Pathfinder Private Wealth Financial Freedom For Your Business And Family

Promotional Content: Pathfinder Private Wealth

Managing and planning your wealth is complex and time-consuming, and takes you away from doing things you love. Creating clarity and realistic goals, we guide you to financial freedom for your business and family, both now and in the future. David Grant, a Chartered Financial Planner  at Pathfinder Private Wealth explains how to get the most from your finances. 

Case Study: Two directors/owners of a company (also brothers) had no financial advisor, succession plan, or clear objectives. They needed guidance, so here’s what I did.

Pension planning – I started pension funding within a company Small Self Administered Scheme (SSAS) for both directors. When one of the directors left the business I arranged to remove him as a trustee of the SSAS, and opened a SIPP to transfer his pension assets from the SSAS. Eventually, I then arranged transitional protection to secure pension lifetime allowances and undertook pension planning for their wives and children.

Investment planning – I set regular ISA funding for the brothers and their families and implemented a funding strategy for their children’s school/university fees. I also established offshore investments to support retirement abroad for one brother.

Estate planning – born outside the UK and having lived overseas for years, I worked with a qualified tax adviser to explore the non-dom status for one brother to avoid UK IHT on his worldwide assets, which involved creating an Excluded Property Trust. We also looked at creating trusts for their children. I also curated whole of life assurance plans to cover the brother’s IHT liability, with several policies providing a considerable legacy for the other brother’s daughter.

Cash flow planning – personal and business cash flow models covered children’s school fees and eventually retirement planning, and I modelled for one brother’s business exit and succession to his eldest son.

Business financial planning – life assurance policies (keyman assurance and shareholder cross option agreements) were established for owners and minority shareholding directors. I also provided financial planning advice to non-owner directors and company managers, and sourced a foreign exchange company to provide an international payment service. Now, a dedicated account manager looks after their online business account and provides spot and forward contracts for international operations.

It starts with discovery.

The initial communication helped me understand the client’s plans, dreams, fears, and priorities for their families and business. I aligned their objectives with realistic financial strategies, using quantitative and qualitative analysis of their current strategy.

From here, I created three plans, one for each brother and one for the business, each with funding plans and a distinct timeline. I met annually with the brothers, their families, and company directors to discuss government/global economic changes that may affect their plans, and reassessed their goals and objectives where necessary.

It ends with financial freedom.

Excess business profits funded pensions and life assurance policies, with personal contributions funding ISAs, investments and the children’s pensions creating a legacy for them. The children’s school fees (£60kpa) were paid for through targeted investments, and financial support was provided for university. One brother was also able to retire overseas throughout the year.

Both brothers and one of their wives now have fully funded, substantial pensions, and the other brother’s wife has a substantial investment portfolio. The brothers have substantial offshore investment plans with currency conversion options, too, which can be drawn down tax efficiently.

Retirement covered and business succession in place, financial freedom has been achieved for the brothers, their business, and their families. They can now choose to work rather than need to work, with no nasty surprises.

Instead, they can focus on what they do best, living their lives with ultimate peace of mind thanks to a 20-year strategic plan. The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief is generally dependent on individual circumstances. SIPPs will not be suitable for everybody and generally only those who are fairly experienced at actively managing their investment should consider this type of investment. The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.

SSAS and Trusts are not regulated by the Financial Conduct Authority. The advice provided was given after a full evaluation of their specific needs, circumstances and requirements. The solutions provided would not be suitable for everybody and the information provided does not constitute advice.

What I offer my clients:

– Trustworthy, proactive guidance that works in your best interest.

– Gold standard advice based on superb preparation, reliability, and quality.

– An understanding of personal/business structures, with strategic plans that combine detailed research with common sense, to support your broader objectives.

– Globally diversified risk-adjusted investment portfolios, accounting for tax implications and adapted if required.

– Clear communication, making the complex seem simple and providing as much detail as needed.

SJP APPROVED 21/06/2023

Pathfinder Private Wealth is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives. Pathfinder Private Wealth is a trading name of Grant Wealth Management Limited