Managing the financial up and down cycle for wealthy clients
- A long-standing business owner with a high-risk property development business
- Business prepared for sale for a price in excess of £50 million
- The sale fell through, leading to financial problems for the client
- Recommendation to use pension funds to cover liabilities
Client’s circumstances
This client had a long-standing relationship with John Lamb Hill Oldridge Director Paula Steele, who has handled his pensions, investments outside of his business, and inheritance tax planning.
John Lamb Hill Oldridge was involved in helping the client to prepare the business, a high-risk property development firm, for sale in 2007 for a price in excess of £50 million.
Issues addressed
Unfortunately, the sale of the client’s business collapsed with difficult markets and the client had financial problems because of high levels of debt and low cash flow.
Tailored solution provided by John Lamb Hill Oldridge
John Lamb Hill Oldridge assisted by helping him withdraw all funds from his pension fund. Because of significant losses in his business, there was no tax to pay. The company also supported him and his wife through a very difficult time.
The client managed to turn the business around and this year will return to significant profit. John Lamb Hill Oldridge has also now acquired his wife and two children as clients.
This case study demonstrates how having a long-standing relationship with a client can enable John Lamb Hill Oldridge to offer timely advice to prevent financial problems from escalating, as well as providing peace of mind for our clients during difficult times.
