• Adviser name: Ben Sherwood
  • Client name: Patricia and Jeffrey
  • Client location: Hemel Hempstead
  • Client since: 2009

Patricia and Jeffrey are in their early seventies.

Patricia trained as a teacher and then became a head teacher, a role which she undertook for several years in different schools. She then worked in the University sector before setting up a leadership training and consultancy business. Jeffrey also ran his own business as a car mechanic and was a client of Hillier Hopkins accountancy practice.

Patricia and Jeffrey

Why did Patricia and Jeffrey decide to take financial advice?

When Patricia set up her consultancy practice, she wanted to consolidate the various pensions she had from her previous roles in education. She was keen to invest her wealth, but did not know where to start. She knew that she wanted her investments to grow, but also be as secure as possible, so that she would be able to retire comfortably.

They approached their accountant at Hillier Hopkins, who recommended that they speak to Ben Sherwood, a Director of their sister firm, Satis Wealth Management.

How did we help?

Ben encouraged Patricia and Jeffrey to consider what their hopes and ambitions were, and ultimately what they wanted to do with their wealth. He also helped them to understand how much risk they were willing and able to take with their wealth.

After careful analysis, Patricia and Jeffrey decided to undertake a pension transfer. Satis then put together an investment strategy which has delivered lower costs, greater tax efficiency, less administration and better reporting.

Ben also had a detailed discussion with Patricia and Jeffrey about their wills and nominating Lasting Power of Attorneys. As they do not have children, they needed to consider what would happen to their wealth after they died.

Having both run their own businesses, Patricia and Jeffrey are keen to support people with similar ambitions. As a result of these discussions, some of their wealth will go to a social enterprise scheme which has been set up to support people starting up their own businesses.

How have they benefitted from the advice?

Both have fully retired recently, and are able to do everything they want to do. Patricia undertakes charitable work which includes working with school trusts; an area where her experience is invaluable.

Having enjoyed active careers and travelled extensively, they do not have a ‘bucket list’, although they do intend to replace their car on a regular basis.

More importantly, Patricia and Jeffrey feel secure about their future. Their investments have grown in a stable way, and ongoing reviews ensure that they can adapt their investment plans as their circumstances change.

Patricia explains: “Where we have not had the time or energy to understand all of the investment choices available to us, Satis has taken all of the angst out of making financial decisions.

“We are regularly consulted and kept updated with reports four times a year, so we are as informed as we want to be. On the whole, we have found Satis to be thoroughly professional and responsive; most importantly, they care.”