Busy Family Life

CASE STUDY

 

Background

Mike and Sally have four children, two of which are twins. Mike is a Consultant Anaesthetist and Sally runs her own business providing care services to the elderly. They have a very busy life and little time to dedicate to their current and future financial planning.

When they first started working with Manse Capital, over 10 years ago, they had accumulated a large number of financial products from various providers and had little idea if what they had been sold, would in fact achieve what they wished it to.

 

Our approach

Mike and Sally took advantage of our Second Opinion service and receiving a review of their existing products. This showed that the couple had a number of investment products with high charges and modest returns; and a number of insurance contracts that provided insufficient cover for them and their four children, in the event of illness, incapacity or death.

A detailed discussion was held concerning their short, medium and longer term objectives, their risk profile and realistic insurance requirements. A structured financial plan was then drafted that enabled Mike and Sally to identify the following:

  • At what age they could retire on an income sufficient to meet their lifestyle objectives.
  • How they could afford to provide further education costs for their children.
  • What the correct level of insurance was to ensure their family was suitably provided for in the event of death, serious disability or incapacity.
  • How to best ensure that the wealth they had worked hard for could be passed efficiently and effectively to their wishful recipients in the event of their death.

The plan is reviewed every year to ensure it remains on track and to take account of any changes to personal circumstances, legislation and investment returns.

 

The outcome

Mike and Sally now have the reassurance that their chosen future family lifestyle is affordable and achievable, and the knowledge of when they can retire.