Client Story: Peter Bentham

Yeah. So my name’s Peter Bentham. I am. Well, what will I be? I’m 59 years old. 60 next year. I retired back in April 2024 after working for almost 32 years in oil and gas.

My wife and I live over in Richmond. Both settling into retirement, actually. I’m English, this is relevant because I’m English. I originally left the uk, after my first degree and only returned in late 2016.

So I’ve spent half of my life living and working outside of the UK and my financial position reflects that.

How long have you been a client at Permanent Wealth?

So I became a client of Adam’s, before Permanent Wealth, actually. So back in early 2019. So I think that must be going on seven years and counting. Yes. I found our initial interactions really helpful and useful.

And so when he made the transition over to Permanent Wealth, I think in that was in 2020, I came with him as a client.

How did you get in touch / find out about us?

I can’t actually remember how the initial connection was made and I don’t think it was through a referral, if I’m completely honest. I know at the time I was looking for someone to help manage my assets. I had relocated back to the UK after a long time away, as I said, in 2018, and, really was starting to think about long term financial planning.

I had used the financial planner to manage my U.S. assets for quite a while and then with settling back in the UK, really realised that I needed someone to take on that role.

What is the most important factor when planning for your future?

Yeah. So really this idea that I had worked and lived for a long period of time outside of the United, outside of the UK was really important, probably the most important factor because over half of my personal assets for long term savings and retirement were sitting in the United States because I had worked for an oil and gas company on their US payroll.

So understanding how we would manage those things, which assets potentially could and should bring into the UK, how I would fund, the transition into retirement, where elements of my savings are actually still tied to U.S. retirement rules and regulations, all of that was sort of tied into the same issue of how do I most effectively manage my assets across those two, across the Atlantic, in essence. So finding someone who could help me start to do that was, really important.

And I think Adam helped not only think about my UK side, but also put me in touch with some people who could help, manage the US side of that portfolio. As I transitioned, started to plan for retirement. The issue that I had in managing retirement assets that includes tax deferred savings, pensions across the US and UK.

It was something that was a big concern to me and Adam put me in contact with a group called Maseko who are based in central London who manage, are able to manage assets across UK and us. Our emphasis was on having them support the US side of my transition into retirement and that was moving a long standing company, 401k, sort of an IRA like structure into a personal into a personal account that could be managed independent of accountable Maseko.

The representatives at Maseko were really helpful. In fact they reached out and had a conversation with Adam. So they are I see them as a team although they don’t interact very often. But I’m very comfortable if they need to talk and have any questions about either side, they will interact.

So I think the relationship having Maseko manage my US side and having Adam be, be on point for my UK assets is working out really well.

Why did you choose Permanent Wealth?

So much about this is the personal relationship. And so I had actually been kind of interviewing other organisations at the time. I’d, done a phone interview with a guy who was sitting out in Dubai who believed he could do all of this for me, and ultimately also wanted to.

I wanted the idea of a personal interaction. I don’t live very far away. Much of the interaction I have with Adam is actually face to face. I much rather come in and have a chat. So the initial meetings we had, I just liked. I enjoyed the personal dynamic and the fact that, Adam listened carefully to what I was telling him, came back with great questions and also was, I think, honest and open about what he couldn’t do for us, for me.

And thinking about, you know, that, that mixed bunch of assets sitting across the, across the Atlantic. In terms of the approach, I think it really is just that taking time to understand my personal situation, it’s far from unique, but I do feel it is a bit complicated.

And so understanding that, thinking about ways that we can minimise the risks that I perceived of having assets sitting on both sides of the Atlantic, and, then also thinking about the tax implications of that. So coming up with useful strategies to manage tax, any tax obligations I might have.

So those three things really, I found very helpful and positive in the interactions we had.

How have you found working with Permanent Wealth?

I think I really appreciate the fact that I can always get in touch with Adam or the team that supports him either by phone or email and I know that any questions or concerns are going to be answered quickly. Surprisingly quickly at times.

So as team members who support Adam are really professional and so I really do feel looked after in quite a personal way. The financial plan we have is at least reviewed semi annually so we touch base for me I prefer to do it in person if we can.

But also if anything changes I know I can step out and contact Adam. So occasionally I’ve initiated conversations based on things I’ve heard or things that have changed. So while semi annually is the default, things can change more rapidly than that if something comes to mind.

So again I feel the regular communication as well that Adam puts out I think over time I’ve seen blogs and vlogs and podcasts. I also find them quite useful and I feel better informed as a result.

What is the most important reason you continue to be a client of Permanent Wealth?

I think, in a word, the thing that makes me continue to be a client is trust. I absolutely believe that Adam has my and my wife’s financial interests at heart, and the advice that he provides, I have confidence in.

So this, to me, feels like a relationship that we’re going to continue well into my retirement.