Financial Planning Client Summary

Transcription

1 Financial Planning Client Summary Name: Mrs. & Mr. Agenda: Plan for Retirement At Retirement Estate Planning Savings & Investments Long Term Care Lifestyle Protection Mortgage Protection Factfind For: Client Partner Joint Face to Face Meeting All Clients Present Anyone else present Name of anyone not present was only present at third meeting 22/08/2017and not first two meetings as out of country on work, friend at second meeting - on her own first meeting SCDD / TOB Version Number: 4.2 Date Given to Client: 13 Jul 2017 Date of Fact Find meeting: 13 Jul 2017 Do you wish to record the client's income and expenditure in full or in summary? In Summary Case Adviser: Page 1 of 26 23/08/2017 at 15:02

2 Personal Details Client Partner Title (Mr/Mrs/Miss/Ms/Other) Mrs. Mr. Forename Middle Name Surname Preferred Name Maiden Name Date of Name Change Date of Birth Gender (tick) Male Female Male Female National Insurance Number Nationality British British Country of Residence United Kingdom United Kingdom Marital Status Married/ Civil Partnership Married/ Civil Partnership Relationship to other client Wife Smoker (tick) Yes No Yes No Does the client consider themselves to be in good health? Yes No Yes No If not, why not? State Retirement Age Planned Retirement Age Dependants/Children Do you have any dependants? Yes No Page 2 of 26 23/08/2017 at 15:02

3 Address and Contact Details Client Addresses Current Address Type (tick one) Residential Business Postal Registered Status Owner Owner Occupied Rental Living with Parents Leased Other House Name/No Street Name Town County Country United Kingdom Postcode Have you lived at this address for more than 3 years? Yes No Preferred Marketing Preference Opt In Opt Out Unknown Notes Contact Details Type Number/ Address Preferred (tick) Mobile Phone Marketing Preference Opt Out Notes Home Phone Opt Out Home Opt Out Page 3 of 26 23/08/2017 at 15:02

4 Partner Addresses Current Address Type (tick one) Residential Business Postal Registered Status Owner Owner Occupied Rental Living with Parents Leased Other House Name/No Street Name Town County Country United Kingdom Postcode Have you lived at this address for more than 3 years? Yes No Preferred Marketing Preference Opt In Opt Out Unknown Notes Contact Details Type Number/ Address Preferred (tick) Marketing Preference Notes Page 4 of 26 23/08/2017 at 15:02

5 Employments Main Occupation Client Partner Status Employed Contractor Employed Contractor Self-Employed Agency Self-Employed Agency Unemployed Student Unemployed Student Retired Housewife/ husband Retired Housewife/ husband Voluntary Voluntary Type Full Time Part Time Full Time Part Time Occupation Administrator - office Engineer - offshore Main Occupation Yes No Yes No On Probation Yes No Yes No Probation End Date Employer Name Employer Building Name/No. Employer Street Name Employer Town Employer County Employer Country United Kingdom United Kingdom Employer Postcode Employer Phone Start Date End Date Business Name Date Business Established Date Ownership Commenced Nature of Business Sole-trader, Partnership or LLP? Page 5 of 26 23/08/2017 at 15:02

6 Existing Arrangements Estate Planning Client Partner Does the client have an up to date will? Yes No Yes No Will intentions Date of Will Has the client ever been widowed? Yes No Yes No What percentage of the Nil Rate Band was used? Have the client(s) made any gifts or set up ant trusts? Yes No % % Lifetime Gifts History No Gifts Made Page 6 of 26 23/08/2017 at 15:02

7 Existing Arrangements - Protection Policies Page 7 of 26 23/08/2017 at 15:02

8 Existing Arrangements - Medical Insurance Policies Page 8 of 26 23/08/2017 at 15:02

9 Existing Arrangements - Accident, Sickness or Unemployment Policies Page 9 of 26 23/08/2017 at 15:02

10 Existing Arrangements - Building and Contents Policies Page 10 of 26 23/08/2017 at 15:02

11 Existing Arrangements Pensions (Client) Does the Employer offer a pension scheme? Yes No Is the client eligible for company pension scheme? Yes No Does the Employer / Scheme offer matching contributions? Yes No Has the client joined company pension scheme? Yes No If client has not joined, then why? overseas work Does the client have any Protected Lifetime Allowance? Yes No If yes, provide details of amounts Projected Annual State Pension Amount 5,200 Pension Arrangements Page 11 of 26 23/08/2017 at 15:02

