Creating a financial roadmap for a client approaching retirement age, to get him back on track

Jamie Tulip - International Advisor
Man with laptop on sofa

The Client's Challenge

Mr H approached us because his pension funds had decreased in value considerably over the last two years. As he was approaching normal retirement age, his UK pension provider had moved his pension funds automatically into what they deemed to be lower risk assets, as part of an automated ‘life styling’ investment strategy, often adopted by large UK pension providers. However, rapidly rising interest rates in the UK had significantly reduced the value of these assets and he was understandably concerned that the value of his pension funds would continue to fall.

Our Solution

As part of his initial consultation and subsequent ‘fact find’ conversation it was established that Mr H’s attitude to risk and his long-term objectives were not accurately reflected in his investment strategy, as it hadn’t been reviewed for many years.

When creating a detailed financial plan for Mr H, I also conducted a holistic review of his other financial planning goals, which included leaving funds to his children, to ensure that this was an integral part of the plan that I presented, with an emphasis on reducing Inheritance Tax (IHT) liability so that his family could benefit from a larger estate.

The Result

Following the recommendations in my proposal, Mr H now has a financial plan that provides a roadmap to achieving his goals – and I will meet with him on an annual basis to ensure that it continues to do so.

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