Retirement Strategy Appraisal
Once we’ve worked with you to understand exactly what you want to achieve when you retire (desired income, lifestyle, other goals) we’ll build an individual plan so that you’ll know if you’re on track to:
• Retire at your chosen age with sufficient income
• Retire without downsizing from your existing property
• Have sufficient income for the rest of your life
The steps we follow when devising your strategy is similar in part to what we do with the Holistic Financial Planning service:
Initial Telephone Discussion
This will enable us to establish what you are trying to accomplish and where we will be able to help. This usually takes 20 – 30 minutes.
Arrange a Meeting and Send a Review Pack
One of the keys to the initial meeting is to ensure the time spent is as productive as possible. In advance of our meeting we’ll send you some paperwork to complete and ask you to supply us with a list of your policies and current financial arrangements. We’ll also ask for a brief overview of your objectives. At this stage we don’t approach any of your existing financial providers.
Initial Meeting
The main purpose of the meeting is for us to demonstrate the role that we can perform for you, to discuss your objectives in more detail and also give you our opinion on the likely effectiveness of your current arrangements.
At this stage we’ll ask you to read and sign our Client Agreement. This is your authority for us to start work for you. We’ll give you an accurate estimate of the fees. This estimate includes all the financial strategy research, but excludes any implementation charges.
Establish your Current Position
Before a financial planning strategy can be built we must determine exactly where you are now. Our client support team liaise directly with the insurance companies and investment houses with which you already have arrangements so that we can compile an accurate picture.
We’ll ask you to complete a spending plan using an excel spreadsheet, supplied by us. We’ll also email you a link to a website for you to complete a risk assessment questionnaire (or we’ll post a paper copy to you).
Creation of a Retirement Planning Strategy
To demonstrate how far your existing arrangements come to helping you achieve your objectives we build a cash flow model (we show you an example of this in the initial meeting) of your planning as it stands at the moment. This model enables us to identify areas of weakness and vulnerability in your planning.
The most important purpose that this exercise plays is that it helps us identify and quantify any shortfalls you may have if you leave your planning as it stands.
Whilst your model is built, the financial planning team work alongside your financial planner and between them they prepare an agenda of areas that require attention and where appropriate will complete the necessary research to be able to make a firm recommendation(s).
Retirement Strategy Review Meeting
We will reaffirm your objectives and analyse the model that we will have created. From this point we can outline the strategy you should adopt to achieve your objectives.
Detailed Financial Planning Report
Following our strategy review meeting we will send you a detailed report outlining our specific recommendations and advice.
Implementation
Once you are happy with the course of action that you wish to take in order to build on your existing planning our client support team will undertake any processing requirements.
Future Annual Reviews
The most important factor in achieving your objectives is ongoing monitoring. Our carefully developed future review process will ensure your financial programme is kept on track and any changes in your circumstances can be catered for.
How We Charge
This service is fee based (agreed with you in advance). The bulk of the fee is payable when the work is complete and you have received your financial planning report.
To find out more about the Retirement Strategy Appraisal service please click here to go to the enquiry form. We’ll get in contact with you within 24 hours.