12 Existing Arrangements Pensions (Partner) Does the Employer offer a pension scheme? Yes No Is the client eligible for company pension scheme? Yes No Does the Employer / Scheme offer matching contributions? Yes No Has the client joined company pension scheme? Yes No If client has not joined, then why? Does the client have any Protected Lifetime Allowance? Yes No If yes, provide details of amounts Projected Annual State Pension Amount 8,112 Page 12 of 26 23/08/2017 at 15:02

13 Pension Arrangements Policy Type Defined Benefits (Final Salary) Policy Number Platform No Platform Provider Product Provider Other Description current pension Platform Wrap No SIPP Wrapper No Fund Value 0.00 Accrual Rate Recommended Value 0 Pensionable Salary 0 Contribution / Benefit Type Defined Benefit Pension Type Status Active Inception Date Normal Retirement Date 13 Oct 2024 Scheme Requirement Age 65 Employee Contribution Frequency Gross Amount OR Percent Employer Contribution Frequency Gross Amount OR Percent Scheme / Plan Owner Salary Sacrifice OR Percent Leaving / Paid Up Date Extra Years? Years Purchased Years Projected Waiver No Deferment Period (months) Payment Method Initial/Transfer Value 0.00 Comments recently had valuation - 500k for transfer based on 27 DB pension at age 65 approx. this will be main income secured in retirement - still accruing benefits Beneficiaries Name Percentage Type In Trust Divorce or Court Order Funds No Portfolio Accounts are linked to this Retirement Fund. Page 13 of 26 23/08/2017 at 15:02

14 Existing Arrangements Savings and Investments Type Investments Sub-Type Bank Account/ Savings Account Status Existing Provider Platform No Platform Provider Account/Client Number Policy Number Description Contribution 0.00 Frequency Monthly Start Date Purchase Date Cost 0 Initial Value 0 Current Value 45, Valuation Date Owners In Trust Offshore Values Last Updated Income Produced Amount Frequency Start / End Dates Future Amount 0.00 Comments Source of Funds Country of origin of funds being used various accounts and did not want to go into detail as did not see relevance to fact find for pension Savings United Kingdom Page 14 of 26 23/08/2017 at 15:02

15 Property & Assets Type Property & Land Sub-Type Buy to Let Status Existing Long Term Care No Description Flat in -student let Purchase Date Recommended Value 60,000 Cost 0 Initial Value 0 Current Value 60,000 Valuation Date Owners In Trust Values Last Updated Income Produced Fixed Amount Amount 5,250 Frequency Annually Start / End Dates Future Amount 0.00 Linked Liabilities Legal Type of Title Leasehold Property Type Bungalow Comments held in name only - rental of 5250 based on full rental and does not cater for voids - will keep as very high yield Source of Funds Country of origin of funds being used Savings United Kingdom Page 15 of 26 23/08/2017 at 15:02

16 Type Property & Land Sub-Type Main Residence Status Existing Long Term Care No Description Home in UK Purchase Date Recommended Value 0 Cost 0 Initial Value 0 Current Value 160,000 Valuation Date Owners % % In Trust Values Last Updated Income Produced Amount Frequency Start / End Dates Future Amount 0.00 Linked Liabilities Legal Type of Title Freehold Property Type Semi Detached House Comments Source of Funds Savings Page 16 of 26 23/08/2017 at 15:02

17 Country of origin of funds being used United Kingdom Type Property & Land Sub-Type Buy to Let Status Existing Long Term Care No Description flat rented by parents Purchase Date Recommended Value 0 Cost 0 Initial Value 0 Current Value 100,000 Valuation Date Owners In Trust No Values Last Updated Income Produced Amount Frequency Start / End Dates Future Amount 0.00 Linked Liabilities Legal Type of Title Leasehold Property Type Flat Comments peppercorn rent - parents live here, father is elderly and suffering with cancer, unsure on long term, may rent out for income or sell Source of Funds Country of origin of funds being used Savings United Kingdom Page 17 of 26 23/08/2017 at 15:02

18 Type Property & Land Sub-Type Holiday Residence Status Existing Long Term Care No Description villa turkey Purchase Date Recommended Value 0 Cost 0 Initial Value 0 Current Value 100,000 Valuation Date Owners % % In Trust Values Last Updated Income Produced Amount Frequency Start / End Dates Future Amount 0.00 Linked Liabilities Legal Type of Title Property Type Detached House Comments Source of Funds Country of origin of funds being used intend to keep and use as residence in winter as located on golf courses and weather warmer in winter - no income Savings United Kingdom Page 18 of 26 23/08/2017 at 15:02

