I was frustrated. I had been running a successful business for many years and I knew that I should have been saving
for my retirement, but I just couldn’t afford it. I needed a strategic plan so my retirement dreams could become a
reality, ensuring my family would be looked after.
I had worked with financial advisers before and I was not
convinced with their skills or ethics. However, when I met
with Warren at Lexington, I was pleasantly surprised. Their
approach to Financial Planning was all about me and my
family - not the sale of products.
Lexington provided me with the support I needed to improve
my business profitability. The team helped me to increase
sales by 2% and negotiated with my suppliers to reduce the
cost of sales by a further 5%. These seemingly small changes
greatly improved our bottom line profitability and I was able
to put extra money towards my pension.
Warren looked at whether these funds could be used to repay
my borrowings early. However, as this was at a favourable
rate, we decided against it. We also considered paying
personal bonuses or dividends, but over the long-term, my
personal tax situation made funding for my retirement
more advantageous.
As part of the planning process, Lexington undertook a
Cashflow analysis, evaluating my income and expenditure
to establish my monthly financial requirements.
Warren took time to really understand my goals, aspirations
and challenges. We now meet annually and have contact
throughout the year to ensure my progress in maintained. I
like to bring my Accountant, who Lexington welcomes,
because he adds great value when business ratios are
discussed.
I feel secure in the knowledge that retirement will be all that I
have dreamt of. Holidays and travel are now affordable and I
take comfort knowing these are factored into my personal
Cashflow. I now run a more tax efficient business and my
pension is set-up in Trust to provide tax free benefits to my
family should I die before retirement.
To speak to a member of our team about your financial affairs,
call 01793 771093 or email [email protected]
We set up a Self Invested Personal Pension (SIPP) with a
sensible asset allocation (mix of investments) weighted
towards more defensive investments. I wanted to preserve my
pension pot rather than grow it aggressively. This suited me,
as I now don’t have to worry about unnecessary investment
risk. I also enjoy that there are no surprises when it comes to
my annual review.
Lexington Wealth Management Ltd. Registered Office: Orchard House, Bagbury Lane, Lydiard Millicent, SN5 4LX.
Registered in England number: 05503144. Authorised and regulated by the Financial Services Authority