As a Financial Planner, Certified Financial Coach and Founder of Wensons Financial and Wensons Legacy, Hiren Panchal provides trusted advice and guidance to help clients live the lives they visualise.
Known for his positivity, compassion, sense of humour, and building authentic and meaningful relationships; for Hiren, family comes first – his world is powered by a loving wife, three demanding toddlers & as of a week ago, a new-born!
We admire his passion for making a positive impact in the world and being an advocate of financial literacy and wellbeing for all.
What’s your happiest memory?
It’s difficult to pinpoint just one as I have been fortunate to celebrate many happy memories – both personally and professionally. However, the highlights have to be the births of all my children – being there changed me forever, in fact from a husband to a father.
What one thing do you wish you’d been told about finance when you were 15?
Guard your credit score like a Ninja! I did not even know one existed back then, which led to me making mistakes and doing all the wrong things, such as ending up with a huge student loan and bank overdraft debt!
What made you want to become an adviser?
To help me better understand and improve my own and my family’s circumstances. Being in a difficult financial situation encouraged me to learn more about finance – you know, simple things such as interest rates and of course credit scores. Things we aren’t taught in school, which we should be, right? I got to know the financial system and how personal finances work – and more importantly, how to play by the rules to have a WIN!
What prompted you to join the Initiative for Financial Wellbeing?
Becoming a financial planner helped me change my life and my family’s life for the better – through my personal story, I understand the anxiety, worry and challenges finances can cause for a family. I experienced the difference financial wellbeing brings to your life – a small step such as having an emergency fund is huge! I do try to take a holistic approach to life and wellbeing and felt the IFW was a cause I can wholeheartedly support and get involved with, thus volunteering as one of the regional leads for the London area.
Why were you drawn to financial wellbeing to underpin your business practices?
As I said before, I understand the impact financials have on people’s wellbeing and want to ensure that I can go above and beyond financial advice for my clients – to do this, I feel it is important to champion financial wellbeing, to include financial literacy – empowering others to take ownership of their goals and enable them to build financial resilience. It also aligns with Wensons’ own legacy, which supports the UN Global Goals.
What’s the biggest thing you’ve learnt about financial wellbeing since joining?
Looking after your Financial Wellbeing ensures no matter what life brings, you have the confidence and financial security to adapt and cope. It’s about being in control of your day-to-day finances and having the financial freedom to make choices that allow you to enjoy life. True Financial Wellbeing is a balance between physical, emotional, mental and spiritual aspects of money.
How has the way you work with clients changed since you joined?
My relationship with both existing and new clients has transformed – although I had the right mindset, the learning from the network gave me further knowledge and skills, and now the confidence to be able to support my clients. Their wellbeing is truly at the heart of what we do, they trust us to look after them and be an active partner in their journey – and I am grateful that my team share our values and mission. Furthermore, having now also qualified as a Certified Financial Coach, I set up Wensons Legacy to help bridge the advice gap and make money conversations more accessible for all.
Who or what is your favourite wellbeing guru, podcast or book?
Currently I don’t have much time to read books, that is except for the bedtime stories for my kids, however I would definitely recommend Nick Elston for the insights he has provided over the last year. I also subscribe to Action for Happiness, and their monthly action calendars are a great way to enhance your wellbeing.
What are you doing to achieve your own financial wellbeing goals?
Being part of IFW, the regular gatherings and hosting the London regional meetings help me keep financial wellbeing at the forefront. Being part of the community and having accountability partners make all the difference for me. I feel the same about my team and our clients too. Staying positive and celebrating all successes, small and big, helps create memories, these in turn boosts your mood and attracts more positivity all round – now that is a Fri-YAY win any day of the week! 😊
Hiren is regional lead for our London members, along with Charlie Goodman. The London Regional Meeting is at 11am on Friday 15th October.
