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Duke Godley Financial Planning Limited: Retirement Planning Case Study

Firm Overview

Located in Harrow, Greater London, Duke Godley Financial Planning Ltd has over 30 years of experience in financial planning. They offer comprehensive services including pensions, wealth management, estate planning, and insurance solutions. Their approach is highly personalised, aiming to align financial strategies with individual client goals[1].

Client Profiles

Accumulation Stage Client: Deepak, Age 35 professional pharmacist and business owner.

Objective: Build a retirement fund while managing risk and tax efficiency.

Strategy:

Pension Contributions: Maximise annual pension contributions using salary sacrifice and employer matching.
Investment Portfolio: Diversified using a Self-Invested Personal Pension plan (SIPP)to invest across equities, bonds, and alternative assets, tailored to his risk tolerance.
Tax Planning: Utilise ISA allowances and pension tax reliefs.
Review Cycle: Annual reviews to adjust asset allocation and contribution levels.

Outcome: Deepak is on track to retire at 65 with a projected pension pot of over £750,000, supported by Duke Godley’s regular performance assessments and strategic adjustments[1].

When Deepak came to retirement and was thinking of selling his business, we looked at the Decumulation Stage for him and the family.

Objective: Secure a lifetime income while maintaining flexibility for discretionary spending and legacy planning. Strategy:

Hybrid Approach:

1. Annuity: Purchased a Fixed Indexed Annuity with Guaranteed Period Benefit (GPB) to cover essential expenses like housing and healthcare. 2. Drawdown: Retained a portion of their pension pot in a flexible drawdown account for travel, gifts, and emergencies. 3. VCT/EIS: Potential growth and tax mitigation of income subject to the risk profile of the client.

Tax Planning: Structured withdrawals to minimise income tax and preserve inheritance options subject to current legislation.

Outcome:

Security: Guaranteed income from an annuity helps ensures peace of mind.
Flexibility: Drawdown allows for lifestyle choices and legacy planning.
Balance: Their plan reflects Duke Godley’s philosophy of combining security with growth potential[2][3].

Outcome

Thanks to the income protection policy in place, the client began receiving monthly benefit payments, replacing the income lost due to his inability to work. This financial support:

Helps ensure the mortgage and household bills were covered.
Allowed the client to focus on recovery without financial stress.
Provided a safety net for his spouse and children during a challenging time.

The relief and peace of mind this provided was immeasurable. Without income protection, the family would have faced significant financial hardship just months after what had seemed like a routine planning meeting.

Drawdown vs Annuity: Tailored Options

Feature	Drawdown	Annuity
Income Guarantee	❌ No	✅ Yes
Flexibility	✅ High	❌ Low
Market Risk	✅ Yes	❌ No
Legacy Potential	✅ Yes	⚠️ Limited
Inflation Protection	✅ Possible	✅ Optional (at cost)
Best For	Confident investors	Risk-averse retirees

Duke Godley’s Recommendation: Most clients benefit from a hybrid strategy, ensuring essential income via annuities while retaining control and growth potential through drawdown[2][3].

Next Steps

Duke Godley encourages clients to:

Book a consultation to assess current pension arrangements.
Explore personalised retirement income strategies.
Review annuity rates and drawdown sustainability.

References

[1] Duke Godley – We offer a fully comprehensive financial advice service

[2] Compare Annuities vs. Investment Drawdown for Retirement Income

[3] Income in retirement: Drawdown or annuity? – Trustnet

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Duke Godley Financial Planning Limited

Congress House | 14 Lyon Road | Harrow | Middlesex | HA1 2EN

Registered in England No. 02268794
Registered Address: As above.

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