ENTREPRENEURS SEEKING AN EXIT

Jack and Annie had worked for over 20 years to build their business in the oil and gas sector and felt at the age of 55 that they’d taken the business as far as they could.

They’d worked hard – perhaps a little too hard. They decided it was time to pause, recharge their batteries, and reflect on where they were and what they wanted to do next with their lives.

They didn’t necessarily want to retire, but they knew they needed to do something different. They wanted to sell their business, but weren’t sure how much they needed to sell it for in order to secure their future financially. They were also retiring earlier than planned.

They needed someone to guide them through these potentially life-changing decisions. Their current financial adviser had helped them to set up their ISAs and a pension years ago, but they needed something more than a one-off transactional service now – they needed to be able to explore how they could confidently achieve the sale of the business to get to their next phase of life.

Their accountant recommended VWM Wealth

VWM Wealth managing director Ken Welsh met Jack and Annie and spent time finding out more about them. It was clear that we could help them as part of our Thrive WP service.

Ken talked to them both about their lives, what mattered to them, and what their aspirations were. They discovered that their main goals were:

– To maintain their lifestyle for the rest of their lives
– To buy a holiday home overlooking the sea
– To give some of their wealth to their children within their lifetime

Our approach

Ken began by completing an audit of all their existing finances and presented them with a summary of their investments. He then calculated the cost of their annual lifestyle, added the cost of the new holiday home and the amount they wanted to gift to their children.

The outcome

Ken created a detailed plan of how to deliver the financial future Jack and Annie were looking for. This gave them a negotiating target and showed that they could afford to live comfortably and that they had enough money to buy the holiday home of their dreams.

Ken introduced them to a business sale specialist, who worked with their accountant to prepare the business for sale. Once they received the right offer, Jack and Annie were able to retire early and start living their new phase of life.

Ken continues to meet Jack and Annie regularly to ensure their financial plan remains on track.

Contact us to find out how we can help you.

 

Names, as well as any details which could be used to identify, have been changed in order to protect our clients’ identities.