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Pension Trust

Alastair Kennedy, the senior partner at Howsons Accountants in Leek, had acquired a number of pension schemes throughout his working life.

The heart of his pension assets rested with ownership of a property in Leek rented by Howsons. Other pension policies, all held with insurance companies, had languished in unmanaged and impractical investments for many years. Mattioli Woods was introduced to Alastair through a seminar held by Mellor Financial Services. At that time, the existing pension scheme was held with a well-known provider, and although they offered basic administration services, they did not provide any ideas or guidance and lacked personal service.

Alastair has three children all of whom have been successful in their own fields. One son, James, was particularly keen to start his own business running a cocktail bar and spent many hours looking for suitable premises from which to operate. His dreams came true when he found a quaint listed building in Congleton. Further to a detailed pension review meeting with Mattioli Woods and a new structure, which had amalgamated Alastair’s pensions into one SIPP, the pension fund was able to acquire the property and fund the refurbishment of the building ready for a grand opening.

Moving forward, there is now a clear strategy for the future. The use of pension schemes has enabled Alastair to invest his pension in an asset which provides not only a continuing interest in the bar but also a good income stream for his retirement.