Owner Managed Businesses
The client in question is a tour operator employing about 50 staff and based in South Manchester.

Cullen Financial Planning were initially introduced to advise on the company’s Group Personal Pension plan. The scheme was with a poor performing provider and the scheme members had not been receiving individual advice. This in turn had led to a lack of understanding amongst the scheme membership of the value of the benefits that the company was providing as part of their remuneration package.

Cullen Financial Planning Limited undertook a review of the market for the scheme providers putting forward a recommendation for change. Significant improvements were gained in both the efficiency of the administration of the scheme for the client, the charging structure for the scheme members and the investment performance of the funds invested.

An annual programme of one to one members meetings was also put in place. This has now been running for four years and has provided a number of crucial benefits.

Individual members have had the opportunity to ensure that their funds are invested in a way that matches their own attitude to risk. Valuations are reviewed with each member annually and projections of benefits to retirement undertaken allowing members the opportunity to access whether their own contributions are adequate.

The client has also found that the awareness of the value of the scheme has increased significantly amongst employees along with the perception and appreciation of other employee benefits such as death in service and income protection that are provided as part of the individual’s remuneration package.

Cullen Financial Planning have also been appointed to look after the personal financial planning affairs of the company directors and owners.

Advice is focused on the unique opportunities available to owner managers to carry out tax effective pension, investment planning and financial protection planning.

In this case a Small Self Administered Pension Scheme (SSAS) has been used to build a portfolio of commercial property including one of the properties from which the company operates. Six monthly meetings are held with the owner manager including the provision of up to date valuations which gives a constant opportunity to access how investments are performing and whether the overall portfolio of products continues to meet the owner manager’s future personal financial aspirations.

This proactive service led approach to financial management provides a disciplined structure within which busy owner managers can ensure that their personal financial aspirations are reviewed and targeted.