You have made an enquiry about funding options in later life. You may have heard about some of the options that are open to you. But what exactly is the process behind your Retirement Solutions appointment. What will be discussed and how can you prepare to simplify the process?
Firstly, and above all the appointment will start a discussion which will ultimately end with you understanding exactly what your options are. We find customers benefit most from face-to-face appointments in the comfort of their own homes. There is a lot to cover and it is better doing this sort of thing in a face-to-face environment. That said, we do offer telephone appointments to those that prefer it.
Preparing for your appointment with Retirement Solutions
Your first appointment with one of our advisers is an opportunity for us to work together and discover the right path for your personal circumstances. This is important as everything we do is about making sure your personal circumstances are tailored for. The fact that you have contacted us, already establishes that you are looking for options to generate funds. Whether this is in relation to a property you own or to look at all options available to you. However, following your appointment you may decide to do nothing.
It may be helpful to have a think about the following beforehand:
- What amount of money are you looking to raise
- What you would use the cash for
- What questions you may have
- Collating any paperwork you may have in relation to your financial circumstances
About your first appointment with Retirement Solutions
Your first face-to-face appointment will last around 90 minutes and involves your adviser, getting to know you and gaining a greater understanding of your needs and objectives. This will involve the adviser giving you some background about Retirement Solutions and what we do, as well as explaining all of the options available to you which will include equity release.
The adviser will then complete a fact-find to establish your own personal requirements, which could also include encouraging you to think about alternative options you hadn’t considered before.
The fact-find will include:
- The amount of money you are looking to raise and why
- Understanding your finances and what you would use the cash for
- Your income and expenditure
- Discuss your current and future financial goals
- Looking at alternative ways to achieve your goals
- Talk about your health and lifestyle
- Discuss any estate planning requirements you may have.
- Wills
- Legacy Planning
- Power of Attorney
- Answer any questions you may have
Important to note
- A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
- Equity release will reduce the value of your estate
- Equity release may leave you with limited or no property equity remaining
- Equity release may affect your entitlement to means-tested benefits
- Equity release will reduce your financial options in the future
This information will form the basis of our advice. Your adviser will then explain the options that are open to you and how they can be used to fund your retirement needs. It is important to note that not one solution fits all, and the advice will take a measured look at what can be achieved if anything at all.
If there is a specific retirement solution that you are considering, it may not be right for you, if that is the case we will advise you.
You and any family members who are attending your appointment will be able to ask your Retirement Solutions adviser any questions you may have.
This is all about servicing your needs in retirement, you’re under no obligation to proceed with any single product or solution. And as with what you would expect with confidentiality, all information discussed in your appointment is private and confidential.
What’s next
Your Retirement Solutions adviser will research the whole market for a selection of solutions for you to consider. At every stage you are given key information in a clear and transparent way to help you make any decisions that match your requirements.
A second appointment will be made should both you and the adviser feel that equity release may be a suitable option for you. This appointment will be booked at a time to suit you and you will be given plenty of time to decide when you would like to happen, if at all.
Second appointment
During your second appointment your Retirement Solutions adviser will be able to provide you with a written suitability report, a lender illustration, and any research documentation for you to digest.
Should you decide that you wish to follow through with a specific course of action, your adviser will ask you to complete some paperwork to start the relevant application process.
Why independent advice matters
This is all about you, and your personal financial circumstances. Retirement Solutions advisers are trained to assess your needs and requirements and help you understand what options you have. This is independent from any one company or provider. Meaning we can search the whole of market, to find the right solutions for your circumstances.
The aim is to help you achieve your objectives, having fully understood what the connotations are of your choices and subsequent actions.
Get independent advice
When it comes to choices in retirement, we provide independent advice and nothing else. Our experience tells us that collaborating with our customers through a series of meetings enables us to understand what is important to you.
We represent whole of market advice based on your specific requirements and aim to promote high standard of conduct and practice in the provision of our services.
If you’d like to arrange an appointment, call today on 0800 043 0725 or request a call back.
