In a recent CityWire New Model Adviser feature, Colmore Partners managing director Richard Meek reflects on the value of experiences over simply accumulating more assets, and asks whether planners should challenge the conventional measures of financial success.

It follows a cycling trip taken in June with his daughter, ahead of her 21st birthday, around the Hebridean Way. Having spent six days taking in spectacular scenery and making unforgettable memories, Richard returned with fresh perspectives on asset accumulation.

The experience itself could easily not have happened, after he found himself listing reasons to say no: work pressures, fitness worries, doubts over whether it would be ‘worth it.’ Ultimately, it was a client's simple advice that changed his mind, saying: “In 20 years’ time you’ll value the experience more than anything you could buy or invest in now.”

Many of Richard’s clients have the means to spend more than their basic needs, yet there is an instinct to lean into accumulation — more assets, more security. While prudent financial planning remains essential, Richard questions whether planners should challenge these conventional measures of success.

He recognises that not everyone will choose to travel. For some, fulfilment comes from supporting family or funding meaningful causes. The deeper question, he believes, is whether more should be done to encourage people to use wealth to enrich life today versus deferring gratification for a future that may never arrive.

You can read the full article here.