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Retirement planning, even when you feel a bit cautious

Francis was coming up to retirement and as a cautious individual knew he needed to take financial advice but was extremely worried about being forced in to investing in to something risky.

Why were you looking for financial advice?

I am a professional engineer, having started work in 1970 as an engineer cadet in the merchant navy and rising to the rank of chief engineer. Ive been retirement planning throughout my career, contributing to either company schemes, private schemes, or both. I am now planning to retire and currently have a final salary pension and state pension as well as a couple of ‘unitised with profit’ policies.  Although giving returns, these policies never performed to my expectations. In June 2018, I thought it prudent to seek out the advice of regulated financial advisers and eventually I chose Unividual. Over the next six months, my wife and I have had several meetings, emails and phone calls with our adviser to discuss options and requirements and undertake a full financial assessment.

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What were you worried about when seeking financial advice?

I am generally very cautious when it comes to financial matters, preferring stable options with a low return, which my adviser pointed out was limiting my options. His assessment of my wife was similarly accurate which meant that we had several options, finally settling on a balanced approach which offered stability alongside the prospect of a reasonable return on my investment. I would emphasise that at no point did we feel pressurised in any way to invest. We settled on investing with a pensions company recommended by Unividual, in September 2018. We are very happy with our decisions. My wife and I were also in the process of selling and purchasing a property, so Unividual also provided constructive advice in this respect. During the financial review, our adviser also noticed that I could have been overpaying tax and advised that I should seek the assistance of a tax accountant, which is currently ongoing and is looking optimistic. In our association with Unividual, we have found them to be extremely courteous, professional and client focused.


Frank, Retiring Engineer, Bristol

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