The challenge:

Client ‘G’s husband was an existing client of High House Wealth Management, and we had previously advised him on his retirement planning. Tragically, he passed away prematurely, leaving ‘G’ to manage the financial complexities of his estate, including pensions, investments, and life assurance claims. Since her husband had primarily managed the family’s finances, ‘G’ faced not only her emotional grief but this was compounded by uncertainty about her financial future. Her main concern was whether she would have enough money to cover essential expenses and be able to keep her home.

Our Approach:

1. Initial Consultation

I met with ‘G,’ who was supported by her brother-in-law, as he had more financial experience. During the meeting, we discussed her main concerns, with the primary focus being her financial security following her husband’s death.

1. Comprehensive Financial Review

• • As the sole beneficiary of her husband’s estate, I assisted ‘G’ with navigating life assurance claims, pensions, and investments
  • Conducted a detailed cash flow analysis to understand her long-term financial situation.
  • Determined that ‘G’ had enough resources to cover her expenses and maintain her lifestyle, even if she chose to stop working

Action Plan:

• Immediate Stability: Reassured ‘G’ that she could afford to continue her current lifestyle and had the flexibility to stop working if needed.
• Ongoing Adjustments: Provided regular financial reviews to ensure her investments and financial plan remained aligned with her evolving goals and needs.

Outcome:

• After a couple of years, ‘G’ transitioned to part-time work, supported by income from her pensions and investments.
• Eventually, she decided to retire entirely, well before reaching state pension age, with the confidence that her financial plan was robust enough to support her long-term needs.
• The financial advice she received helped provide her financial security while allowing her to focus on rebuilding her life after her bereavement.

Impact of Financial Advice

Bereavement is one of life’s most challenging experiences, and the financial complexities it brings can exacerbate stress during an already emotionally taxing time. By seeking professional financial advice, ‘G’ was able to:

• Reduce the Burden: Expert assistance with estate management* alleviated much of the administrative pressure.
• Gain Clarity and Confidence: A comprehensive financial review provided reassurance about her financial security.
• Focus on Herself: With financial concerns addressed, ‘G’ was able to prioritise her emotional recovery and adapt to life after her loss.

Key Takeaways

High House Wealth Management played a crucial role in supporting ‘G’ through one of the most difficult times of her life. By combining financial expertise with compassionate support, we provided peace of mind and enabled her to make informed decisions about her future.

This case highlights the value of financial advice in navigating complex life transitions, helping to provide security, and empowering clients to move forward with confidence.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.  You may get back less than you invested.

* Estate management may be referred to a service that is separate and distinct to those offered by St. James's Place.

The advice provided to 'G' was given after a full evaluation of her specific needs, circumstances and requirements.  The solutions provided would not be suitable for everyone and do not constitute general advice.