Divorce is recognised as one of the most stressful situations most people can experience. At Compass we have recently completed a Pension Sharing at Divorce case for a client who had very little knowledge of finances, as her ex-husband had previously dealt with everything himself. The client approached us as we are based locally and offer face-to-face advice.
Instead of undertaking just the pension business, over several meetings we were able to review all areas of the client’s financial situation and create a full holistic plan. Firstly, as part of the pension planning we advised a course of action which will reduce the client’s potential inheritance tax bill by more than £40,000. Secondly, the client now has a clear strategy to retire some six years early with planned sources of income.
The client has since been in contact again and is so pleased with our service she plans to transfer her investments to our firm for future advice.