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 piece, we look at how a review of David and Marion’s existing investments led to better value for money. The adviser also kicked off a process looking at optimal inheritance tax (IHT) planning and structuring assets primarily for income rather than growth.
What first prompted you to seek financial advice?
We initially took financial advice in the run up to retirement. The first firm we chose did not work out too well but nonetheless, a few years after that we knew we needed help. My wife’s mother had just passed away leaving us both property and inheritance. We also wanted to continue the process that we had started of tidying up our financial affairs and so we thought it was time to reengage with the world of financial advice. After lots of research relating to reliability and service, we decided to go with Flying Colours.
What was the advice process like?
Our adviser soon restored our faith in the value of sound advice. He came out to us, and we sat down and had a comprehensive initial chat which covered just about everything you can think of. He then came back with suggestions about our existing investments and the structures we used. He thought we were paying too much in fees on both fronts, thus eroding our returns.
He made changes to our investments so that we were paying a fair price. He also helped us to streamline our estate and put into place the structures needed to ensure our assts will go where we want them to after our deaths.
How often do you see your financial adviser?
We still have ongoing issues to do with streamlining our affairs to make things more transparent and manageable, and so we see our adviser every quarter.
We have a property that is currently rented out, that we plan to sell next year. We want to do this in a tax-efficient way, and we also want to benefit from more income as a result of the sale. We are also liquidating an insurance policy contained in a trust. It has taken quite a lot of work to unravel it all and our adviser has helped with this quite cumbersome process too.
How important is the relationship with your financial adviser?
Having had one bad experience, we were quite wary, but our adviser put our minds at rest, and we now would not be without him!
He took the time to sit down with us and really explore what our aims and goals were, as well as how they were potentially going to change going forward. Having that level of understanding meant he tackled our entire financial situation to leave us well positioned today, as well into the future. We really value this.
Something we particularly appreciate is that our adviser is always easy to get hold of. He is responsive and always ok for a quick call to run something past him or if we have a quick question.
How do you feel about your finances now?
We have complete confidence in our adviser, and it is an ongoing relationship where we both feel like he is on our side. He understands that we’re now looking for income as opposed to returns. He has acted with integrity, expertise, and competence.
Get in touch
If you’re in a similar situation to David and Marion, 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!