Who We Can Help
Over the years we have helped people with a wide range of circumstances. Here are some examples of how we have helped people in the past. These are based on our actual clients, but we have changed some details to protect their anonymity.
Wealth Accumulator & Protection
Client Profile
Our client of many years is a Head Teacher, age 41, single with no dependants.
Challenges
He wished to make gifts to his three nephews of £5,000 each on their 18th birthdays and be able to change his car every 4 years, at a cost of approximately £15,000.
Protecting his income and lifestyle in the event of becoming ill was important to him.
What We Did
We established the earliest age he could consider retiring was potentially 5 years before his normal scheme retirement age.
We researched and recommended protection plans designed to ensure that his finances would still be on track in the event of a catastrophe.
We completed a risk analysis questionnaire to find out the level of investment risk he was comfortable with and ascertained his tolerance to loss.
We recommended and arranged regular tax efficient savings using ISA’s and pension plans, some of which could be easily accessed to give each of his nephews £5,000 and to change his car.
We helped him complete an HMRC tax reclaim application.
Results
With a clear budget showing his income and expenditure, this illustrated how he could have potential future financial independence earlier than he ever thought possible.
Our client was able to earmark the money he would need for his nephews and car changes. We were able to help our client claim back over £1,000 of over-paid tax.
The tax efficient investment portfolio which met his attitude to investment risk, has produced inflation beating returns and after more than 15 years of planning for retirement, he is within a few months of realising his goal, retiring comfortably at age 55, earlier than he ever envisaged.
At retirement, estate and long term care planning
Client Profile
Our client is a director of a building firm aged 58 and married with two children who are no longer living at home and are financially independent. He is married and his wife is a retired civil servant.
They own their home outright valued at approximately £350,000, they have cash and investments of approximately £120,000. Our client has accumulated various pension pots from several employers over the years valued at approximately £450,000.
Challenges
Initial funds are required to replace his company car and finish a garden room.
What We Did
We completed a risk analysis questionnaire to find out the level of investment risk he was comfortable with and ascertained his tolerance to loss.
We researched and discussed all his retirement options before giving recommendations and arranging a flexible drawdown contract along with advice and helping secure the appropriate income from a guaranteed annuity contract.
We recommended he contact a specialist legal adviser to update his will and help with estate and long term care planning.
We recommended he contact an accountant to help reclaim over-paid tax from personal pension contributions for the previous 5 years amounting to approximately £1,700.
Results
We recommended and arranged a mix of guaranteed pension and flexible drawdown pension contracts within his attitude to risk producing a tax free lump sum withdrawal for his immediate needs and a regular monthly income to sustain his family’s lifestyle in retirement.
We helped secure a tax rebate and helped the clients restructure their assets giving them a better chance to be able to leave their property and investments to their children in the event that they require long term care.
At retirement
Client Profile
Our client is a Senior Surveyor aged 54 and married with no children. His income is approximately £35,000. He is married and his wife is a retired teacher.
They own their home outright valued at approximately £300,000, they have cash of £95,000 and investments of £24,000. Our client can access his financial salary pension of £9,000 plus a tax-free lump sum of £18,000.
They owe £15,000 on credit cards and a bank overdraft.
Challenges
Forced with early retirement, our client is unsure if his current cash, investments and pensions will produce enough income to maintain his family’s lifestyle in retirement.
What We Did
We created a lifetime cash flow plan to establish how much income they required to be able to maintain their desired lifestyle in retirement.
We completed a risk analysis questionnaire to find out the level of investment risk he was comfortable with and ascertained his tolerance to loss.
We created a financial plan outlining the benefits of clearing expensive debt along with investment recommendations.
We recommended a tax efficient investment portfolio within his attitude to risk producing regular monthly income.
Results
This allowed them to consider an investment strategy that should allow him to retire straight away and no need to find a job to supplement income.
Receiving income from the tax efficient investments which have produced inflation beating returns and clearing expensive debt means that they are able to enjoy their retirement, with a comfortable lifestyle.
Legacy Wealth
Client Profile
Our long standing client age 62, has retired early from teaching. A widower, living in his own home which he owns outright, he has a modest pension income. Tragically, his wife died prematurely.
Challenges
What to do with the various life cover, pension and investment proceeds from his late wife’s estate.
What We Did
We created a lifetime cash flow plan to establish how much income he required to support his desired lifestyle.
We completed a risk analysis questionnaire to find out the level of investment risk he was comfortable with and ascertained his tolerance to loss.
We created a financial plan outlining tax efficient pension and investment recommendations.
We suggested he seek legal advice with a specialist solicitor to help settle his late wife’s estate and to draft a new will incorporating an appropriate charitable legacy for his late wife.
Results
By completing the cash flow plan, the client can see they can enjoy financial independence.
Our client now has tax efficient investments which have produced inflation beating returns within his attitude to investment risk which produce a regular monthly income sufficient to sustain his desired lifestyle.
Protection and Legacy Wealth
Client Profile
Our existing client was a successful business owner, personally referred to us via a professional firm.
We were unable to obtain personal protection due to a pre-existing health condition. As his business was growing we were able to set up a group life cover plan through his company without the need for medical underwriting. Tragically, he died suddenly a short time later, leaving his wife and young family.
Challenges
What to do with the various life cover and pension proceeds from her late husbands’s estate.
What We Did
We created a financial plan incorporating lifetime cash flow analysis, to establish how much income she required to be able to support her desired lifestyle to help support her growing family.
We suggested she clear her outstanding mortgage debt to reduce expenditure and simplify her finances by removing a substantial monthly mortgage payment.
We completed a risk analysis questionnaire to find out the level of investment risk she was comfortable with.
We recommended and arranged tax efficient pension and investments within her attitude to risk to produce income when needed.
We suggested she seek legal advice with a specialist solicitor to help settle her late husbands’s estate and restructure his business, to allow it to continue trading.
Results
We helped ensure she had access to adequate funds to help with childcare costs and replace the family car in the short term.
By clearing the mortgage debt, this has reduced her monthly expenditure.
Our client has the peace of mind knowing her investments can provide her with an income as and when she needs it meaning she does not have to worry about her financial future.
Trustee Investment
Client Profile
We were contacted directly by a professional firm to discuss a Trustee investment. The investment created via a will was a legacy from a father who died prematurely for the benefit of his two young children.
Challenges
Find an appropriate low risk tax efficient investment for the children’s education expenses and help give them a financial start in life when they reach maturity.
What We Did
We completed a risk analysis questionnaire to find out the level of investment risk the Trustees would be comfortable with on behalf of the children, in line with the Trustee Act (Northern Ireland) 2001.
We discussed when and if income was required. We recommended and arranged a suitable tax efficient investment taking account when the capital would be need to be accessed.