Through this review we discovered that the portfolio was not delivering what our client expected. Not simply that the plans he had were more expensive than alternative options, nor that they were very restricted in terms of the funds available, and so potential growth. These are important factors, but there was more bad news to come…
The plans did not allow our client to nominate his chosen beneficiary, did not allow drawdown of pension funds and required a default annuity at 75. All of which was not helpful to our client and his family circumstances.
Following the advice provided by Martin Collins our client has revised his pension portfolio, and is now able to ensure the proceeds of his pensions remain outside his estate, meaning his hard earned wealth stays with his family as he always intended. Oh, and the new portfolio is also cheaper and has potential for better growth. A great example of how we strive to achieve better for all our clients.
