Executive Financial Counselling

This is a service aimed at employees some time in advance of retirement rather than those who may have a specific immediate need for financial advice (e.g. at retirement or on severance) for whom we adopt a slightly different approach. The IAS experience is that where we meet individuals for the first time on a pre-retirement or severance course, often in later life, many have cause to regret some of the financial decisions taken in the past. It is evidently all too easy to buy finacial products which fail an objective cost/benefit analysis.

IAS has designed a broadly based financial advisory service which aims to help your employees to make the right decisions when it comes to planning their insurance, savings, pension and investment requirements.

IAS provides such advice either in a group format (often with the cost sponsored by the employer) or, if preferred, on a one to one basis. Where it is not deemed possible or appropriate for employers to pay for the cost of such advice, an employer may prefer simply to facilitate access to reliable external financial advice for its employees.

A number of companies over recent years have introduced some form of "flexible benefit" remuneration package and one benefit option we have seen included in the menu of potential benefit options, provides an opportunity to obtain professional/independent financial advice of one sort or another. In this way, the employee can decide whether or not to buy into the service.

Our objectives

We aim to provide a service which is accessible, affordable and adds value. To this end, when providing one to one advice, we take steps at the outset to establish that out knowledge and experience is relevant to the needs of the prospective client and if so, that the client understands the scope and limits of our involvement. To ensure that we meet client expectations, IAS always aims to agree set clear objectives prior to acting - there may be circumstances where we feel it is appropriate to recommend the services of other professional advisors (e.g. where complex tax/trust advice is being sought).

Example of Service Delivery

We currently provide the following services to a large energy plc, where IASare the designated external independent advisor. The cost of our services, on a pre-agreed basis, is met by the employer or employee (depending on the circumstances) and covers the following:

• Investment Advisory Service - here, as an example, we might assist employees in planning an effective investment/retirement strategy, making optimum use of tax-free allowances (e.g. Pensions / ISAs), where appropriate. Our precise involvement is determined by what the client wishes us to do and is as detailed, or as basic, as required (and charged for accordingly). Where appropriate, our service can be broader-based, covering mortgage, personal insurance and inheritance tax related advice.
  
  
• Pension Review - this generally involves an overview of an employee's accrued pension benefits, including those benefits relating to previous periods of employment/self-employment. This helps employees take stock of their overall benefit position as well as offering guidance on how to maximize retirement planning opportunities going forward