Business owners
– if you own a business, quality financial planning can help you save time, money and tax. In addition, it can help give you clarity about your business needs and what you need to achieve to continue to give you the lifestyle you want.
“I approached Octagon for help with pensions I had from several past employers. Octagon handled all communication with the pension providers, to leave me a single, easy to manage pension. Octagon have taken the worry away from managing my pension. Regular meetings and the smartphone app keep me up to date with the performance of my investments. I can even add contributions myself, as and when I want with the tools provided ! I would have no hesitation in recommending Octagon!”
“When my husband was diagnosed terminally ill, Octagon were extremely supportive and helpful advising and sorting out what to do about his company pension fund. Since I have been widowed I've had confidence in the knowledge that the money from the Fund is well invested and working for me and I can contact Octagon at any time for advice. We have regular review meetings and they keep me up to date with any extra tax savings and investments I can make. I have had no hesitation in recommending Octagon to family and friends.”
At-Bristol have been a client of Octagon Consultancy for over 10 years. During this time we have worked closely with them to offer appropriate and relevant advice on their pension scheme.
We spoke to Cheryl Allen, HR Director, from At-Bristol about how our advice has helped their organisation meet legal requirements and add value to their staff.
How did At-Bristol manage their Group Pensions before Octagon Consultancy were appointed?
"Equitable got into severe financial difficulty in the early 2000s and it quickly became apparent a new provider was required to take over the group scheme."
What impact did this have on your organisation? Did it affect your businesses’ performance?
How did you come to use Octagon Consultancy?
"Octagon Consultancy were appointed before I started here, however, I know their services were recommended by the previous Financial Director. He was a contact of Richard Adams (Octagon’s Director). However Rod Albright has been managing the scheme for several years."
What were your first impressions of Octagon Consultancy?
Did you have any concerns about using another provider?
"Not concerned, more interested really as I have an interest in pensions and have a certificate in Pension Management for Trustees and Administrators. When I met Rod, he put my mind at ease as he clearly knew what he was talking about and had an excellent knowledge of the products and services he was recommending to us."
How did Octagon Consultancy present their proposals for a new pension scheme to you?
"Rod proposed a new pension provider, Scottish Widows. As the majority of our employees didn’t have a great deal of knowledge about pensions and weren’t clear on the implications they would have as a result of the change, Rod came in and delivered a presentation explaining the benefits of Scottish Widows and answered questions on the transition.
In late 2012 Rod advised us there were to be some changes to pension schemes for all, as auto-enrolment had been announced. Fortunately, he gave us plenty of notice and we were able to adequately prepare. We had several meetings to discuss the costs and the implications of the change. If Rod hadn’t prepared us we could have potentially faced additional costs and our finance staff wouldn’t have had the right training to process auto-enrolment. Octagon Consultancy provided all of the necessary administration, such as sending draft letters in readiness for us to notify staff about auto-enrolment. In the end it was a seamless transition. This put everyone’s mind at rest and has resulted in only two people have opted out of the scheme."
"Definitely - Rod even helped with the registration document for the Pension Regulations, which has to be completed by the employer. He sat down with us and helped explain how to correctly complete the form. This saved us time and put our minds at rest by knowing the form was correctly completed."
Did Octagon Consultancy identify any shortfalls in your previous scheme? If so, did they suggest solutions to those issues?
"Yes, Rod and I both felt that we needed a more hands on approach in relation to explaining exactly what our group pension scheme provides. To resolve this, Rod visits us every other month to meet with staff who wish to discuss their pensions. He covers areas such as changes to pension contributions, maternity leavers, sabbaticals and also retirement goals. The staff really value his time and feel comfortable discussing areas of concern with him."
Are you happy with the result of Octagon Consultancy’s work?
"It’s a great working partnership with both Rod and Octagon Consultancy. Having such a good relationship enables us to be more open, meaning I’m not afraid of asking questions which I think may sound silly! All in all it’s been a match made in heaven and long may it continue."
Are you happy with the result of Octagon Consultancy's work?
How did you come to use Octagon Consultancy’s services?
“Two and a half years ago I retired and thought it was an appropriate time to seek financial advice as I had received a redundancy payment and also was eligible to begin claiming my pension. I knew a close friend and golfing buddy who worked for Octagon Consultancy – both have a good reputation.”
What made you decide to use Octagon Consultancy?
“A large contributing factor in my decision to use Octagon Consultancy was that they are a well-established and reputable firm. Anyone investing money wants to be reassured that they are in safe hands and are dealing with trustworthy people, Octagon Consultancy provides all of these things. I have dealt with many of the staff in the office, all whom have been exceptionally friendly, understanding and knowledgeable.”
