Ex-IFP President Julie Lord has described how she and fellow Financial Planner Gretchen Betts helped a client who was plunged into uncertainty in middle age after being unexpectedly made redundant.
Ms Lord and Ms Betts, who recently started up Magenta Financial Planning in Wales, have written about a recent case in which a longstanding client needed help with exit terms.
Ms Betts CFPTM Chartered MCSI explained it was a case that highlighted how completing a personalised lifetime cashflow for a client is not a one off exercise.
The case is outlined in full in a double page feature in the latest edition of Financial Planning Today magazine.
Chartered Financial Planner Ms Lord said Mark, 55, was a highly successful executive but was facing poor redundancy terms.
Over the years the duo produced for him, and his wife, Margaret, a lifetime cashflow forecast and met regularly to review this to reflect changes in their lifestyle and needs.
Ms Betts said: “It was all happening very quickly and he needed to know what questions to ask – or what to demand - by the next day! The initial offer wasn’t great, considering the years he had worked there.”
Ms Lord said: “Mark didn’t want to stop working – despite his lifetime cashflow forecast illustrating that he could afford to. He needed our help to ensure he got a good deal and that the options he chose were the most tax efficient and flexible for their future. He also needed to make sure that he understood the decisions and how these would impact on his and his wife’s short and long term financial position and happiness.”
Find out how the company helped to sort Mark’s finances by reading the full article HERE.
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