Advice needs:

Gavin has been managing his own portfolio of investments for some time, but with a combination of circumstances wanted someone else to do this for him. Gavin knew that with a young daughter, demanding job and volatile investment markets he would not have the time needed to devote himself to managing the investments.

He wanted an adviser that he knew was well qualified and could be trusted to work with him to put in place the right ideas and strategies for their investments to work.

Ideally Gavin and Claire want to be able to pay off their mortgage, have enough money for retirement and fund education fees for the daughter/children all by the time Gavin is 60.

Current position:

Gavin and Claire have a little girl, Amy, and would like to plan for her future as well as their own retirement. They have built up a good level of savings and investments and want to make the most of future income to reach retirement in a comfortable financial state.

Gavin and Claire have £80,000 of savings as well as £100,000 in investments. They own their home and have a mortgage of £170,000 to pay off.

Gavin earns around £80,000 per annum and is confident of being able to save a good portion of that towards their future goals.

What we worked on:

It was important to establish who Gavin and Claire were as people and what they wanted from their life. This would help to make their financial and investment plan their own. During this process we identified that they really do enjoy their life and would not change much right now. In the future there were some personal things they wanted to do but for now they were very happy.

We worked on the ideas Gavin had formulated for their future financial goals and started to build a portfolio of investments that would help them grow and protect their wealth. Because of Gavin’s experience of investing he was keen to input his ideas into the portfolio. This is perfect as Investor Profile’s philosophy is to personalise each client’s portfolio. The best way to do that is to work with our clients and to include any investments they want to see in there.

We created the initial portfolio based on the risk profiling exercise, their needs going forward as well as expected economic and market trends. We then revised the portfolio recommendations by taking out some funds and replacing them with others. In fact, only after several rounds of adjustments did we agree on a portfolio that we were all very happy with.

Alongside the individual recommendations we also worked on making sure Gavin and Claire would have enough cash available to them for immediate and short term needs, and that this too was invested in the right way.

We decided to move all of their ISAs into one place where the money could all be managed easily by Investor Profile. However the Self Invested Personal Pension that was held by Gavin through an online account was already pretty cost effective and could provide access to the funds we wanted so we agreed to leave that where it was and for Gavin to make the necessary trades when required.

Because the majority of the money that was to be invested into the new portfolio was already in cash we decided to phase investment into the markets over a period of 12 months. This would help to minimise the risks and to achieve an average buying price over a period of time.

Gavin and Claire enjoy their life knowing they have someone they trust looking after their investments and looking out for their best interests.

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