Retirement Planning Case Study
Before coming to framework financial, this client was very confused about his pension position.
- Lack of clarity with current situation
- The client received no on-going advice or service regarding his pension contract
- He had no idea of values or likely estimated funds available at retirement
- There was no evident investment strategy or understanding of the client's risk profile
- Lack of co-ordination
- There were three different pension plans in place
- Lack of time
- The client had never prioritised his retirement planning or considered its importance
What We Did
- We obtained information on values, charging structure and funds invested on each individual contract
- We provided a report & recommendations outlining our thoughts on these arrangements
- We determined his risk profile and developed an agreed investment strategy
- We reduced the charging structure, offering better long term value
- The client incurred no impact from commission costs on restructuring his pension affairs
- We advised the client of pension contributions required to fund his retirement lifestyle
- The client now had a clear understanding of his pension arrangements.
- The amount of each monthly contribution invested increased from 93% to 100% and due to our fee based approach an extra €1,330 was added to the new pension plan on the client’s behalf.
- A reduction in plan costs added €8,760 to the projected value of the pension plan at maturity compared to the other arrangements.
- Our on-going service provides peace of mind to the client in knowing that his pension plans have an agreed investment strategy linked to his risk profile with our firm monitoring its progress.