People in Nnewport and South Wales considering their retirement options now have a new source of advice.

Sanctuary Financial Planning has been launched by four directors and financial planners - Gareth Shears, Shane Hyland, James Baker and Gavin Kingsley.

The four will work from offices in Langstone and Cardiff, advising clients throughout the region.

The business will specialise in working with people who are approaching retirement, want to retire now or have already finished work.

Gareth Shears said: “Over the past year the British Steel debacle has naturally eroded some people's trust in the financial services profession. We want to show how financial planning can positively change people’s lives.

“We are different from the average firm of financial advisers. To start with, the average age of our directors is just 36, which is significantly lower than usual. And we’ve also taken the step of launching with a fixed fee model.”

James Baker said: “Not only are fixed fees fairer but in many circumstances, they reduce costs for clients. We also wanted to demonstrate that we are transparent, showing consumers what they will pay before they’ve even met us. So, we’ve published our fees on our website, something that research shows only one in 20 financial advisers are prepared to do.

“We hope that our innovative and transparent approach to fees will start to rebuild consumer’s trust in our profession allowing more to benefit from financial planning.”