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Ensuring that you can afford the retirement lifestyle you want is one of lifes main financial objectives. However, the increasingly complex nature of pensions legislation has left many facing tough decisions. Whilst some may struggle to secure the retirement they want, there are significant rewards for prudent planning. Making important financial decisions can often be a daunting prospect, even for the most experienced of us. Understanding how and when to make these decisions can be even harder. Pension Freedom legislation gives you more choice than ever over how you take your pension benefits. However with that comes complexity. Financial advice from a trusted expert can be invaluable in helping you to make these decisions, ensuring you are not left disappointed by insufficient or unexpected income levels in retirement. Helping clients to achieve their financial goals is something that we at Mercer Jelf Financial Planning (MJFP) are passionate about. Through your employer, you will be able to access a wide range of resources to help you with your key pension decisions. However, these alone will not be enough to secure a suitable outcome for everyone; especially those who have a diverse range of pension assets and/or complex planning needs. We offer a range of advised services designed to help you achieve your retirement planning goals. Through these services we will highlight the key considerations and provide you with recommendations so you can take the most appropriate action. You can then be confident of achieving the retirement you want. MERCER JELF FINANCIAL PLANNING Advised Pension Services
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Page 1: MERCER JELF FINANCIAL PLANNINGpensiononline.info/ifaservices.pdfIn his own words he has a ‘peculiar fascination’ for pensions, and works hard with individuals to demystify the

Ensuring that you can afford the retirement lifestyle you want is one of life’s main

financial objectives. However, the increasingly complex nature of pensions

legislation has left many facing tough decisions. Whilst some may struggle to

secure the retirement they want, there are significant rewards for prudent planning.

Making important financial decisions can often be

a daunting prospect, even for the most

experienced of us. Understanding how and when

to make these decisions can be even harder.

Pension Freedom legislation gives you more

choice than ever over how you take your pension

benefits. However with that comes complexity.

Financial advice from a trusted expert can be

invaluable in helping you to make these decisions,

ensuring you are not left disappointed by

insufficient or unexpected income levels in

retirement.

Helping clients to achieve their financial goals is

something that we at Mercer Jelf Financial

Planning (MJFP) are passionate about.

Through your employer, you will be able to access

a wide range of resources to help you with your

key pension decisions. However, these alone will

not be enough to secure a suitable outcome for

everyone; especially those who have a diverse

range of pension assets and/or complex planning

needs.

We offer a range of advised services designed to

help you achieve your retirement planning goals.

Through these services we will highlight the key

considerations and provide you with

recommendations so you can take the most

appropriate action.

You can then be confident of achieving the

retirement you want.

MERCER JELF FINANCIAL PLANNING

Advised Pension Services

Page 2: MERCER JELF FINANCIAL PLANNINGpensiononline.info/ifaservices.pdfIn his own words he has a ‘peculiar fascination’ for pensions, and works hard with individuals to demystify the

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Organising your finances can be

complex and time-consuming so it’s

good to know that trusted expertise is

available to help develop a financial

plan and make those crucial decisions.

We often think of money and wealth as being

the primary factor to achieving financial security,

but whilst it plays an important role, there is

more to being confident about your future

financial planning than cold numbers.

A Financial Planner can help you by offering

support around:

Future security, ensuring you have

enough income for later life

Protection, safeguarding you and

your family should the worst happen

Saving time, letting us research the

market for you

Return on investment, investing in

line with your objectives and attitude to

risk.

We passionately believe that everyone should

have access to the right support so that they can

feel confident about their finances.

ABOUT MJFP

Page 3: MERCER JELF FINANCIAL PLANNINGpensiononline.info/ifaservices.pdfIn his own words he has a ‘peculiar fascination’ for pensions, and works hard with individuals to demystify the

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We all have dreams and aspirations for the future. And we all need a

plan to ensure we have the right financial resources in place at the

right time, to help turn those dreams into reality. Similarly, we all

reach points in our life where we have important decisions to make,

such as when to retire and how to access our pension benefits.

Grant Hughes, Head of Financial Planning

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As a firm, Mercer Jelf Financial Planning has been awarded the prestigious Chartered

Financial Planners designation by the Chartered Insurance Institute (CII), an

accreditation of which we are immensely proud.

Currently held by less than 10% of the industry, Chartered status is the gold standard

for firms of financial planners and provides independent testament to our ongoing

professionalism. Part of the accreditation process is to ensure that we work in an

ethical manner, meaning that our clients’ interests are always at the heart of any

advice we give.

Many of our Financial Planners also hold Chartered status in their own right, and we

continue to ensure that they build on this expertise, retaining the knowledge and skills

required to provide the highest quality of advice to our clients.

