MON - FRI: 9.00AM - 5.30PM
CASE STUDY
Change in employment circumstances due to illness
We are proud to provide sound financial advice to clients having wide-ranging financial circumstances and goals.
CASE STUDIES
The Client
Following life-changing illness and changes to his work circumstances, Paul* wanted to gain more control over his financial future. A long-time pension saver and homeowner, Paul had never received professional financial advice in the past.
PAUL'S STORY
Seeking pension drawdown flexibility
Paul sought advice from the Financial Options Group because he felt concerned about the potential impact that his unavoidable change in employment status could have on his ability to support his family.
Having various retirement savings in different places, Paul wanted an easy way to manage his pension, one which enabled both himself and his wife to receive an income flexibly and tax-efficiently.
PAUL'S STORY
The Outcome
Through face-to-face meetings, Paul and his wife worked closely with a Financial Options Group adviser to establish their financial circumstances, objectives and appetite for risk. A full fact-find was conducted to ensure that all financial planning would be comprehensive and in alignment with their big-picture financial prospects and goals.
With support from their adviser, Paul and his wife decided to consolidate their Defined Benefit pensions and Defined Contribution pensions into a new pension plan which offers Flexi Access Drawdown, as this would give them the flexibility in drawing down their income that they had been seeking.
This new pension also provided better death benefits for Paul’s family. Should the worst happen, Paul’s family would receive a lump-sum pay-out rather than a spouse’s scheme pension, with this and all aspects of planning being arranged for the client’s peace of mind and the long-term financial wellbeing of his loved ones.
Paul now feels he fully understands the financial options available to him, especially those which will help him to build future financial stability for himself and for his family. He receives ongoing support and advice from his adviser and our Client Services Team, including regular reviews which ensure his planning continues to align with his needs.
Paul's adviser provided proactive help and supportive guidance, and as a result he has been able to accomplish his immediate financial objectives. Solid advice has helped put him on the road to long-term financial health and wellbeing.
If you would like to discuss your own financial circumstances and objectives with a professional financial adviser, please contact our team via the form below or call us on 0161 764 9944.
*Clients are not real and have been used for illustrative purposes. Case studies should not be considered a replacement for individual tailored investment advice.
The value of pensions, investments and the income from them can go down as well as up. You may not get back any of the amount originally invested. Transferring out of a Defined Benefit Scheme is unlikely to be in the best interest or be suitable for most people. Tax treatment varies according to individual circumstances and is subject to change.
CONTACT US
Get to know your financial options
Would you like to speak with a financial advice professional? Simply complete the form below and a member of our team will soon be in touch.
See our Privacy Notice to learn more about how we handle your personal information and data.