Tuesday, 17 January 2017 10:42

Julie Lord: Why cashflow forecasts helped after sudden job loss

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 Gretchen Betts CFPTM Chartered MCSI and Julie Lord CFPTM Chartered FCSI Gretchen Betts CFPTM Chartered MCSI and Julie Lord CFPTM Chartered FCSI

Two leading Financial Planners have explained how using lifetime cashflow forecasts helped a client deal with the sudden financial shock of losing his high flying executive job at 55.

Financial Planners Gretchen Betts CFPTM Chartered MCSI and Julie Lord CFPTM Chartered FCSI, who recently launched Magenta Financial Planning in Wales, have written in the latest Financial Planning Today magazine about their longstanding client 'Mark' (not his real name).

Chartered Financial Planner Ms Lord, former President of the Institute of Financial Planning, explained: “Mark approached us a few months ago with a significant change in his circumstances – he had been made redundant and was negotiating his exit package with his employer.

“It was all happening very quickly and he needed to know what questions to ask – or what to demand - by the next day. The initial offer wasn’t great, considering the years he had worked there.”

Ms Betts said: “As we already knew all about his income, expenditure, assets and plans for the future (this had been updated only 6 months before) we were able to quickly review his lifetime cashflow forecast, confirming he could afford to leave without worrying too much about the quality of redundancy package.

“Mark didn’t want to stop working – despite his lifetime cashflow forecast illustrating that he could afford to. He needed our help to ensure he got a good deal and that the options he chose were the most tax efficient and flexible for their future. He also needed to make sure that he understood the decisions and how these would impact on his and his wife’s short and long term financial position and happiness.”

Find out how Magenta enabled Mark to achieve his goals and move on after his redundancy in the full feature in Financial Planning Today magazine HERE.

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The new publication features exclusive content including contributions from leading figures in the worlds of Financial Planning and Paraplanning plus features and insights produced by experienced financial journalists in London.

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Financial Planning Today's third issue highlights include:

• A Special Report on the great Cashflow Modelling debate, which has got the industry talking

• Columns from PFS chief executive Keith Richards, CISI head of Financial Planning Campbell Edgar and Paraplanner John Redmond

New Investment and DFM section with 180+ DFM providers listed 

• Plus, The Client Hunter, Planner Casebook, Inside My Business with Colin Lawson, Financial Planning and Paraplanning news and much more

Feedback on the new magazine has been excellent with well over 3,000 people reading the first three issues and the number rising steadily. 

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Last modified on Tuesday, 17 January 2017 11:13
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