CHARTERED FINANCIAL PLANNING

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STUART DONNACHIE

Stuart has worked for Mercer for 3 years within the Defined Contribution Pensions

Consulting & Individual Wealth practice. He is a member of the personal financial

planning team and regularly provides individuals with education on retirement

planning and wider financial planning issues. Stuart holds the Diploma in Financial

Planning and is also a Fellow of the Pensions Management Institute. He holds

specialist exams in pensions and investments and has a wide knowledge base

which allows him to provide a fully holistic approach to financial planning.

MEET THE TEAM

JAMES LUPAN

James has worked for Mercer for 4 years within the Defined Contribution Pensions

Consulting & Individual Wealth practice. He is a Chartered Financial Planner and

has achieved “Fellow” status through the Personal Finance Society. James has over

15 years of experience within the financial services industry and over this time has

gained a wealth of knowledge in providing advice to individuals across a whole

range of advice areas including retirement planning and protection (for both

individuals and businesses).

PETE MATTHEWS

With more than 30 years in Financial Services Peter has gained a wealth of

experience and knowledge. Over the last 10 years he has primarily focused on

supporting employers, employees and executives in all aspects of their personal

financial planning including retirement planning, pension tax simplification and

employee benefit programmes. In his own words he has a ‘peculiar fascination’ for

pensions, and works hard with individuals to demystify the subject. He has found

that simplicity, understanding, and enjoyment are key to this. Peter is a Fellow of the

Personal Finance Society and Chartered Financial Planner.

STUART MILLER

Stuart joined Mercer in 2001. He advises clients on all aspects of their personal

financial planning including pensions, investments, estate planning and protection.

Stuart has worked with many clients delivering topical workshops and

communications on areas including pension taxation changes and retirement

planning. Stuart is a Fellow of the Personal Finance Society and a Chartered

Financial Planner and holds a degree in Business.

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OUR PENSION SERVICES

Pensions are a complicated subject. As a result, many prefer to receive

assistance from a professional regarding the challenges they face. This

may include consolidating existing arrangements, analysing whether

you are on track to hit your retirement goal, considering whether any

further provision is required and whether you are, or may be, impacted

by changes in pension legislation.

Everyone’s needs are different, so our advised services have been designed

to provide assistance at different times, depending where you are in your

retirement journey. These can be split into three levels:

Level 1 - Specialised Pension Services

These services look at specific areas of pension saving and

legislation that might affect you on an ongoing basis.

Level 2 - Executive Pension Advisory Service

A fuller pension ‘health check’, looking at areas such as the tax

efficiency of your contribution strategy, the suitability of your

investment profile and your income options in retirement.

Level 3 - Full Financial Planning

Looking beyond your pension arrangements to the broader

financial picture, we provide full financial planning and

retained wealth management services.

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We all know that the ‘job for life’ culture is a thing

of the past, and with greater employee mobility

the greater the chance that individuals will end

up with more than one pension arrangement.

This can be cumbersome from a personal

administration point of view but also difficult to

manage. Consolidating arrangements can

simplify these challenges.

Our Pension Consolidation Service is a

telephone based service where we provide an

overview and analysis of your existing pension

arrangements and outline whether it is suitable

to consolidate these into your existing

employers pension arrangement or not.

We will supply you with a recommendation

report which will outline any guarantees or

penalties that would be applied to your existing

schemes, which will then be factored into our

overall advice.

Where we do recommend your pensions should

be consolidated, we will provide you with the

necessary paperwork to action this.

The fee for this service is £1,000 plus VAT.

This service is designed to cover Defined

Contribution pension consolidation only. It does

not include advice on Defined Benefit pensions,

which is available separately.

PENSION CONSOLIDATION SERVICE

There have been many changes to pension

legislation in recent years. In particular, the

amounts that can be contributed to a pension

each year and the total funds that can be

accrued without penalty have been significantly

reduced. Whilst pensions offer a tax efficient

way of saving, breaching these limits can

heavily reduce this efficiency.

The current Annual Allowance is £40,000

(2018/19 tax year) however further restrictions

apply if you have drawn benefits flexibly (Money

Purchase Annual Allowance) or if you are a high

earner (Tapered Annual Allowance). It can

therefore be difficult to understand how to

maximise contributions into your pension.

Our Annual Allowance analysis will outline

whether or not you are impacted by either of

these, whether any penalties are likely to apply

and the options that are available to you.

The Lifetime Allowance is currently £1,030,000

and will increase in line with inflation each April.

The penalty for drawing funds over and above

this limit can be significant. Our Lifetime

Allowance analysis will review your current

pension provision and any ongoing contributions

to ascertain whether you are likely to exceed the

Lifetime Allowance and when this may occur.

We will then outline what actions you could

consider.

The fees for these services individually are

£1,500 plus VAT.

ANNUAL & LIFETIME ALLOWANCE ANALYSIS

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When I retired some years ago I had various pensions and investments I had acquired

over the years. I’d used MJFP’s services for quite some time and was confident about

their expertise, so together we prioritised my requirements, which were: to rationalise, and

take an income from my investments as tax efficiently as possible, whilst at the same time

trying to grow that investment.

