Case Study: Mark and Nicola
Why did Mark and Nicola decide to take financial advice?
Having come into a significant sum of money in 2001, Mark and Nicola were in the fortunate position of being able to give up work completely. Despite their new-found wealth they chose to stay in their semi-detached home and maintain their normal lifestyle.
At the time, they decided to use the services of a well-known private bank. However, they were advised to invest in a number of offshore and onshore Bonds with high initial fees, and unclear charging structures.
Unfortunately, they also made significant losses on the investments they were recommended. They had become worried about the financial markets and had lost trust in their adviser who offered very little help and support.
How did we help?
At this point, Mark and Nicola were very concerned about their finances and were keen to move their assets back into the UK, as this is where they felt more comfortable investing.
They wanted to find a financial planner who would simplify their investments, give them access to their funds without restrictions and ensure that their investments were in line with the level of risk they were willing to take.
Having been recommended by a friend, they approached Vall Wilkinson at Satis. Vall helped them navigate through the complexities of the international (largely unregulated) financial markets, saving them thousands in hidden costs and early surrender penalties.
Their investments were moved back into the UK, in the most tax-efficient way possible, thanks to Satis’ in-house tax expertise.
After a review of their financial circumstances, Vall has increased their instant access funds, providing them with more liquid cash to comfortably support their ongoing standard of living. He has also simplified their investments, making them easy to manage, transparent and in line with their attitude to risk.
How have they benefitted from the advice?
After their poor experience of the private bank, Mark and Nicola are delighted with the ongoing support and contact that they receive from Satis.
Mark says: “We feel that they are very conscious of our feelings; they are well aware of our previous bad experiences and understand that we are not risk-takers. It is reassuring to know that Satis is running everything and Vall is happy to talk to us any time and put our minds at rest; it takes the worry away from us.”
“It is also good to know that we have the option of using the accountancy services of their sister company, Hillier Hopkins.
“Satis is a conscientious, family-oriented firm. They show concern and respect our wishes, and do not push us to do anything that is outside our comfort zone. Our next priority will be to work with Satis on our estate planning, to make sure that we can pass on our wealth to our son and other loved ones.”