Here at Phillip Bates & Co Financial Services, we are normally too busy working on behalf of our clients to shout about our success stories.
However, I am particularly proud of the results we achieved for one client recently and which demonstrates the value of good advice.
I recently saw a client who had been offered the chance to sell his guaranteed annuity for a one-off cash sum. On the face of it, it appeared to be quite a tempting offer.
But on closer examination, it became apparent that it was far from a good deal. Had he chosen to give up his guaranteed annuity, he would have stood to have lost out on 8 x the amount being offered as a lump sum.
Guaranteed annuity rates were very popular in the 1970s and 80s, offering retirees a fixed income for life.