Investments, Portfolio Services and Investment Reviews
MEET MICHAEL AND ANNE
Investment Portfolio Services: Michael and Anne set up an investment portfolio with their bank three years ago. The pair wanted to review their arrangements to see whether their plans were performing as they should and to ensure that the plans were still aligned to their objectives.
During the past three years their financial adviser had changed twice. Thus the couple wanted continuity with regards to who they would meet annually and the level of advice and support they would get.
Michael and Anne are both 67 and 57 years old. Michael is retired and Anne works in senior management for a large local employer.
The couple own their home with no mortgage. They each have around £220,000 in ISAs held with a well-known bank, along with joint investment bonds, shares and cash on deposit for emergencies. Michael is in receipt of his work and state pension, Anne isn’t ready to retire just yet and is continuing with her role at work.
Godiva Wealth Management specialises in providing a professional, high quality, bespoke advice service to both private and corporate clients
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WHAT DID MICHAEL AND ANNE NEED HELP WITH?
Michael and Anne wanted to review their ISAs to check whether performance and charges were in line with the market. They wished to assess their risk profile to establish whether their investments were still suitable for them. As they have a 5-year plan, Michael and Anne wanted to ensure that their investments were positioned correctly for longer-term growth.
They both wished to understand how they could use their assets to provide an income during retirement and capital, should they need to help the children with deposits for their own homes.
HOW DID WE HELP?
At Godiva Wealth Management we discussed their attitude to investment risk, investment experience, term and their capacity for loss; all in order to ensure any recommendations were suitable.
We conducted independent investment research which concluded that the existing investments had underperformed against their benchmark averages for several years. In addition, the charging structure of their existing investments was high, thereby having a dramatic reducing effect on their money.
We conducted detailed cash flow modelling so that Michael and Anne could position their investments in a tax-efficient manner and strategise their plans. After considering all the alternatives; we concluded that they should take the following actions:
• Michael and Anne should transfer their investments to benefit from a reduction in charges.
• To agree on an ongoing service arrangement to conduct regular risk assessment, cash flow modelling and investment analysis.
THE OUTCOME
We reduced Michael and Anne’s investment costs by £7,000 over five years.
On an ongoing basis Michael and Anne can adjust their risk profile to suit their change in circumstances.
The investments are invested into a fully asset allocated investment portfolio, specifically tailored to their attitude to risk.
One point of contact for their plans and a structured annual review of their assets, including cash flow modelling and independent investment research. The option to make changes should their investments fail to perform.
Access 24/7 to their investments providing up to date, accurate fund and portfolio information, all held on a data secure portal.
