Paul (aged 44) & Mary (42) had run a Building Services firm for about 12 years when we were introduced to them in 2002. The business was profitable they had received ‘advice’ over the years from a number of financial advisers including their Accountants. It was obvious they had not had the best of experiences with previous advisers & were initially reluctant to meet. Fortunately a meeting was arranged we were able to allay their initial fears & discussed in some depth their immediate issues.
Client Concerns & Immediate Issues
- Over the years the couple had accumulated a wide range of ISAs, Pensions, Unit Trusts & holdings in individual Shares
- They were becoming frustrated with the amount of paperwork they were receiving with their investments.
- When questioned they were unsure what rate of return their investments were designed to achieve
- They had even less idea about what rate of return was needed for them to achieve their objective of having the choice of retiring at Mr’s age 54
- How much was enough to retire on?
- Values & returns appeared to vary significantly
Our Initial Recommendations & Action
- Carried out a comprehensive review of their existing portfolio of investments
- Assisted in defining their future ‘lifestyle’ & quantifying that in financial terms
- Enabled the clients to tell us the investment volatility they were prepared to accept
- Taking into account the results of 2 & 3 above we set objectives for their portfolio that were appropriate for their appetite for risk and their time horizon.
- We consolidated their assets into one balanced program
The Results so far
- Clarity – one point of reference for all their investments
- Security – knowledge their portfolio is being invested & monitored regularly with the aim of having the choice to retire at 54.
All of which means they are more likely to spend their golden years watching their grandchildren growing up instead of nervously checking their bank balance or the stock market
Please note: This document is provided as a working example and for information purposes only this should not be construed as financial or investment advice.