Case profile: The investment banker

Background

Mr Client aged 30, Investment Banker in London

Income £330,000 p.a. (£80,000 basic and £250,000 annual bonus).

Background

• Client wanted to pay off his mortgage within 5-10 years
• $250,000 in dollars in American Bank. How to invest without moving to sterling
• Investment strategy required for cash, pension and ISAs
• Personal protection required
• Required mortgage advice to purchase unorthodox property
• How to spend/ invest bonus monies?

Challenges

• Set up off shore bond to invest $250,000 into it, but invested in dollar-denominated funds therefore not requiring the monies to be changed back into sterling first
• Remortgaged residential home for £400,000 using a flexible mortgage with draw down facility of £100,000 – deposit for BTL property. This product also allows unlimited overpayments, with no lock in at any time
• Critical Illness policy and PHI/Income Protection taken out
• ISA & Pension set up, together with regular payments
• Suggestions given for bonus monies – pay down mortgage, invest in Unit Trusts, ISAs, Pensions and Cash to supplement monthly income requirements

What we did

• US Dollars invested in suitable vehicle as per risk profile to get best rate of return
• Fully flexible and appropriate mortgage, plus strategy in place to pay down
• Regular savings strategy in place
• Relevant protection in place to cover loss of income

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NB: This is an example case history only and is not intended to represent any specific individual or their situation. Its purpose is solely to give you an idea how financial planning could work in a given set of circumstances. We always aim to keep things simple, but should you have any questions relating to the case study above, please feel free to contact your financial planner at Wealth Matters as per the details given on our contacts page.