19 Mortgages & Long Term Debt Page 19 of 26 23/08/2017 at 15:02

20 Credit Cards & Short Term Debt Page 20 of 26 23/08/2017 at 15:02

21 Income and Expenditure Summary Monthly Income Client Partner Net Monthly Income 7, Monthly Expenditure Client Partner Mortgage and Home Lifestyle 1, , Travel Borrowing and Debts Day to Day Expenses TOTAL 2, , Page 21 of 26 23/08/2017 at 15:02

22 Potential Changes Are there any anticipated significant changes in income in the foreseeable future? Yes No Details Are there any anticipated changes in expenditure in the foreseeable future? Yes No Details Is the client likely to receive a capital lump sum in the foreseeable future? Yes No How much? When? Details Notes Page 22 of 26 23/08/2017 at 15:02

23 Other Information Client Partner Has the client utilised any of their CGT allowance this tax year? Yes No Yes No How much? Is the client concerned about the effects of inflation? Yes No Yes No Details wants to ensure any cash / pensions would keep pace with inflation and grow in real terms - short term no issues as surplus income and don't "feel the pinch" if cost of living rises so happy to take risk now and look to reduce in later years if feel the need. Has the client cancelled, lapsed, surrendered or made paid up any policies within the past 6 months? Yes No Yes No Details Has the client invested in a cash or equity NISA in the current tax year? Yes No Yes No Cash Amount Equity Amount Does the client have an emergency fund? Yes No Yes No How Much 45,000 45,000 Where held? held on current accs in Uk - more than enough, surplus income from work and no plans to invest - this held in current accs UK - Does the client feel that the emergency fund in sufficient? Yes No Yes No If no, How much is required? Does the client have any previous knowledge or experience of Financial Services or Investments? Does the client have any previous knowledge or experience of Financial Services or Investments? Yes No Yes No worked for Bank between 1977 and years and not financial adviser but went through training and has understanding but rusty - not CF fuinction Page 23 of 26 23/08/2017 at 15:02

24 Goals & Objectives Goal 1 Owner Client Advice Type Retirement Category Take an Income in Retirement Description Tax efficient use of pension funds in retirement and move to PP from DB Capital or Income? Income Target Date 8 Oct 2017 Target Amount 7,812 Income Frequency Annually Income Increase? None Anticipated Change in Future Income? Yes Income Change Details Capture Date 11 Aug 2017 What is the Risk Profile for this Objective? Why is this ATR profile appropriate for this objective? Record how the client's capacity for loss has been considered in respect of this objective. Further information about this Objective clients have a secure income base in retirement - see below from pension and they also have a couple of properties that do not produce income at present that could in future or be sold to produce income - no need for excessive risk and would like inflation type returns + if possible without too much risk as not regular investors - can see themselves invested until end of life age 80 + with this fund will have over 38k of secure pension income, plus state pension = 43k secure income plus rental income + this arrangement plus income from a property currently let to parents, they are risking around 7k of income from at NRA and moving to drawdown = 15% of pension income in this transaction ie moving from secure to flexi so very small overall risk - acceptable risk and plans to take modest income and risk and see as flexi arrangements look for income age 60 and not needed next 2 years as have good income Initial Investment 0 Regular Saving 0 Status Unfulfilled Priority Regular Saving Frequency Regular Savings Start Date Regular Savings End Date Access to Capital Yes Guarantee Required No Minimum Term of Objective 99 What would the client like to happen to the capital if they were to die? pass to husband or bypass husband if not needed and pass to children - son and daughter non financially dependent Page 24 of 26 23/08/2017 at 15:02

25 Fact Find Notes see separate document note for summary Page 25 of 26 23/08/2017 at 15:02

26 Declaration Please read and check this entire form before signing. The information provided will be treated in the strictest confidence and used to make recommendations in relation to your financial goals. It may or may not be held on computer for future marketing purposes. Additional information, in the form of identification documents, may be required to allow the Financial Adviser to comply with current regulations. I understand that the recommendations will be based solely on the information given in this review (including any Additional information overleaf) and any supplementary questionnaire(s). I have also received the initial disclosure document, terms of business letter, data protection statement and business card from my financial adviser. Signature Signature Print Name Date Print Name Date Page 26 of 26 23/08/2017 at 15:02