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The Senior Executive
Challenges

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Tony wants to know whether he can afford to retire at 60, or whether he will need to continue with some paid work for a time. He believes that he could secure one or two non-executive directorships, which would also have the benefit of keeping him stimulated and allow him to use his experience, but anticipates an annual expenditure of around £120,000 being necessary.

• His existing investments have been built up over many years by a somewhat disorganised process, including taking advice from a succession of advisers and friends, as well as purchasing some in response to mailshots. He has come to realise that the paperwork involved in running his portfolio himself is becoming a burden and does not want to spend the time that he thinks it requires on doing so. Some of his friends have stockbrokers but he is uncertain whether it would be cost-effective for him to use one.
• His wife has recently queried whether they are taking too much risk with their portfolio but he is not really sure of the level of risk to which they are currently exposed.
• He found himself paying a considerable amount of tax on the last set of share options he exercised and would like to know whether he can do anything to mitigate this with the next tranche.
• He is aware that there have been some changes to the legislation relating to pensions and would like to know if, and how, this might affect him.
• Tony is not sure of his exact inheritance tax position and whether it is possible to take action to mitigate his liability.