We have one young client, a chap in his twenties. In fact, he’s our only client in that age group. His is an interesting story but not one we’d really like to see very often, for obvious reasons.
Unfortunately, this young man was involved in a serious accident while he was at university. As a result, he was awarded significant damages. Not many young people think that closely about how best to invest or plan seriously for the future, but this young man had that situation effectively thrust upon him.
He came to us when he was about nineteen or twenty wanting to invest the money he’d received to help secure his future. Even though he was legally ‘of age’ to make his own decisions, we decided that we wanted another family member, an older adult, there with him to offer any advice or input and to ensure they too were comfortable with us and what we recommended.
We were concerned about potentially bamboozling him with figures or perhaps giving him too much to think about, particularly so soon after a traumatic, life-changing accident. We didn’t want to overload him, or potentially confuse him.
So, this young man’s mother attended our meetings with him. In doing it like that it gave us all a greater sense of peace of mind. Ultimately all the key decisions were made by our new client, but his mother being present made us all more comfortable with everything. We all felt happier that she’d had some involvement in the process.
This particular young man is probably about £170k better off now than when he walked into our office six or seven years ago. He’s a very nice, intelligent young man and it was a pleasure helping him towards a more secure place for his future.
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