Client Case Study
- Vivian is a 64 year old widow, who intended to work for a further 3 years.
- Vivian had approximately $500,000 in her superannuation fund.
- Vivian was concerned that a lot of her friends had received advice regarding establishing a pension whilst they were working, but she was advised not to.
- She did not receive any regular contact from her financial adviser.
- Vivian was concerned about the performance of her portfolio.
- We thoroughly reviewed Vivian’s situation and as a result of this:
- Recommended that she establish a transition to retirement pension with her accumulated superannuation assets.
- Transferred the administration of her superannuation assets to a product that had identical features but no ongoing commission associated with it.
- Recommended investment changes to the portfolio to ensure that it remained balanced.
- The commencement of a pension is estimated to:
- Save Vivian approximately $2,900 per year in tax.
- This will result in Vivian having increasing her total assets by approximately $9,000 by the time of her retirement.
- The restructure of her superannuation fund will reduce her total annual fees from $4,933 to $3,166, whilst:
- Having superannuation held in an identical structure.
- Providing Vivian with exposure to better investment options.