In each of our case studies, we highlight a specific issue or topic that our advisers have helped clients to manage. We also show how working with a trusted financial adviser provides continuity and peace of mind for our clients.
In this case study, we look at how a comprehensive review of several of Lee’s pension pots into a Self-Invested Personal Pension (SIPP) went on to become a relationship that encompasses broader financial planning and advice.
What prompted you to seek financial advice?
Before taking financial advice, I had been working for the same firm for a long time and accrued a good final salary pension. But the company closed and I realised I needed some advice on my accrued pension benefits, but also what to do about a few other pension pots that me and my wife had. I reached out to a financial advisor who provided a comprehensive pension death benefit overview, helping me understand the implications for both my and my wife’s pensions. This guidance was crucial, as it allowed us to make informed decisions about consolidating our pension pots and maximizing the benefits for our future. With a clearer picture of our financial standing, we felt more secure in planning for retirement.
What, in particular, has your adviser helped you with?
Our adviser initially conducted a review of my pensions brought them together into a SIPP so that we had everything in one place.
He also helped us to remortgage our house on more favourable terms and then gave us advice on making additional pension payments into the workplace pension scheme that I am now with, while staying within the contributions limits.
Today, our adviser looks after all our financial affairs including tax efficiency, inheritance, what would happen in the event of my death – anything you can think of really.
What was the financial advice process like?
The process itself was relatively easy for us. We didn’t have to do much other than the conversations themselves and then signing forms. Our adviser took care of everything for us and from that initial meeting the scope of the relationship has really expanded.
That is down to the adviser and the way that we feel looked after. Our adviser has a real interest in every aspect of our lives including our adult children and making sure they are looked after.
The relationship has grown organically and naturally, and we now would not be without our adviser. We feel like we know each other well and we trust him implicitly.
What made the whole experience stand out?
The fact that our adviser does all the legwork is really important to us. We also like that he is coming from a place of knowledge and experience and is applying that to our exact wants and needs – not just suggesting generic solutions. With our adviser we were able to solve our initial pension conundrum and, since then, we’ve been able to explore our future options and goals and how they would look financially.
The relationship has been just as important as the advice, and it’s now a real family affair where we all have peace of mind and feel ready and prepared for our future.
Get in touch
If you’re in a similar situation to Lee, find out how Flying Colours can help you achieve your retirement goals. Book a no-obligation consultation with one of our retirement planning experts today. It’s free and there’s no pressure to work with us afterwards, but after 45 minutes you’ll come away with:
- A clear picture of where you stand with your retirement planning from a qualified financial adviser
- Guidance on potential tax-saving opportunities you might be missing
- An understanding of your retirement income options and drawdown strategies
- An initial assessment of your pension arrangements
- Professional insight on whether you’re on track for the retirement you want and what you may be missing
So what have you got to lose? Book a consultation today!