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Our Relationship with Forces MoneyPlan

We have mentioned our new partnership with Forces MoneyPlan in the last two newsletters.

Forces MoneyPlan offers a pro bono generic financial consultation to our members. What has particularly pleased me about this initiative is that many of you have used it (76 to date) and that it is producing useful answers which are actively helping you manage your finances and in some cases keeping you off the rocks.

As a reminder, if you want to know about your Armed Forces pension, come to our own FPS pension advisory team in the normal way but if you want free generic financial advice to understand the advantages/ disadvantages of different types of savings and investments, or how to build a financial plan for the future or simply have greater control of your routine finances (including debt) go to Forces MoneyPlan and use the new offer.

If however you want regulated financial advice – i.e. someone to advise on a particular course of action or to recommend or manage specific investments then you must go to a regulated Financial Adviser.

Here is some recent feedback we have received about the service

Case Study I (comment from pro bono adviser)

“X wanted to discuss funding Long Term Care.  His wife is in care home (he has power of attorney) and he had received paperwork from the provider that he didn’t understand.  I met with Mr X and informed him that an Investment Bond he was considering cashing in would otherwise be disregarded when his local authority assessed care support and funding. Had we not had this meeting I fear he would have cashed in the bond needlessly and it would have then been taken into account when assessing ongoing local authority funding for his wife”.

 Case Study 2 (comment from member)

 “Very useful.  It went beyond our expectations. The adviser sat down with us and talked us through how we could achieve our aim of buying a house.  It set our mind at ease in many areas and gave us confidence to move forward with our plan.  He helped us also understand pensions with regards to my partner’s position and it is likely we will return to him for further advice”

Case Study 3 (comment from member)

“Yes, I found the consultation helpful.  Yes following the initial guidance session I will go on to seek a further detailed analysis of my personal circumstances, probably through the initial financial guidance adviser.  The knowledge, experience and professional approach from the initial financial guidance adviser was much appreciated”

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