Retirement and Investment Planning
Chief Olaoluwa is someone who many would consider a ‘typical wealth management client’ AKA ‘HNI’. He is 49 years old and married with grown up children. He has his own engineering firm where he is the 75% shareholder. He has N550m invested with us – but has another N90m invested elsewhere. He is a firm believer in the fact that to maintain your desired lifestyle at the point of retirement, you need to save more than what goes into your mandatory Retirement Savings Account monthly, hence he introduced a “Lifestyle Retirement Scheme” for all the staff in his firm. Chief Olaoluwa had two main concerns when he met us:
Firstly, that his retirement arrangements should be reviewed to maximize his chances of retiring at 60, rather than 65;
Secondly, that the investment policies for the “Lifestyle Retirement Scheme” should be brought up to date and an effective investment strategy be implemented.
We applied our investment and asset allocation methods, coupled with over 53 years’ experience to reduce the risks that the Scheme takes with its investments and increase the income to the Scheme’s Portfolio.
We also restructured Chief Olaoluwa’s retirement arrangements and systemized the asset allocation of the underlying investment to reduce risk and increase his sustainable growth.
Following a comprehensive selection procedure, United Capital Wealth Management was appointed independent financial advisers by the Board of Trustees of the “Lifestyle Retirement Scheme”.
The Engineering firm employs 120 staff and the primary task at that time was to undertake a review of the Lifestyle Retirement Scheme. The background to this was significant staff dissatisfaction with the incumbent adviser, particularly in the supply of information, advice and general customer care. It was also believed that the Lifestyle Retirement Scheme was not providing sufficient return for the employees on their retirement investments.
A thorough review by United Capital Wealth Advisors led their Trustees to accept a recommendation to close the existing scheme and replace it with an improved scheme. Staff were individually interviewed and options discussed. Feedback on this process was first class, with staff receiving a level of information and advice that was unprecedented for them.
The change to the new retirement scheme was a complicated process. However, United Capital guided the Trustees through this process, leading to a smooth transition from the existing scheme to the new scheme.
The Group Life Scheme was also reviewed and improved terms at no extra cost were achieved.
United Capital Wealth Management continues to act as the Firm’s Independent Financial Adviser providing employee/member information and undertaking events on a range of financial topics.
The goal of investment advisory is to help investors manage their money more effectively. However, the spirit behind such advice is education, including educating investors on their investments and how they work. It’s with this purpose in mind that the Private Wealth team at United Capital form “Creating Capital” Community groups. Creating Capital is the Online subscription-based version of United Capital’s Private Wealth services.
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