Alan and Joyce: Private Clients

Background

Alan and Joyce came into contact with gpfm via their solicitor, who recommended us as efficient, cost-effective financial planners. The couple was 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 Joyce’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 Alan and Joyce that they worked with a financial planner who was knowledgeable in both the areas of property and pensions. As Alan and Joyce could not synchronise the sale of Joyce’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 Joyce’s mother, there were inheritance and gifting issues to consider during the purchase.

Alan and Joyce pension history also presented a challenge. Alan had multiple pension pots with different providers while Joyce, having been employed by the same company for several years had contributed to only one significant pension scheme.

Solution

After consultation with Simon Frost, Alan and Joyce 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 Alan had contributed to, Simon recommended that Alan consolidate his multiple pension pots into one competitive new pension plan. On reviewing Joyce’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 continues to consult with Alan and Joyce 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 appreciated. We found gpfm to be efficient: both in how they worked and in terms of giving us a financial solution.”

If you would like to talk to a member of the team here at gpfm, please don’t hesitate to get in touch over email enquiries@gpfm.co.uk or call 01992 500 261.

This article is for information only and must not be considered as financial advice. We always recommend that you seek independent financial advice before making any financial decisions. Investments can go down as well as up and you may get back less than you invested.

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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.