Together we decided on a portfolio split across a number of different types of investments

using a single wrap. To ensure I stay on track with my requirements I meet each year with

my Financial Planner, and have been extremely satisfied with the performance of my

Mercer Jelf portfolio, and particularly with my Financial Planner who is always on hand to

discuss any requirements I may have.

Alan McCarthy, Retained Wealth Management client

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This service provides you with a pension ‘health check’,

providing detailed analysis and advice on all the major

planning areas that may affect your pension arrangements.

Under this service, we cover the following:

Analysis of your retirement income objectives

Planning in respect of current and future pension

contribution levels

Risk profiling and attitude to risk analysis

Where applicable, Annual Allowance and Lifetime

Allowance analysis

Pension consolidation

After an initial fact finding meeting with one of our Financial

Planners, where we would obtain details of your personal

circumstances and objectives, we conduct a full analysis of

your existing pension provision.

Once this review process is complete we then provide you

with a comprehensive report at a follow up meeting,

outlining our findings and any recommendations we deem

appropriate. Once agreed we then help you to implement

these recommendations.

The service aims to provide you with a clear understanding

of your current pension position and to outline a suitable

strategy with the aim of helping you to achieve your goals.

The fee for this is £2,000 plus VAT.

However, if additional complex advice is required i.e.

defined benefit transfer, then this fee will increase

accordingly. We will always discuss any additional fees with

you before conducting any work.

EXECUTIVE PENSION

ADVISORY SERVICE

Page 10: MERCER JELF FINANCIAL PLANNINGpensiononline.info/ifaservices.pdfIn his own words he has a ‘peculiar fascination’ for pensions, and works hard with individuals to demystify the

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Whilst the services outlined on the previous

pages will meet your requirements in respect of

pensions and retirement planning, there are

often other financial issues where assistance

may be required which is beyond the scope of

these services.

In this instance, we would recommend that you

speak to one of our Financial Planners,

specifically if you have issues or questions

around final salary pension transfers or the

options available to you in retirement and how to

build a long term retirement plan.

The additional services we can provide under a

Full Financial Planning service include:

At and after retirement planning advice,

including ongoing Investment

management and strategy

Inheritance Tax planning, including death

benefits and trust arrangements

Advice on complex Occupational

Pensions

Protection planning and implementation

FULL FINANCIAL PLANNING

The fees for these services are dependent on the advice you require

and will be outlined to you during your initial meeting with one of our

Financial Planners.

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We know that advising our clients where to

invest their money is crucially important to them

achieving their future aspirations, and it is a

responsibility that we take very seriously.

We therefore have in place an Investment

Steering Committee to manage and monitor the

range of investment solutions we recommend for

our clients.

The Committee is made up of professionals with

extensive investment expertise and experience.

It reviews aspects like performance, charges and

risk levels, as well as fund managers’ business

structure, investment process and investment

philosophy.

INVESTMENT EXPERTISE

INVESTMENT GOVERNANCE

It creates value by applying its extensive

knowledge to solving investment challenges on

behalf of its clients with more than $11 trillion in

assets under advice and $227 billion under

management1. Mercer leverages its scale to

secure exceptional fee arrangements for clients,

and in particular to ensure that investment

management fees remain highly competitive.

Mercer manages the Mercer Jelf Managed

Portfolio Service, an investment solution

available exclusively to our clients.

The Mercer Jelf Managed Portfolio Service

strikes a sensible balance between targeting

growth and managing risk, that we believe our

clients appreciate and value.

The portfolios have been created to provide

realistic Investment returns over the medium to

long term, whilst monitoring and controlling risk

and cost. If you would like more information

about these portfolios please request a brochure

from us.

Being part of Mercer means we are able to draw on the extensive resources of one

of the world’s leading investment managers and researchers. Mercer has a depth

of experience and intellectual capital gained from advising a broad range of clients

and has been dedicated to meeting the needs of clients for more than 40 years,

working with individuals, wealth managers, Pension funds, insurance companies,

foundations, banks and financial advisers in over 20 countries.

1Asset information as at 31st December 2017

Page 12: MERCER JELF FINANCIAL PLANNINGpensiononline.info/ifaservices.pdfIn his own words he has a ‘peculiar fascination’ for pensions, and works hard with individuals to demystify the

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CONTACT US

If you would like to find out more about our

services and how we can help, please feel free

to get in touch:

Telephone:

0333 400 1106

Email:

[email protected]

Visit:

www.uk.mercer.com/mercer-jelf

This brochure outlines the scope of the

main advisory services we offer employees.

In addition, Mercer Jelf Financial Planning

are able to provide additional specialised

advice outside of financial planning to meet

your wider objectives from Financial

Planners based across the country.

MJFP18/049


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