I was referred to a husband and wife, aged 71 and 69 respectively. They had both been widowed prior to getting married. They have no children and wish to maintain a high standard of living. However, they had used a number of different advisers through the years and were unhappy with the complexity of their position.
- Both had accumulated significant investments over the years but were frustrated by the amount of paperwork that they had to deal with.
- They had many different types of investment and did not know what was suitable for them and whether they were making use of their tax allowances
- They were not sure what level of risk they were taking with their investments and were concerned by how it had performed over the years
- They did not know what rate of return was required to maintain their lifestyle over the rest of their lifetime
What we did
- Carried out comprehensive review of existing investment portfolio
- Created a Lifetime Cashflow Plan showing what income they required
- Created a bespoke investment portfolio and restructured cash based investments
- Ensured investments were diversified, tax efficient and suited to attitude to risk
- Clients now know what income they require to maintain lifestyle and that this is achievable
- Improved performance and tax efficiency of investment portfolio and cash deposits
- Reduced income tax liabilities
- Creation of future tax free income streams
- Reduced paperwork and complexity of arrangements
- Put in place annual review program to ensure that they stay on track for lifestyle they want