How good financial planning enables a career change

James Kemp knows how to pace himself. He should do. He’s a keen runner and has been an organiser and participant in Park Runs...

How good financial planning enables a career change

James Kemp knows how to pace himself. He should do. He’s a keen runner and has been an organiser and participant in Park Runs since their early days. However, when it came to saving for his pension he didn’t know whether the pace he’d set would take him through the retirement line comfortably or leave him and his family short of the lifestyle goals he’d targeted.

X

Selling Your Business – It’s Not About Timing

Ernie the entrepreneur wants to retire. Ivor the investor offers him £5 million to buy his business. That’s a whole lot of...

Selling Your Business – It’s Not About Timing

Ernie the entrepreneur wants to retire. Ivor the investor offers him £5 million to buy his business. That’s a whole lot of money to Ernie but he decides to wait just in case he can get a better price from someone else. Next year, Ernie is offered £4 million by Connie the competitor. It’s still a lot of money to Ernie but he wishes he’d taken Ivor’s offer.

If you are trying to time the sale of your business so you get the highest possible price, you are likely to be left in one of two camps: either wondering if you could have got more if you’d waited longer or wishing you’d taken an earlier offer. A simple shift in mind-set could banish these musings.

If you went into the sale of your business knowing exactly how much you needed in order to live the personal lifestyle you desired, the decision would not only be much easier, it would follow the kind of logic on which sound business decisions are made.

When Chris Daniels received an unexpected offer to sell his £25 million turnover import and distribution business, his solicitor sent him to Freedom Financial Planning’s Andy Nevett.

“Over the years I’d had three or four different independent financial advisers but my experience and my feeling towards the whole industry was not very positive.” Said Chris. “I was looking for someone I could trust who would do more than a one off meeting, who would actively manage what would hopefully be some more significant investments.”

Andy and the team at Freedom Financial Planning take a different approach when it comes to managing wealth. Long before there any discussions about their unique approach to actively managing investments, Andy gets to know what is important to his clients, what their dreams are and how they like to live their lives. Knowing this he works out how much money his clients will need to keep this lifestyle for the rest of their lives. He calls this ‘knowing your number’.

Andy explained how he armed Chris with enough information to decide whether the offer he had received was worth taking:

“We worked out the cost of his lifestyle, not just for this year, but next year and the foreseeable future, so that Chris knew his number. Once he knew how much he needed for his lifestyle, for him and his family, he could confidently go away and negotiate the sale of his business.”

After almost 25 years spent building the business, Chris was keen to devote more time to his family, buy a yacht and travel the world. The sale of his business would allow him to do this. However, the decision to sell had to make financial sense too.

“Most business owners do it because they enjoy their business but it comes a point where you want to get away from the desk, want to not have to answer that email at 7 o’clock in the morning or take that call at 9 o’clock at night. But you’ve got to have the confidence that you’ve got the funds to do that and Freedom Financial Planning just gave us that confidence to make that decision.”

If you are looking to sell your business sometime in the next five years, ask Freedom Financial Planning to work out your number, as you never know when you will get an offer. Call Andy and the team on 01663 747000.

X

Video Case Study: Investment Management Process

Using the Freedom FP Investment Management process, as a client, you can benefit from monthly monitoring of your investment...

Video Case Study: Investment Management Process

Using the Freedom FP Investment Management process, as a client, you can benefit from monthly monitoring of your investment portfolios.

This means that if the performance of an individual fund falls below a set criteria, you will receive an email inviting you to switch to an alternative fund. If everything is going well your monthly email will tell you no changes are recommended. The result – peace of mind your wealth is being managed even while you sleep.

Don’t take our word for it. Find out what our clients think by watching this short video:

X

Video: How we manage your investments

Investing should be a simple matter. We use clever technology which removes human emotion from the investment process. We combine...

Video: How we manage your investments

Investing should be a simple matter. We use clever technology which removes human emotion from the investment process. We combine the power of logic and the pure rationality of computer algorithms to investing. Find out more by watching our video…

X

Video Case Study: Pension Planning for Retirement

  How far would you travel to get the answer to a question that could bring forward your retirement, move you into the...

Video Case Study: Pension Planning for Retirement

 

How far would you travel to get the answer to a question that could bring forward your retirement, move you into the perfect home and make possible all the fun things in life you’ve wanted to do for years? Viv Eaden would tell you 200 miles is nothing for this type of advice…

 

X

Video: Final salary pension question – transfer out or stay?

A final salary pension should be the bedrock of your finances in retirement so don’t mess with it, right? Not...

Video: Final salary pension question – transfer out or stay?

A final salary pension should be the bedrock of your finances in retirement so don’t mess with it, right? Not necessarily.

Watch Viv’s story of how she came to a decision.

X

Video: Life’s a journey

Bob was setting out on life’s journey from A to B, thinking he was on top of everything, but we all know it’s not...

Video: Life’s a journey

Bob was setting out on life’s journey from A to B, thinking he was on top of everything, but we all know it’s not that simple. In this video, we take you through some of life’s typical events and decisions that could get in the way and how to stay on track…

X

Video: Do you want to live mortgage free?

