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Client case study - attended one of our investment seminars

Client profile

Mr and Mrs C attended one of our investment seminars.

At that time, Mr and Mrs C were both retired. Mr C was 63 years old and Mrs C was 60 years old. Mr C is a retired Senior Engineer from a medium sized company. Mrs C is a housewife. They have 3 adult, non-dependent offspring and grandchildren.

Mr C had an occupational pension of £40,000 and he was eligible to receive a State pension at retirement age. Mrs C was already in receipt of a State pension of around £2,500 pa and she would receive 2/3 of her husband's pension if he were to die first.

Investment objective

Their objective when they attended our seminar was to sell their house and downsize, looking at the possibility of investments providing top-up income if necessary. They own their house outright and it was valued at £500,000.

Mr and Mrs C had a conservative and quite risk-averse attitude to investment. They wished to maintain and slightly grow the value of their investments with a view to preserving them in the eventuality that care should be required in later life or to top-up income if Mr C's company pension fails them.

Investment

Their investments when they attended the seminar were:

£70,000 cash and cash ISAs
£30,000 Premium Bonds
£50,000 shares from Mr C's employer share schemes
£120,000 investments or Unit Trusts some wrapped in PEPs and ISAs

Mr and Mrs C became clients and they transferred all of their investments, Unit Trusts and Mr C's employer share scheme shares into our discretionary management service. By investing with us they wanted to remove the responsibility and the administrative burden of continuing to manage these investments themselves.

Client's experience
After attending our seminar, Mr C was impressed with the following:

• That with Close Wealth, he could adequately diversify investments under one roof - consolidation for ease of administration
• Competitive fees
• A dedicated personal adviser
• We provided the ability to prepare tax returns if required and calculate any CGT liabilities prior to transfer
• "Free" advice on all aspects of investment
• Transparency of our service and fees
• Some uniformity of portfolios across the board - adds a perception of safety - whilst investing directly

Mr and Mrs C have now been clients for over 5 years. They have told us that they like what we offer and stay with us because they like our personal, flexible service and the ability to receive advice on all aspects of their investments at no additional charge. They like how we communicate with them via our investment reports and newsletters. Whilst their investments are held with the objective of providing growth, they know that they can switch to an income paying investment strategy if required. They also believe in our reputation.