The following scenarios help to illustrate our approach:

Case 1

A new client who owns an extremely successful business described how he intended to retire at an early age and enjoy a jet set lifestyle which he felt was achievable through the sale of his business. Initial estimates, calculated through valuations of similar businesses projected forward to his intended retirement date, showed the income stream realised solely from the sale of his business would not enable him to lead his dream lifestyle into retirement, for long.

Ian Booth, head of financial strategies explains: "The thought of not having the money to live his dream life in retirement had not crossed our client‘s mind so we set about deciding how we were going to achieve it for him. Possibilities included spending less now, spending less in retirement, retiring later, increasing the value of the business or looking for alternative and additional income streams."

"The client did not wish to give up the lifestyle that he had envisaged for himself and his family by either spending less now or in retirement, so instead we utilised the client‘s skills and experience to invest in other areas to produce additional income streams. We performed a complete review of the client‘s income and outgoings, assets and liabilities, initially focusing on the areas directly in the control of our client, reducing any unnecessary drainage on his income, for example by reducing payments made on debt by re-mortgaging, reducing insurance costs and credit card payments. This review then focused on tax inefficiencies such as utilising annual allowances, husband and wife transfers and if required, more complicated tax schemes. The excess income the review generated was redirected into different types of additional investments."

"We produced a revised financial model, incorporated his original business with the additional investments and assets now in his portfolio, and were able to bridge the expectation and reality gap that had existed. I am delighted that the client will now be able to enjoy the jet set lifestyle well into his old age."

 
Case 2

"A new client wanted to take the benefits from his pension arrangements and had been advised by his previous advisers that his benefits in retirement would be a maximum tax free cash sum and reduced pension income. The individual was advised that his pension income would be taxed at his highest rate of tax."

Graham Waterworth senior manager explains: "when we investigated the situation further and explored the client‘s remuneration history it was evident that in calculating the retirement figures his previous advisor had not taken into account substantial benefits in kind. When the figures were recalculated the client‘s tax free cash entitlement was increased substantially, thereby reducing the level of his taxed pension income."

"When advising new clients on how their retirement benefits can be structured they are usually completely unaware of the number of options that are available to them. Most clients believe that their only option is to take their benefits with their existing pension provider. Unfortunately this will prove to be financially disadvantageous to the majority of clients. Our role therefore, is to advise clients on all their options using our experience and expertise to maximise the client‘s benefits and to allow them to make a fully informed decision."