor, and confirmed a likely claim. After some back and forth with the client, doctors and the insurer, the claim was successful, and our clients were ecstatic – with $87,000 immediately impacting their position as they look to build their new home.
One thing I learnt throughout the process is that a fresh set of eyes and ears can provide massive value for clients. While I was able to make a huge difference to these clients in such a short period, it also goes to show how important it is to get the foundations (like life insurance) correctly setup before the fact.
A note from Matt Hale, head of our Financial Planning team:
The whole Rising Tide team are stoked to have Katherine on board. Her deep technical background is valuable to clients as well as developing our advice and delivery teams. At present, Katherine is working closely with many of Sam Jewell’s clients as Sam transitions into a leadership role, but she also has the capacity to take on new clients throughout 2022! If you want to lock in a time to chat with Katherine, please drop us a line.