Independent Financial Solutions

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Independent Financial Advice

IFA

This we achieve through the provision of personal, face-to-face independent financial advice. There are no off-the-shelf solutions as our experience is that every single one of our clients has their own personal concerns, responsibilities and ambitions.

The solutions that work for one, simply would not work for another. Basing our service on this principle as experienced advisers, we have built quite exceptionally strong, trusted and lasting relationships with our clients.

Business Protection

Keyperson / Shareholder / Partnership

ProtectionBusinesses may want to protect the key employees within their firm – perhaps the key salesperson, or the IT manager without whom the business will not function properly. Keyperson / shareholder / partnership protection can provide a fixed sum should the individual be unable to work, or even die. The benefit will be designed to cover the firm’s expenses in meeting any emergency costs, recruiting a replacement employee and protecting the future of the business. If a shareholder were to pass away, the firms remaining shareholders or directors may want to purchase the deceased’s shares from their estate promptly to maintain control of their business. The same scenario also applies to partners in a firm.

Insurance we offer

Financial products are sometimes at their most useful when they are protecting our families, our incomes or our property.

Whilst insuring ourselves against an undesirable event such as sickness or even death may not be a pleasant thing to think about, the benefit of being able to set financial issues aside at emotionally difficult times cannot be overlooked.

There are many ways in which a family can protect itself, and because of the large range of products available there is usually an appropriate policy for most circumstances, and most budgets. Click on the different protection options on the main menu to learn more about these.

This policy is designed to provide an income in the event the insured individual is unable to work due to ill health. The level of premium will depend upon the amount of benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work. Income Protection policies are usually written to retirement age or 60 if earlier.

From childhood most of us are told to put away money to save for the future – perhaps for something special? Or perhaps to be sure that when we really need something we have the funds to acquire it, without taking on debt? Whether you place your money in a piggy bank, or in a multinational investment house, our aims are broadly the same; to provide for our future needs, and to protect ourselves against unexpected causes of expenditure.

When planning your finances, it is important to distinguish the difference between savings and investments. Savings are generally funds that you set aside, but can be accessed relatively quickly. These savings are often for a specific need or purchase, like a holiday or a new car. The most common way of ‘saving’ is into a bank account (‘deposit’ account) where the money can be accessed in an emergency, and for every £1 you put in, you will get £1 back and possibly some interest.

Investments are designed to be held for a longer term, usually at least 5 years. You need to be comfortable with tying up this money for a period of time, and should not consider investments unless you have some savings in place. Most investments are not guaranteed to return your money in full, although do offer the prospect of potentially higher returns than deposit accounts. Returns, risk and volatility are the factors that will determine a suitable place for your savings.

Your Retirement Options

From age 55, there are a number of options available to you including:-

  • Draw your benefits available from the existing provider.
  • Purchase an annuity with a different provider on the Open Market. This could potentially increase the payments to you.
  • Move to Flexi-access Drawdown (or Third Way Plan)
  • Use the Uncrystallised Fund Pension Lump Sum (UFPLS) rules
  • Move to Phased retirement
  • Move to a combination of the above

Often taking the funds from the existing provider and shopping around on the open market can considerably increase the level of your income. This is because some providers offer better rates than others. Buying an annuity means using your built-up pension fund to buy the guarantee of an income for life from a company. Before you buy your annuity with another provider, you will still have the option to receive the TFC from the original pension scheme but the remaining fund value is passed to the new provider to secure your guaranteed income. The value of your pension income in these circumstances depends on several factors such as your age, current interest rates, the value of your pension fund and the type of pension you choose.

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