Retirement planning

Retirement planning with Wood Kirkbride will allow you to take an important step toward a comfortable and secure retirement.

Our experienced financial advisers will work with you to identify your retirement needs and goals, and then develop a financial plan to achieve them.

As part of our retirement planning service, we will perform a full assessment of your current financial situation and future financial plans, including pensions, investments, tax and estate planning.

Based on our findings, we will advise you on the products and services most likely to help you achieve your retirement goals.

As independent financial advisers, you can be confident that our retirement planning advice is completely impartial and that our recommendations are solely focused on your best interests.

What we offer for your retirement planning

At Wood Kirkbride Independent Financial Advisers (IFAs) we offer a comprehensive suite of services to help you plan for retirement.

We will initially create a personalised financial plan that aligns with your retirement goals, taking into account your current financial situation and future aspirations.

This is done by the use of our third party software cash flow planning tool (Dynamic Planner) which allows us to set what income you need and when, and then establish what your current provision will offer and illustrate any remedial action needed to achieve your desired income.

We will also assess the level of risk you can tolerate by using a Risk Profiling Questionnaire and revisit this each year. The pension investments we recommend and advise upon have been rigorously researched and form the basis of our investment approach for existing and new clients.

We can also provide regular reviews of your retirement plan to ensure it remains on track and make adjustments as needed due to changes in your life circumstances, tax changes, legislative changes or financial markets.

Retirement planning - what happens next?

When you work with Wood Kirkbride, we will take the time to understand your needs, goals and preferences before we make any recommendations – this is the process we follow:

Your initial contact

We will discuss your reasons for making contact and arrange a convenient time and place to meet with one of our team of experienced retirement planning advisers. This can be either at your home or our office.

Your initial meeting

We do not charge a fee at this first meeting, as we would like to understand what you are looking to achieve. If there is anything you want to discuss, your initial meeting with your retirement planning adviser is the perfect time to consider these other areas.

Your adviser will assess your assets and liabilities, discuss your objectives and priorities, and as part of this process we consider establishing your attitude to risk as vitally important if considering investment or pension planning.

Preparing our recommendations

Using the information they obtain from you during your initial meeting, your retirement planning adviser will develop a detailed financial plan and then examine whether this plan will meet your retirement plans.

They will research the market, review different products and providers, and follow up with the preparation of a document tailored to your individual retirement goals and circumstances.

Discussing our recommendations

Your adviser will take you through their recommendations in detail, explaining why they’ve chosen specific solutions and outline product features.

At Wood Kirkbride, our goal is to ensure you understand why we have recommended certain products or a particular advice strategy.

As independent financial advisers, we are not tied to any specific financial products or companies, therefore you can be confident that our financial advice is completely impartial.

We’ll also discuss with you the cost of any future work, which will be determined by the frequency and type of ongoing service you require from us.

Implementing your retirement plan

Your retirement planning adviser will make sure that all the recommendations to which you’ve agreed have been implemented, with all the necessary product paperwork completed and processed.

They will also liaise with your accountant or solicitor if appropriate.

Reviewing your plans

You’ll decide and we’ll confirm how often you want to review your plans. The frequency and level of contact you have with us is up to you. This can done via face-to-face meetings, video link, telephone discussions, or email.

We will also need to know about any life-changing events that may affect your finances and will require you to assess your retirement planning strategy, such as: