Pro­fes­sional team­work

Ex­perts from dif­fer­ent pro­fes­sions work­ing to­gether says Derek Bap­tist, a char­tered Fi­nan­cial Plan­ner, can pro­vide ex­cel­lent client out­comes

Cheshire Life - - Family Life -

Ihave spent most of my ca­reer as an In­de­pen­dent Fi­nan­cial Ad­viser work­ing with so­lic­i­tors and ac­coun­tants, as well as other pro­fes­sion­als, to pro­vide pro­fes­sional im­par­tial fi­nan­cial ad­vice to their clients.

One case I worked on was an in­tro­duc­tion from a solic­i­tor whose clients had sold their busi­ness.

We will call them Chris and Julie and they had built up a sub­stan­tial busi­ness and were about to re­tire.

The solic­i­tor con­tacted me re­gard­ing a tricky sit­u­a­tion with Chris and Julie’s com­pany pen­sion scheme. Their Fi­nan­cial Ad­viser had ex­plained to them, and the solic­i­tor, that they should trans­fer their pen­sions to a dif­fer­ent ar­range­ment af­ter the sale of the com­pany.

The solic­i­tor com­pleted the sale, but be­fore com­ple­tion both Chris and Julie reached the nor­mal re­tire­ment age for their pen­sions. The Fi­nan­cial Ad­viser was not a pen­sion ex­pert and did not fully con­sider the po­ten­tial pit­falls.

Fol­low­ing the busi­ness sale, the re­la­tion­ship be­tween Chris and Julie and the new owner de­te­ri­o­rated. The solic­i­tor in­formed Chris and Julie that the new own­ers were now the new Spon­sor­ing Em­ployer for their pen­sion and were putting ob­sta­cles in the way of Chris and Julie’s trans­fer. Chris and Julie were deeply un­happy about this and de­cided to get ad­vice from a pen­sion ex­pert.

At this point, I was in­tro­duced to

Chris and Julie and I found out they had set up a Cricket Club for the ben­e­fit of lo­cal res­i­dents. As the club was a lim­ited com­pany, work­ing with a Con­sult­ing Ac­tu­ary we made the Cricket Club the Spon­sor­ing Em­ployer of Chris and Julie’s pen­sion scheme, which gave them back con­trol of their re­tire­ment.

As their pen­sions in­cluded en­hanced tax-free cash as an ad­di­tional ben­e­fit, it made per­fect sense to keep their pen­sions where they were.

As this case study shows, the ben­e­fit of pro­fes­sion­als, with ex­per­tise in their re­spec­tive ar­eas, work­ing to­gether can lead to ex­cel­lent client out­comes.


Char­tered Fi­nan­cial Plan­ner and Man­ag­ing Direc­tor for Per­spec­tive (Mid­lands and Cheshire) Ltd. Rec­og­nized Ex­pert Wit­ness by the Court in Mat­ri­mo­nial Mat­ters. derek.bap­

Derek Bap­tist

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