When we ask people about their financial plans they often tell us that living mortgage free is one of their main...

Video: Do you want to live mortgage free?

When we ask people about their financial plans they often tell us that living mortgage free is one of their main dreams…

X

Video Testimonial: Mary Harris

Retired deputy head teacher Mary thought she needed inheritance tax planning but when she discussed her hopes and aspirations for...

Video Testimonial: Mary Harris

Retired deputy head teacher Mary thought she needed inheritance tax planning but when she discussed her hopes and aspirations for life in retirement she discovered her needs were far less complicated. See how Mary’s story unfolded in this video.

X

Video: Growing old disgracefully by Edwina Currie

During April, we held our first Independent Thinking Event, ‘Growing Old Disgracefully’, with guest speaker Edwina Currie....

Video: Growing old disgracefully by Edwina Currie

During April, we held our first Independent Thinking Event, ‘Growing Old Disgracefully’, with guest speaker Edwina Currie. Former MP, Edwina Currie, took to the stage to speak animatedly about the media’s failure to represent the 65+ age group and shared personal anecdotes of managing her own mother’s care in later years.

You can view Edwina’s full speech below.

X

Video: Financial Bucket

In just over 5 minutes Nick Heys, one of our financial planners, will explain why financial planning is so important to ensure...

Video: Financial Bucket

In just over 5 minutes Nick Heys, one of our financial planners, will explain why financial planning is so important to ensure you have a happy and financially secure life.

X

Video Case Study: Early Retirement Planning

How to Retire at Age 55 When Jim and Sara met with Nick, their financial planner, Jim gave a ‘throw away’ comment...

Video Case Study: Early Retirement Planning

How to Retire at Age 55

When Jim and Sara met with Nick, their financial planner, Jim gave a ‘throw away’ comment “I’d like to retire at 55”.

To their surprise, Nick took the comment seriously and worked with this professional couple to bring their retirement forward by 10 years. This video tells their story.

X

Video: Business Exit Planning

As a business owner, it is likely that your retirement will need to involve a lot more planning than non-owner retirees. You’ll...

Video: Business Exit Planning

As a business owner, it is likely that your retirement will need to involve a lot more planning than non-owner retirees. You’ll have questions about how to extract wealth from your business, how to ensure business continuity and how to decide on when the best time is to begin your retirement. In this short video, we start to look at some of your likely questions and how we can begin to address them.

 

X

Video Testimonial: Retired Head Teacher

Client testimonial from Rose Harrison, a retired Head Teacher who approached Freedom Financial Planning looking for help and...

Video Testimonial: Retired Head Teacher

Client testimonial from Rose Harrison, a retired Head Teacher who approached Freedom Financial Planning looking for help and guidance.

X

Video Case Study: Divorce and Money

Dealing With Personal Finances After Divorce or Separation During her marriage, Claire’s husband had managed their...

Video Case Study: Divorce and Money

Dealing With Personal Finances After Divorce or Separation

During her marriage, Claire’s husband had managed their finances. Now that she was divorced all the money decisions were down to her. At was at this point she realised she wanted professional advice to make sure she followed the correct path.

This video tells Claire’s story.

 

X

Video Case Study: Financial Planning for Business Owners

Video case study of business owner David Edwards and his experience of financial planning the Freedom Financial...

Video Case Study: Financial Planning for Business Owners

Video case study of business owner David Edwards and his experience of financial planning the Freedom Financial way.

X

Video: The Freedom FP Investment Management Process

Using the Freedom FP Investment Management process, as a Freedom client, you can benefit from monthly monitoring of your...

Video: The Freedom FP Investment Management Process

Using the Freedom FP Investment Management process, as a Freedom client, you can benefit from monthly monitoring of your investment portfolios.

This means that if the performance of an individual fund falls below a set criteria, you will receive an email inviting you to switch to an alternative fund. If everything is going well your monthly email will tell you no changes are recommended. The result –  peace of mind your wealth is being managed even while you sleep.

X

Video: Effective financial planning

    Watch the video below for a quick overview of how our effective financial planning process works....

Video: Effective financial planning

 

 

Watch the video below for a quick overview of how our effective financial planning process works.  

X

Video Case Studies: Planning for Retirement

Video case study of Len Smith. When he was approaching retirement, for the first time in his life, Len decided he should seek...

Video Case Studies: Planning for Retirement

Video case study of Len Smith. When he was approaching retirement, for the first time in his life, Len decided he should seek professional financial advice. Andy Nevett from Freedom Financial Planning guided him through some life defining choices.

 

Freedom financial videosVideo case study of David Morris from New Mills. David found his pension statements confusing and wanted to better understand his retirement options. With help from Nick Heys of Freedom Financial Planning, David and his wife now have a clear vision for the next few years leading up to retirement.

X

Effective Financial Planning – video overview

Nick Heys, one of our Financial Planners, has produced an informative video overview which outlines an effective approach to...

Effective Financial Planning – video overview

Nick Heys, one of our Financial Planners, has produced an informative video overview which outlines an effective approach to financial planning. In just under 5 minutes you can gain insight into exactly why financial planning is so important to ensure you have a happy and financially secure life.

Watch our Financial Planning overview video
X