1825 updates

Adapting to changing clients' needs

Michael Wall

The world as we knew it has changed over the past few months. All businesses have had to take a long, hard look at how they operate and how they can adjust to what we now know as normal. At 1825 Financial Planning, we have embraced new technology, and this has allowed us to remain open for business and continue to provide an excellent service to our clients and contacts.

 

While the ongoing service to our clients has continued without interruption, there are many people out there who need advice and are unaware of how to go about getting it.

We have noted a few of the enquiries that have been keeping us busy over recent weeks:

  • Employees planning to retire this year who have been impacted by the pandemic. They need professional advice to review their retirement planning to ensure that they are financially still able to stop working.
  • Spouses who must decide on whether to accept pension benefits as part of the matrimonial settlement. This can be quite a daunting process, but with our help, support and advice we can guide them through the process step by step.
  • Clients who have invested funds and have not heard from their adviser since before lockdown began. They are concerned and simply require some reassurance.
  • We recently have had enquiries about Self Invested Personal Pension (SIPP)/ Small Self-Administered Scheme (SSAS) property purchase as a way of generating liquidity for companies and as a tax efficient method of funding directors pensions. Please note, tax rules can change and the value of tax benefits depends on your individual circumstances. This information is based on our understanding in August 2020
  • Prior to lockdown, we were busy running Employee Wellbeing seminars. We have adapted this into a webinar format that gives us an opportunity to make a very informative, yet educational presentation to employees and lets them take a break from the constant newsfeed about the virus. The response from the employees who we have presented to so far has been very positive.
  • In recent weeks, we have also been contacted by employers to provide Redundancy seminars to employees. At such a sensitive time, many people may feel vulnerable so again our role is to help to educate employees by providing information and guidance. Many employees take us up on our offer to have a without obligation initial discussion with one of our financial planners. The feedback from these seminars has also been very positive.

In addition to normal activities, these are some examples of how enquiries and delivering support has changed over the past few months. If you have any clients, be they individuals, trustees or companies who you feel would benefit from support, then please contact your local 1825 financial planner. Alternatively, if this is the first time you will be contacting us please go to www.1825.com/contact-us.