We were approached by Mrs Smith, a single lady in her forties, about helping her save for her daughter’s university education. Emma, Mrs Smith’s little girl, was only seven so we were able to recommend long term schemes to save the necessary funds.
The financial review undertaken by one of our wealth advisors demonstrated that Mrs Smith would need to save around £120,000 to cover Emma’s 4-year university fees. It also revealed that Mrs Smith had a surplus every month from her income, which she now puts into a savings account. The regular payments in to the account, plus growth, will ensure Emma has sufficient assets to last her through university when she starts in 11-years.