Case Study: How Financial Clarity Transformed a Business Owner's Future

Introduction

At Syndesi, we empower accountants by providing seamless, compliant solutions for managing and tracking referrals. Our platform enhances client relationships, unlocks new revenue streams, and supports sustainable business growth. Below is a case study showcasing how Ian Richard, one of our financial advisors, helped Julia and Mark secure their financial future through a comprehensive life plan.

The Challenge

Julia and Mark, business owners in their late 40s, came to us seeking clarity and direction for their financial future. They were anxious about managing their finances and wanted a plan that would allow them to retire by age 60 while maintaining their current lifestyle.

Despite having multiple pension plans, they didn’t fully understand the differences between defined contribution and defined benefit schemes. Moreover, one of their businesses was paying rent to a third party, and they were interested in leveraging their pension to purchase property as part of their strategy.

The Plan

Ian Richards worked closely with Julia and Mark to develop a tailored financial life plan. This plan focused on their present and future goals, detailing the contributions and returns needed for them to retire at 60. As their situation evolved, so did the plan, allowing them to adapt to new goals—such as purchasing a dream holiday home in Spain.

Ian set up Self-Invested Personal Pensions (SIPPs) for each of them, enabling them to buy commercial property. Their business could now pay rent directly into their pension, creating a tax-efficient solution. Ian also implemented a tax and pension strategy, with Julia contributing an additional ￡150,000 into her pension over the past few years.

The Result

Julia and Mark have described this process as transformational. They now have complete clarity over their finances and feel empowered to make informed decisions. Julia has been able to focus on growing her business, while Mark stepped back from his to improve his health and achieve a better work-life balance.

They continue to enjoy their lifestyle while investing for the future. The SIPP has allowed them to benefit from holding a commercial property and realize corporation tax savings of ￡37,500 through pension contributions at a 25% tax rate. For them, working with Ian has been like gaining the ability to see into the future, offering peace of mind and a secure financial outlook.

Want to connect with financial advisors like Ian Richard and deliver similar value to your clients? Get started with Syndesi today!