We help clients wanting to understand their pension choices, including when to retire and whether to consolidate pension pots.
Pensions and retirement planning increasingly feature in the media, as governments and individuals struggle to bridge the gap between expectations of a comfortable retirement and the cost of providing it.
With people living longer, the cost of funding decent pensions increases as each year goes by.
Both in the UK and abroad, governments have been increasing the age at which state pensions become payable, and this trend is almost certain to continue.
Many people would prefer to retire earlier than the state pension age, however, and they in particular need to ensure that they have the financial resources to enable them to do so.
Our retirement planning for clients normally starts with pensions and the tax-efficient opportunities that they offer.
We also look at other more flexible investments which can either be held alongside a pension arrangement or be purchased as an alternative.
Pension legislation has changed significantly in recent times and there has never been a more important time to seek independent advice in this area - giving you the best options to choose the lifestyle you want in the future.
Helping You Reach Your Retirement Goals
We have a lot of experience giving retirement planning advice, whether you are in process of setting up your first plan, or whether you have reached retirement and want to understand the wide range of options available to you in terms of drawing your pension.
Sound retirement planning starts by taking some basic steps, such as:
- Ensuring you have an idea of what income and lump sum you need in retirement, and when;
- Understanding at what age you might want to retire;
- Considering whether you have suitable investments held inside your retirement-planning products.
Once we have an understanding of these points, we are able to consider your personal circumstances, look at your existing arrangements, before highlighting a suitable retirement planning strategy and demonstrating this plan through cash flow modelling.
Where it is appropriate to use a new, or alternative product, we will carry out research on the best available plan from the whole of the market before documenting our advice in a clear and constructive manner.
What Does Good Pension Advice Look Like?
The decisions you make whilst planning and approaching your retirement will be some of the most significant in your lifetime.
- Should you take tax-free cash?
- Do you need a secure income for life?
- Can you access your pension when you need to?
- Do you understand the various pension schemes that you may currently have?
- Are you concerned that you might not have enough money to enjoy a comfortable retirement?
We’ll answer your questions and explain all the options available to you.
We help our clients by giving clear, straightforward advice on how they can achieve their life/retirement goals.
Should I Consolidate My Pensions?
It might be the best advice to consolidate pensions if you have several of them, but we can't advise that until we know what you have;
- how well invested they are,
- how long before you are due to retire,
- what charges are taken, and
- whether the investment funds themselves are right for you.
With many people changing their employer’s multiple times throughout their working life, most have accumulated different pension plans and may not have had the time or inclination to review and consolidate them each time.
What Might My Retirement Look Like?
We firmly believe in starting with the end in mind, as by focussing on what retirement looks like, we can look to establish what this would cost and from this can work back to make a suitable recommendation.
There are a wide variety of retirement plans available; our role is to advise on which is most appropriate and this may involve setting up a new plan, providing advice on existing plans or indeed a combination of both.
Depending on the type of pension scheme, you may be able to take tax-free cash sums, a variable income through flexi-access drawdown, a guaranteed income under an annuity or a combination of these options.
There are many things to consider when you approach retirement:
- You will need to review your finances to ensure your future income will allow you to enjoy the lifestyle you want.
- You will also be faced with a number of different options available for accessing your pension.
- It’s essential that when being faced with such important decisions that you obtain professional advice and guidance.
Time For a Pension Review?
Imagine dividing retirement planning into three phases: a larder, a fridge and a freezer.
- The larder represents the first couple of years of retirement; that bit of the portfolio should be in cash and very liquid assets.
- The fridge is the part of the portfolio you will need after about two years when the larder is bare; the fridge part should be in reliable, income-bearing assets that can be called on when needed.
- The freezer is a pot of assets that you can just leave alone for years, but call on when the fridge is empty.
All three need to be carefully checked, regularly, to make sure they are sufficient for your needs throughout your life.
Please contact us to review your situation and consider the ways we can help you make the most of your retirement income and enjoy a happy financial future.
Rigorous Independent Hard Work
As a truly independent advisory firm, we can access the whole of the market and find bespoke solutions that will meet your needs specifically.
We can look at whether it is in your best interests to put old pensions into either a modern flexible pension plan, leave them where they are, or move them to an existing plan.
We look at all pension companies, and their funds, to see what charges, performance, and investment risk, is being taken.
That's a very rigorous research tool, probably the best on the market, covering the whole of the market.
Being independent means a lot to us.
Impartial advice trusted expertise.
Contact Us To Talk About Pension Advice
- We have the specialist qualifications and professional memberships – our regulator requires financial advisers to have a specialist qualification for discussing investment advice, and we have not just them but a wide range of highly regarded qualifications to show just how professional we are in giving our advice.
- We are members of the Society of Later Life Advisers (SOLLA) and Personal Finance Society, so we specialise professionally in retirement, pension planning and investment advice all the time.
- It’s personal – our clients are treated as members of our family; can you imagine us not doing our very best for every one of our family?
What It Means To Be SOLLA Accredited
We have been advising clients on long term care solutions for several years now, backed up not just by professional qualifications but also by the membership of various professional bodies, most notably the Society of Later Life Advisers (SOLLA).
Clients requiring financial planning in their later life benefit from advice that is clear and concise.
Such advice comes from an adviser that is suitably qualified and experienced to advise them and manage their financial planning.
We are proud that Ian Francis is an Accredited adviser with SOLLA.
How Much Do We Charge?
We hope you respect the fact that we provide professional services, much of our work is within a highly regulated field, which is expensive to keep up with regulatory and professional fees, but we keep our costs as low as possible.
We offer a free, no-obligation initial telephone consultation for new clients to answer some initial questions and help you with some first steps.
If you would like to use our services after our initial telephone call then we charge a fee of £150 per hour; as we aim to cover the whole of Lincolnshire our travel time is included in the hourly rate.
If you would like us to provide a recommendation or arrange a transaction then we charge 3% of the amount, subject to a minimum of £750.
Our Resources Hub
No matter how seemingly silly or difficult, our aim is to answer your questions and give you confidence about our professional work.
Investing now is all about getting the best life for the future.
- How personal pensions work
- Should I consolidate my pensions?
- Squeezing the pension PIP
- Approaching retirement
- Your pension choices
- Enjoying retirement
As always, if I can be of assistance, please do get in touch by phone or email.
What Our Clients Have Said
“The day I spoke to Ian was the day my life changed.
He took an interest in my circumstances in a way that no one had ever done before, I had assumed I would just go on until 67 then stop.
I’d never met anyone like Ian before; his first comments were to challenge my dull assumption.
I’ve been able to retire early, the stress of work has completely gone, and my life with friends has brought such joy.
I always knew what Ian's fee would be, he was so open about everything, I just enjoyed having our meetings and learning about my future!"
A pension is a long-term investment; the fund value may fluctuate and can go down.
The value of investments and any income derived from them can go down as well as up as a result of market or currency movements and investors may not get back the original amount invested.
Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
Past performance is not an indicator of future performance.
Screening out sectors or companies may result in less diversification and hence more volatility in investment values.
Also, tax and legislation may change and your own individual circumstances, including where you live in the UK, will have an impact on your tax treatment.
“You should get the very best advice and products tailored just for you”
Please Get In Touch
2a Sadler Court, Lincoln, LN6 3RG
The guidance and/or advice contained within this website is subject to the UK regulatory regime. It is therefore targeted at consumers based in the UK. Chestnut Financial Services Limited. Registered in England no 9918363, 2a Sadler Court, Lincoln, LN6 3RG. Authorised and regulated by the Financial Conduct Authority.