Global Engineering Company

Adam – Global Engineering Company

Client comments

“Our previous IFA had left the industry so when we read an article about Trentham Invest and their ability to organise and provide structure in a logical format we thought we would speak to Nicola. That was 5 years ago. One of the first things she did was to give us a financial plan and she now makes sure we stay on track.”

Problem

Adam came to Trentham Invest as a 48 year old finance director. During his career he had accrued six pensions from previous employments and change of employers’ pension provisions. Now, he wanted a financial plan that would ensure financial security for him and his family. One key question was what should he do to simplify the arrangements; could he put them altogether? However, one of these previous schemes included a final salary pension scheme. What should he do with that?

What we did

One of the initial outcomes was to consolidate five of his pension pots into a single scheme. At the same time it was decided to be careful with the final salary scheme. We have monitored the transfer value, and seen it increase. The final salary scheme continues to be monitored. Despite the market turbulence over recent years, 2009-2012; the transfer value has increased by a significant 26%. Despite this, Adam feels better off staying put. We continue to monitor key data each year.

Measurable results

  • Moving various pensions into a single plan gave Adam tighter control over his wealth.
  • The amount of administration he had to do was cut by 4/5ths!
  • He understands one statement and has much improved education, clarity and confidence in his planning.
  • By delaying transferring out of his final salary pension the transfer value has increased significantly, by 26%.

Note: The events and figures quoted in this case study are from a real Trentham Invest client; however, the names have been changed to protect client confidentiality.