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Client Stories
Posted on 29th November 2016

Holistic financial planning approach

The client’s story

Margaret had inherited a large capital sum from her late father’s estate. She was keen to utilise the capital to help with both short and longer term goals and improve her financial security.

Our approach

Margaret had identified that she did not have sufficient financial knowledge, resources and time to put together a coherent financial plan to maximise the benefit her inheritance could bring her.

She needed professional financial advice around the opportunities and pitfalls to give her the confidence and technical support to utilise the funds in the most appropriate way.

Working with her Brachers Wealth Management advisor Margaret initially benefited from identifying her financial planning needs and attitude to risk, allowing her to prioritise the retirement planning and investment objectives she wished to address.

She left her advisor to undertake the necessary research around her occupational pension scheme and existing investments and build a suitable financial plan while Margaret got on with life.

Margaret met with her advisor at later date where a full financial report detailing the recommended action was presented.

The outcome

Taking a holistic financial planning approach Margaret received and implemented a number of recommendations to meet her financial objectives:

Margaret identified and retained sufficient short term savings to meet her planned expenditure and provide a suitable contingency fund.

Margaret repaid a capital lump sum to her mortgage to allowed her to reduce the monthly repayments, shorten the remaining term and ensure her mortgage was repaid prior to retirement.

Margaret was able to maximise her pension contributions using a ‘carry back’ approach to benefit from tax relief and boost her existing pension savings via an appropriate pension vehicle which offered the future access and flexibility she
required.

Margaret was able to invest the residual capital to utilise tax efficient ISA and Capital Gains Tax allowances and adopt an ongoing advice service to regularly update her financial plan and provide the opportunity to increase the future
tax efficiency of her investment portfolio.

The benefit

Without the input of a professionally qualified adviser to identify her initial objectives, research the opportunities open to her and make appropriate recommendations, Margaret would have missed opportunities that she did not initially understand Margaret’s advisor was able to combine her personal objectives, existing financial products and new funds to provide and explain a range of recommendations and strategies to meet her financial objectives in the most tax efficient manner.

Brachers Wealth Management provides comprehensive financial advice to private and corporate clients. We advise on all aspects of financial planning including personal wealth management, retirement, pensions and long term care.

Published by

Christopher Eriksson-Lee

Partner

T: 01622 776465

Email Christopher

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