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How to: look after you money post-divorce

09 January 2007

Your finances special / Punter Southall promotion
Divorce can be a daunting time and although you or your legal team will have achieved the best possible financial terms, you need to focus on building a safe financial future. 

“Although it is always advisable to take your time over any new decisions – especially those regarding your finances – inertia can easily set in and you can find yourself losing out in the long term,” said Julia Whittle, head of the divorce team. “Take time to find a good financial adviser, preferably one who is experienced in the issues surrounding divorce. Avoid the advice of too many “well meaning friends” when it comes to a serious long term strategy as those closest to you will be less able to be objective about your situation.”

Consider what your lifestyle should be like given your new financial situation. Do you need to supplement your income? When maintenance stops what will happen then? Try to figure out what you need to do to make sure you continue to have the lifestyle you would like. Are you making the most of your settlement? Have you got a good long-term plan that will help you live comfortably within affordable guidelines?

“We understand that most people emerging from the divorce process are bruised and cautious, which is why we offer both a “hand holding” or more distant relationship depending on what you require,” said Julia Whittle .”Our aim is to help guide you through this difficult time with sensitive, experienced and practical financial advice delivered by our expert team in a friendly and accessible manner.”

Punter Southall can offer advice on the following:
  • Financial planning, budgeting, maximising income – long-, medium- and short-term approaches with ongoing advice.
  • Independent investment advice with pro-active asset management – this will ensure that you get the best combination of investments appropriate to your attitude to risk and that this strategy is reviewed on an ongoing basis.
  • Re-balancing existing portfolios – where you have existing investments that were included in the settlement or indeed those outside – these should be reviewed in light of your new circumstances to see if they are still appropriate.   
  • Pensions advice including sharing orders and re-establishing retirement provision after a clean break – if you have a pensions sharing order you will need to know what to do next and what is the best route forward for you. If you don’t have one, your pensions or income potential in retirement should be an important part of your financial strategy.  
  • Cash flow, income and maintenance management – it is important to make sure you are managing your income efficiently.
  • Split asset administration – If assets have been divided or change of ownership agreed as part of the settlement, then this needs to be administered.
  • Replacing lost benefits and protection – you will need to work out with your financial adviser the type and level of protection required and then, taking stock of any existing policies and the premium levels you can afford, make sure this is put into place with some degree of priority.   
  • Cross border pensions and investment advice – if you are thinking of moving abroad or even living abroad temporarily and if you are a foreign national you should make sure your advice has the correct FSA (Financial Securities Authority) permissions in the countries which are relevant to you.
Specialist divorce team
Punter Southall has a team of ten advisers working across the UK, who are experienced in providing advice pre, during and post divorce to individuals and their families. In addition it provides all support services detailed above to legal professionals.
It can save time and money to use the same financial advisers throughout the divorce process and post settlement. They will have a clear picture of what your requirements are and can implement the correct investment and financial planning strategy to ensure you make the most of your settlement.

About Punter Southall
Punter Southall Financial Management is a leading National Independent Financial Adviser providing financial planning advice and wealth management to high net worth individuals, senior executives, directors, professional partners and entrepreneurs.
It is part of the Punter Southall Group, a financial solutions group providing the rare combination of pension actuarial services and employee benefits for companies along with Independent Financial Advice for private clients. Its independent asset management team advises on over £12bn of both institutional and private client funds. This along with our research and product solutions facility provides one of the most comprehensive financial planning and solutions services in the marketplace.

Punter Southall Financial ManagementJust for you!

For a free initial financial consultation with a member of Punter Southall’s team of experts, contact Julia Whittle on 0207 024 7411 or email

Punter Southall Financial Management is a trading name of PSFM Limited. PSFM Limited is authorised and regulated by the Financial Services Authority · FSA Registration No. 137684. Registered office: 126 Jermyn Street, London SW1Y 4UJ · Registered in England and Wales No. 2148740. A Punter Southall Group company.

For more advice on starting a new relationship or divorce recovery read articles in our finance section.