Mechanics of investing


Over the years I had invested a substantial amount of money, some of which I managed myself, with the rest looked after by a discretionary portfolio manager. A keen golfer, I wanted to spend more time on the course rather than worrying about whether my investments were suitable for my needs.

I was concerned about market volatility and the impact this would have on the performance of my portfolio. Ideally I wanted to supplement my retirement with income from my investments, however, this didn’t seem very easy to do. I had no idea how the discretionary assets were performing and I found it difficult to keep track of the income payments, manager charges and tax liability on any profits.

“Thanks to Paul and the Sound Financial Planning team, I have made savings of around £5,000 per annum. I feel I am in good hands, and take great comfort knowing I am not exposed to unnecessary risk.”

I met with Paul Spires at Sound Financial Planning. He took time to understand my needs, what was important to me and where I wanted to be. He then reviewed all of my holdings and arrangements, analysing the charges levied by the discretionary manager in light of the investment performance and the levels of risk being taken.

After reviewing the analysis, Paul recommended a more broadly diversified portfolio, better aligned to my risk profile (more cautious and therefore less volatile) and as a result I made an immediate £5,000 saving in management charges. The team also repositioned my investment into a tax efficient structure (tax wrappers), aligned to my short, medium and long term cash flow requirements. The efficiency of the wrappers and lower cost resulted in me making further savings.

Thanks to the Sound Financial Planning team I can spend more time on the golf course. I take great comfort in knowing my investments are managed by a trusted adviser and have peace of mind that my investments are not exposed to unnecessary risks. I am making substantial savings in fees, and my financial plan no longer focuses on short term performance, but rather my long term financial needs.

My financial plan is regularly reviewed to take into account any changes in my circumstances, ensuring I remain on track and protected against the unexpected.