Andrew from Cambridge

Andrew, a 64-year-old, was referred to MorganAsh for help to secure the best price for an annuity.

Andrew is a 64-year-old single man from Cambridgeshire and had a pension fund of £85,435. His financial adviser referred him to MorganAsh to obtain the best price for his annuity. Andrew chose to take £21,358.75 tax-free cash.

MorganAsh assessed Andrew, finding his BMI to be 33.1, that he smokes but drinks no alcohol. His blood pressure is not well controlled and he is on medication.

Last year, following a colonoscopy, he was diagnosed with a large malignant tumour of the caecum. He underwent a right hemicolectomy in August. His lymph nodes were found to be clear and no other organs were involved. He receives one medication – to treat inflammatory bowel disease. His family history includes diabetes and heart disease. A standard annuity quote was only £3,813. However, when all the detailed medical information gathered by MorganAsh was understood, he received a better annuity – some 26% higher – of £4,797.

The client’s name has been changed to ensure confidentiality.

Our clients say:

“Given the often complex and technical nature of financial planning, we must do what we can to demonstrate and be seen as a trusted ‘safe pair of hands’. The current regulatory focus on vulnerability provides a timely opportunity to improve how we can recognise and address vulnerable circumstances, whilst also demonstrating individual care and empathy. Good practice principles and the use of fintech, such as the MorganAsh MARS tool, can greatly improve our ability to assess, store and communicate vulnerability across and between organisations.”

Keith Richards, Chair of the Financial Vulnerability Task Force