How financial protection helps to secure your future — even when the unexpected happens

[DRAFT — The wording of this client story is not final and has not yet been approved as a financial promotion.]

Paul Byles, Strategic Consultant and Chief Paraplanning Officer at Arkana, has advised high-net-worth clients for nearly 30 years, helping them build and preserve their wealth. A passionate advocate for holistic financial planning, he is an integral part of the Arkana team and works closely with MD Ammer — a relationship that spans many years. At Arkana we aim to help individual clients and families to achieve greater confidence in their financial freedom, whatever life throws at them.

Recently, we helped a couple a few years away from state pension age to realise they could retire early and enjoy the wealth built over a lifetime of careful planning.

With over £1m invested in pensions, our clients were on track for a comfortable retirement once they reached state pension age. But a combination of a serious illness, swiftly followed by a redundancy, could have shaken their confidence in their ability to achieve their retirement objectives.

Instead, the opposite happened. With the Critical Illness cover that we helped them put in place, they realised that not only did they not have to worry about one partner job-seeking while the other had medical treatment, but they could both retire early and kick-start their plans for the future.

Paul says: “Obviously the diagnosis of a serious illness is traumatic, and emotions run high. What you don’t need when this happens is to have to worry about money — either immediately or in the future. With sensible financial planning provided by Arkana, our clients protected their family, and their future, taking the pressure off during a difficult time.”

With the Critical Illness funds received, we talked our clients through their updated lifetime cash-flow plan, showing them that this, combined with their existing investments, would allow them to still retire with absolute confidence.

Later, following a full recovery, we helped them to move on with their retirement plans, downsizing in the UK and buying a place in the sun.

Our experience and knowledge enabled our clients to navigate the unfamiliar overseas property system, ensuring that funds were in the right place at the right time.

Other members of the family have also trusted our advice, which opened the door to some multi-generational planning — allowing us to advise them on the most tax-efficient decisions in terms of gifting money and drawing down pension funds. And our advice has also enabled them to put in place a Life Assurance policy to cover future Inheritance Tax (IHT) liabilities.

“When there are limited liquid assets other than a pension fund, and wealth is tied up in property, an unexpected life event can feel daunting,” finishes Paul. “But with the appropriate financial protections in place, you can relax, knowing that you and your family are financially secure.”

To secure your family’s financial future and approach retirement with confidence, contact the team here at Arkana.

What this does not do

This client story is general information, not personal advice. What is right for you depends on your own circumstances, and we would need to understand those before making any recommendation.

The value of investments and the income from them can go down as well as up and you may get back less than you invested. Past performance is not a guide to future performance.