Neil was frustrated at the low level of investment returns his pension investments were generating and the high level of fees that he was paying. initial meeting notes, recorded the following comment “barely sufficient return on some components of our current super funds”.
The superannuation investments that Neil and Dorothy had been placed into were all managed funds. This investment structure did not provide a good level of transparency for Neil or Dorothy to understand the level cash flow generated by the portfolio on a month-by-month basis.
Unfortunately, about a year after we first met, Neil passed away. Up until that point, Dorothy had always left financial decisions to Neil and so his loss left her needing to pick up and manage the finances a role and a responsibility that she was most unfamiliar with at the time.
With Neil’s passing, we needed to help Dorothy understand how the investment structures worked and their purpose. Most importantly, Dorothy needed people who she could absolutely trust with her best interest to help her manage.
We also strongly encouraged Dorothy’s family to become involved in the investment and financial planning aspects of Dorothy’s arrangements. It was clearly important for Dorothy to have close family looking at and reviewing decisions.
We have built and maintained a very close relationship with Dorothy and her family over the years. In Dorothy’s words, “she never worries about money or the portfolio because that is what she has us for”.
We are very proud of how we have been able to help Dorothy navigate major changes in her life and deliver the financial continuity and consistency that was required.