The Silver Lining

December 17th 2024

Client Story – The Silver Lining

A Sydney based male in his fifties working in the financial industry may not be the image that comes to mind when the words ‘fairy godmother’ are bandied about but it’s hard not to draw parallels when learning about Melissa Craig and her family and the circumstances that have led to Melissa having complete financial freedom for many years to come.  

Melissa Craig (56) lives in a lovely apartment on the edge of bushland in Marsfield, a suburb in the north-west of Sydney. She has a partner who runs his own business and is a doting aunty to toddler Lachlan, named after his grandpa. Melissa relishes the time she gets to spend with little Lachlan. In recent days, Melissa has become an aunt once again to niece, Tilly. Melissa’s brother and his family reside in Far North Queensland.

The Craigs are a close and loving family for whom laughter comes easily.  

Melissa has known financial adviser, Peter Griffith, for decades. Their paths first crossed in their late teens and when Melissa began working full-time in her twenties she turned to Peter as an adviser.

He remains a steadfast and loyal figure not only in her life but that of her parents too.  

Judy and Lachlan Craig are now in their eighties, and it is Judy with whom I speak to learn more about Melissa’s finances. The reason for this is Melissa’s diagnosis – the Logopenic strand of Primary Progressive Aphasia – a form of dementia that severely impacts language and communication. Melissa’s short-term memory is very poor, and she struggles to comprehend conversations or find the words to express herself.  

Judy explains,

“I had to step in when my daughter was diagnosed. Until that point, Melissa ran her life beautifully and there was no reason to be involved in any of her financial undertakings. I knew nothing about her financial position.”  

And Melissa’s current financial position is extremely strong thanks to some wise decisions Melissa and Peter made years ago.

Peter explains it simply; three separate and long-established policies have now been accessed by Melissa due to her inability to work, a sad but inevitable outcome due to her diagnosis.

The first income policy was paid for two years before another policy commenced that will pay Melissa until she is 65 years of age. She’s also had a Total and Permanent Disability claim approved and received advice to assist on reducing tax payable on this claim should she require lump sum withdrawals to support her.

It sounds straight-forward but in truth, the entire process was far from simple. 

Melissa had enjoyed a long and fulfilling career in retail sales. She worked for many years and had been employed by the likes of Estee Lauder, Myer, Amoena, Bendon and Citizen Watches. When she began finding tasks that she had always completed with ease challenging (i.e. retaining information from Zoom meetings, completing various computer skills etc) she wondered if it might be long Covid or something of a similar nature that would resolve itself in time.  

Unfortunately, Melissa’s condition continued to deteriorate.

“Melissa knew she wasn’t well as she was making a lot of mistakes which was very out of character,” says Judy. “She’d resign from one job and because her resume was excellent, she’d find work again easily but a few weeks into the new job she realised she couldn’t perform the role. That happened a few times,” Judy adds.  

Despite numerous medical appointments, Melissa found no answers for a few years. Eventually, she was diagnosed with dementia, a diagnosis Judy says brought some relief.  

This was when Peter Griffith (just like a fairy godmother) stepped up to the plate.

“Peter literally took up Melissa’s cause. He absolutely rose to the occasion and fought hard to procure Melissa financial security for the rest of her life. We never even had to ask that of him,” Judy explains before continuing,

“Peter’s job was made all the more difficult and stressful because Melissa was so vague on so many details that were required for the insurance policies – necessary facts such as exact dates of employment, salary, hours worked etc. Privacy laws made things challenging too and Peter had to be in constant contact with Melissa’s medical team. He was relentless, thorough and politely assertive. It all took so much time and effort. There were so often delays but Peter remained optimistic. Understandably, the insurance companies weren’t going to come to the party until every ‘i’ was dotted, and every ‘t’ crossed. Throughout the entire process Peter showed great concern for Melissa and for Lachlan and me.”  

Lachlan, Melissa’s father has listened quietly as Judy shares her experience but when the discussion turns to Peter Griffith’s character, he readily weighs in.

“Peter has great people skills and the common touch. He has the ability to embrace everything and is such a personable, knowledgeable, patient person.”  

What’s all the more surprising about the circumstances is that Lachan and Judy were largely unaware of what Peter was trying to achieve on Melissa’s behalf.

“At the time Melissa hadn’t worked for a few years, and we knew that her savings must be dwindling but it just wasn’t at the forefront of our minds,” Judy explains (Judy and Lachlan were also dealing with Lachlan’s medical concerns).

“Then, one day,” she continues,

“Peter arrived with a big smile on his face and advised us of a monthly payment Melissa would be receiving for a period of time in addition to funds to top up her super. From memory, the monthly payments were due to end fairly soon and I touched on that to which Peter replied that another payment would then start up and continue until she was 65!

We had absolutely no idea that Melissa was entitled to these insurance payouts and found it quite amazing that Peter was able to secure money for her. We all sat there completely dumbfounded! Judy says.  

Judy explains that the peace of mind that comes with such an outcome is incredible because it takes away a lot of fear – fears that she and Lachlan once held for Melissa’s future after they’ve gone. For her wonderful parents there’s tremendous relief that Melissa can keep her lovely apartment and be well looked after by her delightful, long-haired, tattoo covered, nail polish wearing NDIS carer, Luke who is an extremely important part of the family and has been in their lives for the past five years.  

When discussing how Peter Griffith has helped Melissa words such as ‘eternally’ grateful,’ ‘deeply appreciative’ and ‘forever thankful’ pepper the conversation.

Melissa has heard every word of my conversation with her parents and has, at times, been moved to tears. It’s clear to see how much Peter’s efforts in securing money for Melissa have impacted this beautiful family. This is a family who don’t look too far ahead, preferring to take each day at a time. They find joy in simple pleasures and are all counting down the days until they can meet, in person, the newest little addition, Tilly Judith (after her grandma).  

Featuring Financial Adviser:

Peter Griffith

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What you need to know: This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.These clients have agreed to share their stories. Everyone’s situation is different, so their choices and outcomes will be different to yours. Consider your circumstances before deciding what’s right for you.