The following basic information is needed:
- Personal and family details including full name, address and telephone number.
- Date and place of birth – dates of birth for all those included in the fact find. (The client’s place of birth may be important for underwriting).
- Marital status – if the client is in a relationship, both partners should be involved in the financial planning process, since the decisions made will often affect both partners. Some clients, however, prefer to keep their financial affairs separate from their partner.
- Family details – the client’s family details are important for a number of reasons – there may be family members who are, or will be, financially dependent on the client;
- The client may become the beneficiary of gifts or trusts
- The client may wish to become a donor, now or in the future
- There may be an opportunity for referrals to family members in terms of marketing opportunities.
The most important group of family members is usually the dependants. In order to give appropriate advice about protection against death and disability, as well as about savings for education fees, it is necessary to know their ages (this may include children from previous relationships where appropriate).