At Brighter Financial Services Ltd our position is clear and simple—we want to help you make the most of your money, by guiding you in the development of a financial plan. If products are discussed as part of that plan, we will explain them to you in a language that you understand so that you can make informed choices about how you invest your hard- earned money.
We help all sorts of people, those with investments and pensions and those without, as-well as those just looking for a bit of advice.
Meet Brian. Brian has a bit of money in the bank and plans to pay off his mortgage before retirement. But his house has not increased in value as he expected and having just enrolled in the Company pension scheme he is now thinking that he would like to get all his affairs in order.
Brian decides to look into pensions and gathers up some information
“There is so much choice-Where do I start? Let’s look at a simple personal pension” Brian thought.
“A personal pension portfolio gives you the opportunity to exercise choice on the journey to your retirement destination. You'll need to decide how much you can feasibly afford to contribute, and how much risk you're prepared to take...(“Eh? What risks?” thought Brian. “I don’t want to take any risks. What does this mean?”)
Still reading…….“you may also want to think about what circumstances may change your attitude to risk and what other types of risks may affect your retirement provision. It is always best to seek financial advice on such matters.......” (“Oh here we go” snorted Brian “it’s just a means of them making money.”)
He slams the brochure down on the table “this is far too difficult” he thought. “Anyway I am now in the Company scheme. That’ll do.”
Brian has his mind changed—a little……..
Later, Brian asks his deputy if he has a pension. “Yes” said Rich—“had one since I was 18 years old”.
“Well you don’t need that now then do you Rich, as there’s a company scheme in place!” scoffed Brian
Rich was quick to respond “I do. My Mum had to go on working a long time past when she wanted to finish as she couldn’t afford to stop, even though she was in the Company pension scheme. She had severe arthritis and was in pain all the time” he said sadly
“Best to understand what both a personal pension and a company scheme have to offer, I suppose, to make sure you have enough to stop work if you really have to.”
Brian goes away thinking. Eventually he decides to take some financial advice to see what is best for him.
Brian meets with a financial adviser
The adviser meets with Brian and advises “As you have a company scheme starting up, I will look into the details of this before advising you further on a personal pension. I want to give you the confidence that you have the right plans in place so that you have the chance of retiring or taking your pension, when you wish.”
The adviser clearly and simply explains attitude to risk to Brian and looks at his current financial position. He takes his time understanding Brian’s needs and considers his circumstances in the round.
“Well I really didn’t think I needed an adviser before, but I am pleased I met with this one. It has straightened a few things out for me and I am now much clearer.”
“Yes, really nothing to be worried about at all” he said, sighing with relief.