THE SCENARIO
Sudden wealth
Tyler is a professional footballer who is in his late-twenties and is at the peak of his earning potential. Tyler earns a significant amount playing a sport that he loves and has amassed the trappings of a professional sportsman – a large house, a sports car and being in a position to help friends and family financially. Tyler has recently got engaged and he and his fiancée are looking forward to settling down and starting a family.
Their goal:
Tyler understands that his career at the top level may only last a few more years and wants to ensure that, when his playing days are over, he has a significant financial cushion so that he and his family can be financially comfortable whilst they consider their future work plans. They would also like their future children to be privately educated. Tyler has seen friends and colleagues lose significant amounts investing in various esoteric investment schemes and is wary of advisers promising large investment returns.
How can we help?
We provided Tyler and his fiancée with a financial plan which, based on their accumulated capital to date and their income and expenditure, showed that they would be financially comfortable for the rest of their lives. We were able to model a school fees planning strategy and help them set aside a pool of capital for this eventuality. We also put in place an investment strategy taking into account their risk profile which did not take excessive risk. We also worked with their other professional advisers to ensure that their investments were invested as tax efficiently as possible. Whilst Tyler focused on his playing career and the pressures that came with it, we were able to provide reassurance that his finances were being managed appropriately and in his long term best interests.
Ongoing support
By annually reviewing their financial plan and investment portfolio we can take into account any future work plans to ensure that their lifestyle goals can continue to be met once Tyler’s football career comes to an end.
Disclaimer – this is a hypothetical client example and does not constitute a formal recommendation.