Every Client is Different.
People are all different. Their characteristics, priorities, personal histories, family circumstances, financial situations and retirement plans all vary.
The recognition of this simple truth underpins our whole philosophy at Reeves Independent and informs the way we work with our clients - treating each individual with deserving and individual attention. To ensure that, we also believe in regular two-way communication between our team and the client.
But how does that work out in practise?
1. Well, let's start a the end.
That is, the end of the tax year.
Tax can take a big chunk out of your hard earned savings, if you take the wrong approach or don't know the rules. On the other hand, if you use the tax system to your advantage, you can boost your pension pot significantly. By planning ahead and taking professional advice, you can minimise the amount of tax you pay, while maximising the income you retain.
So, as spring approaches, our tax planning service should have alerted you to ensure that you're making the most of your tax allowances - that's personal pension allowance; lifetime allowance; ISA allowance; and personal income tax allowance.
Apart from the tax year end, a Reeves client will be advised in their retirement planning through regular reviews of their pensions, savings and requirements. This will involve taking another look at what your retirement needs are, whether your pension and savings are still on target to meet those needs and, if not, what adjustments you need to make.
Before you retire, this review will be done annually, and once you've started to drawdown your pension, it will happen every six months. But, also, you can request a review at any point, if, for example, your circumstances change.
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2. Portfolio Management
When you become a client we agree with you your attitude to, and appetite for, risk and we select a portfolio of investments appropriate to you risk profile. We manage this portfolio actively, adjusting for and anticipating any changes in the market. On top of our daily monitoring, our investment board meets monthly to review our investment strategy in the light of market conditions and, if as a result of that, we think any changes are necessary we contact you for your consent.
3. Keeping you in the picture
At Reeves Independent we believe that managing your pensions is a partnership, a process in which we work closely with you the client, so that you are always involved and informed. To that end, we not only send our Insight publication with articles on important topics, we also hold regular free- to- attend webinars which we have developed to explain and simplify in plain English complex financial concepts.
We want our clients to benefit form our 30 years of experience in the finance industry. We believe that planning a successful retirement shouldn't be a perplexing process beyond the reach of ordinary people.
Finally, every client has a personal account manager whom they can contact at any time.
As one client said: 'I have known my client account manager for around a year now. From the outset, he offered me the greatest of consideration, unravelling the complexities of personal pensions for me. He has always returned information to me in the timescales he has given and has gone through great lengths to assist me in my portfolio. My recommendation of his professionalism and exemplary levels of service is unequivocal'.
It is important that no actions should be taken without first taking advice. Personal circumstances and an individual's appetite for risk means that the advice for one person may not be the same for everyone. The information in this blog or any response to comments should not be regarded as financial advice. Reeves do not advise on Defined Benefit pension schemes. Reeves do introduce a third party specialists in areas of work we do not cover.