We understand that Private Clients who have often spent their working life planning to accumulate wealth are suddenly faced with very different challenges as they approach or move through retirement.
This often involves managing the balance between capital preservation and income throughout the remainder of their lifetime and also providing a legacy for family. Common issues to most private clients include providing adequate income, tax mitigation, capital preservation, family issues, inheritance tax and health care.
We have developed a specific service proposition for our private clients to ensure that you are clear on the advice and service we can provide to you and agree how this will be delivered.
Our wide ranging advice is designed to assist you through different life stages.
As clients approach retirement the most commonly asked question is “do I now have sufficient capital and income for the remainder of my lifetime?”. By starting to give you advice prior to your retirement we can answer this question and ensure the transition into retirement is painless.
At retirement you are probably faced with more financial decisions than at any other single point in your lifetime. Most of us will have accrued pension benefits and be faced with numerous retirement income options. Some choices may be irrevocable, others will need to be regularly reviewed but we can ensure appropriate advice is given taking account of your individual circumstances.
You may have built up a range of investments over the years with the primary aim of capital growth and upon retirement want to begin to generate income from these. To achieve this some restructuring might be required to balance your income and capital preservation requirements and take account of your revised income tax position.
Our experience tells us that through retirement you will often be trying to balance different competing issues ; enjoying retirement to the full, ensuring that remaining wealth on your death can pass to your family mitigating inheritance tax where possible and also increasingly, considering the financial impact of possible long term care.