The Financial Planning Process
We will also record factual details at this meeting to ensure we have a full picture of your circumstances before we provide any advice.
At the meeting we positively encourage you to ask questions about our business, skills and experience before you commit to the next stage.
Depending on the complexity of your advice needs the next stage will either be to produce a bespoke Strategy Report or we will move straight to the implementation of our advice.
If however your advice needs are relatively straightforward we will skip this stage moving straight to the implementation stage providing you with a specific report setting out what we are recommending.
A full Strategy Report will be set out in a logical fashion showing how we aim to structure your plan to achieve your objectives.
The report will generally cover areas such as tax efficiency, investment management, a review of your current financial products, tangible evidence of how we think the overall strategy will meet your objectives and finally how we would implement this strategy.
We now bring your Financial Plan to life by beginning the mechanical process of implementing new solutions and maybe moving existing products if they no longer meet your needs.
This process may involve lengthy form filling exercises and this is where our Client Liaison Assistants excel at taking the strain and getting everything in place with minimum fuss.
We will also write to you with a formal Suitability Report detailing why our recommendations are right for you and how we arrived at particular products and providers to achieve your objectives
The review will take into account any material changes to your circumstances as well as updating our records with the latest value for assets that we don't directly manage on your behalf. We will revisit the original financial planning strategy and make any necessary adjustments.
Change, whether political, economic, legislative or brought about by new product developments will impact on your circumstances and your financial plan. Regular reviews allow us to address all of these issues and ensure that your plans remain up to date and relevant.
Our Fee Structure
This meeting is provided at our cost.
The cost is dependent on the complexity of your circumstances but would generally fall within the range of £750 - £2,000.
We check our fees against our main competitors and ensure that we remain competitively priced for Chartered Independent Advice. We strive to maintain a good balance between fair fees for our clients and ensuring we can invest in our people and business infrastructure to ensure we are with you as long as you need us.
Individual Financial Planning for Directors and Shareholders
Personal Financial Plans
We put together plans that enable you to make the most of legitimate tax saving opportunities through considering the use of pension planning, tax efficient life assurance and other tax relieved solutions such as Enterprise Investment Schemes and Venture Capital Trusts.
Establishing how your business can tax efficiently provide you with personal funds and benefits is a key feature of working with us. We appreciate how focussed you are on running your business and endeavour to demonstrate how investing some time in your personal financial planning can reap rewards for you and your business.
Commercial property purchase with pensions
Owning your business premises in your pension provides control over the property, security of tenure, rental income added to your pension, capital gains tax free growth and not having property on the company balance sheet could reduce complexity if you wanted to sell the business in the future.
There are of course many variables to consider before deciding whether property purchase is right for your particular circumstances and we can advise you on your particular situation pointing out the pros and cons and arriving at a balanced decision.
Succession planning and business sale
This is likely to be one of the most difficult decisions you have to make in your lifetime; having a clear financial plan setting out how your assets can be arranged to provide the income and capital you need in retirement can provide you with the confidence you need to make a decision.
Protecting your business
Insuring major assets such as your home, business premises and vehicles is a given but what about you and the value of the shares you own in your business?
As a shareholder ask yourself these questions:-
If I died how would my family be paid for the value of my shares?
Would my fellow shareholders/the business be able to raise the necessary capital?
Is a formal agreement in place to set out what happens on the death of a shareholder?
Problems exist not only for the family of the deceased but also for the surviving shareholders who need funds to purchase the deceased's shares.
We can arrange the required insurance cover for you and ensure that the correct structure is in place to get the funds to the beneficiaries in a tax efficient and prompt manner.
Key person protection
The loss of a key person could be devastating to a business with the loss of revenue potentially causing the business to fail and/or diverting other skilled employees away from their role to fill the gap.
Insuring your key people can provide the business with the funds necessary to continue trading without financial pressure and cover the recruitment costs for a replacement.
We can arrange the required insurance cover for the business and ensure that the correct structure is in place to get the funds paid out in a tax efficient and prompt manner.
Putting in place Income Protection insurance can solve both issues, firstly it can provide the business with a replacement income to perhaps fund a temporary replacement; secondly having this income and the replacement person enables the business to still pay the person who is unable to work thus aiding their ability to recover.
Investing and managing company assets
For businesses with more than £250,000 of investable cash we have a bespoke cash management solution to enable a portfolio of cash holdings to be put in place over various terms and spread across multiple banks. The administration of this management is dealt with by us and the cash management provider. Rates are constantly monitored and changes recommended as and when appropriate.
Get in touch today and we can provide you with a comparison report demonstrating the extra returns we could obtain for your company.
Long term investments
Investing longer term and in assets that are subject to market fluctuations does carry more risk than remaining in cash but does offer the prospect of longer term returns in excess of inflation and cash deposits. Producing real returns tangibly increases the company's asset base.
To find out how you can achieve the required returns in a tax efficient manner speak to one of our experts today.
Employee Benefits and Company Pensions
The cost of an attractive benefits package can be tailored to your needs and with time savings for your HR team together with various tax benefits it may be less than you imagine.
Call our experts today for an initial discussion as to how we might be able to design a scheme for your business.
Company Pensions (Auto Enrolment)
Our complete service provides you with peace of mind that all regulatory requirements are dealt with and your employees have a suitable pension scheme to build a meaningful pension fund for their retirement.
Take a look at our brochure for more details; we would be delighted to help you implement a suitable scheme or review the current arrangements you have if you would like some assistance.
Defined Benefit Pensions & Small Self Administered Schemes
If you need assistance with this type of scheme please call to find out how we can help.
A strong team of Chartered Financial Planners
A strong team of Chartered Financial Planners
The financial services market is ever changing and to keep up with the latest developments all of our team commit to a life long learning program to ensure that the advice they give reflects the latest market developments.
Last but certainly not least we have a dedicated Client Liaison Team who provide you with a point of contact when you need it.