Steve and Renata: Private Clients

Background

Steve and Renata came into contact with gpfm via their solicitor, who recommended us as efficient, cost effective financial planners. The couple were looking for financial advice in three areas.

Firstly, they wanted to review their pension schemes to ensure they were getting the most they could out of their existing contributions. Secondly, they wanted to generate money to allow Renata’s mother to purchase a retirement property. Finally, they wanted to put a plan in place to achieve another property goal – buying a house for their son.

Key challenges

It was important to Steve and Renata that they worked with a financial planner who was knowledgeable in both the areas of property and pensions. As Steve and Renata could not synchronise the sale of Renata’s mother’s previous property with the purchase of a retirement home, they needed to generate additional funds to cover the costs. As they were gifting funds to Renata’s mother, there were inheritance and gifting issues to consider during the purchase.

Steve and Renata’s pension history also presented a challenge. Steve had multiple pension pots with different providers while Renata, having been employed by the same company for a number of years had contributed to only one significant pension scheme.

Solution

After a consultation with Simon Frost, Steve and Renata were provided with a solution to find the money needed to meet their property acquisition goals. The family successfully bought the two houses they needed within the desired timeframe.

After researching all existing pension schemes Steve had contributed to, Simon recommended that Steve consolidate his multiple pension pots into one competitive new pension plan. On reviewing Renata’s long-term company pension, it was found that her current scheme was optimal and so no change was needed.

After achieving their three initial goals, gpfm continue to consult with Steve and Renata on their financial planning needs.

A quote from the client:

“We found gpfm to be professional, capable and trustworthy. They met and exceeded our goals, kept promises and were very responsive to questions. We would hold them in strong regard if we ever wanted to reassess our financial situation.

Simon was very knowledgeable about the areas of financial planning we were looking for advice on. He was upfront about fees and made sure we understood the cost structure from the start, which we really appreciated. We found gpfm to be efficient: both in how they worked and in terms of giving us a financial solution.”

About gpfm

gpfm are an independent financial planning company dedicated to the provision of personal, professional and objective-driven advice for our clients. We have been awarded the Chartered Financial Planners title by the Chartered Insurance Institute for offering high quality, independent and informed advice that meets the needs of our clients.

If you are seeking financial planning advice, get in touch with us today at enquiries@gpfm.co.uk or call 01992 500 261 now, and see how we can help address your financial future.