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Visualise Your Future

Admin : September 4, 2019 10:18 am : Articles, Blog, Financial Advice, Financial Planning, Saving and Investing, Working Women

Reaching a state of complete financial well-being

Financial well-being ultimately comes from achieving financial security and independence. When you’ve reached a state of financial well-being, you’ve got to a point where you have a sufficient level of income for your lifestyle needs, enough capital to give you peace of mind, and the knowledge that whatever happens you, your family and business are fully protected.
Most people have lifestyle goals that are directly related to their finances. So why is it then that some people have the ability to live the life of dreams and pass on their wealth successfully to the next generation, but others face the prospect of selling their home or worry about health and care fee costs, and leave behind a tax bill for their loved ones to deal with?

Tangible and realistic goals
Regardless of what life stage you are in, you are likely to have some short, medium and long-term financial and lifestyle goals. Setting tangible and realistic goals, following them, and tracking and reviewing your progress is the key to success in achieving them.

If you are married, it makes sense for you and your spouse to both share the same financial and lifestyle goals. Otherwise, achieving them will be almost impossible. It’s important to develop your financial and lifestyle plans together, and review your progress together to make sure both of you are contributing to the same outcomes.

How much money will I need?
Determining what your short-term, mid-term, and long-term financial and lifestyle goals are is the first step. This may include planning for that dream holiday, buying a new property, university savings for your children or grandchildren and retirement savings. Once you’ve both agreed your financial and lifestyle goals, the next step is to determine a good estimate for how much money you’ll need for each of them.

Determining an accurate amount will involve clearly identifying each of them. So for example, do you want to pay for your children or grandchildren to have a private education? If you are saving to pay towards your children’s or grandchildren’s university fees, what percentage do you want to pay? Your retirement savings needs will depend greatly on the lifestyle you plan to lead once you are retired, as well as when you plan to retire.

What savings goals should I set?
It’s important to prioritise each of your financial and lifestyle goals in order of importance, and then determine how long you have to save or invest for each of them. Retirement could be many years away, but your short-term goals could be in a year or two. Next, estimate how much interest or capital gains you’ll expect to see from saving and investing your money. While capital gains or growth are never guaranteed, an estimated average can be used for these purposes.

When you set your financial and lifestyle goals, don’t just pick an ambiguous number. Look at how much you’re earning, what your expenses are, and determine how much you could realistically save or invest each month. You should have both a monthly and yearly savings and investment goal, and ideally they should align based on your overall total wealth solution.

Do I have a sufficient emergency fund in place?
It’s no surprise that when life presents an emergency, it threatens your financial well-being and can cause tremendous stress. Are you currently living without a financial safety net? How would you hope to get by financially without running into a short-term crisis? If you don’t already have a rainy day fund in place, this should be the first savings goal on your list. Your emergency fund should be sufficient to cover at least six months of your outgoings. This should include all of your living expenses, and the expenses of any dependents you have.

Where should you keep your emergency savings? If you already have an emergency fund, how does it fit in with your goals? Being prepared with an emergency fund gives you confidence that you can tackle any of life’s unexpected events without adding money worries to your list.

Do I know where my money is going?
Are you tracking your expenses? If you don’t know how much you spend in a month, that will seriously hinder your ability to budget. That’s why tracking your expenses is so crucial. Make a budget plan you can stick to. But making a budget plan and making a budget plan you can follow are two entirely different things. This is why tracking your expenses is important, and it can inform your budgeting choices.

How would I cope with unexpected car problems or medical bills? Do I know where my money is going? Am I in control of my spending? Have I prepared a budget plan? Provided you stick to it, a budget plan will help you keep on top of your spending and make sure you can identify wasteful expenditure.

Is my family protected if the unexpected were to happen to me?
We can’t predict the future. However, we can help our loved ones by planning for it. It’s not just you that your financial planning has an impact on. We all intend that our plans will come good. But making sure that your family – or your business – can cope if you fall ill or were to die unexpectedly is something we can too easily put to one side.

Would your family or business find themselves unable to pay the bills if something were to happen to you? This is why it’s essential that your financial and lifestyle goals are fully protected to ensure that an outstanding mortgage and any liabilities would be paid off, and your family would continue to receive an ongoing income if the worst were to happen. Should an unforeseen event occur today, are you adequately protected? If not, take action now.

What do I need to invest for? What do I want to invest in?
When it comes to building an investment portfolio, you should have specific goals that reflect your risk tolerance, time horizon or asset class preferences based on your financial and lifestyle goals. Do you have plans to buy another property or to invest in a new project or business venture?

Knowing how much of a role you want to play in selecting and managing your investments can help you choose the approach that aligns with your investment goals.

Your investing preference can also impact the investment products and offerings you might choose. If you feel you don’t have the time or experience to monitor your portfolio balances so they stay true to your original target goal allocations, you should look to choosing fund types that take on some of that work. Ask yourself: how experienced am I with investing? How much assistance do I need? How much control do I want over my investments? Do I prefer to be in charge or do I want my investments managed for me?

How can I further grow my wealth?
Whatever the origins of your wealth, it now provides for even greater growth opportunities. An effective total wealth solution focuses on long-term goals while managing risk along the way. The old adage ‘Don’t put all your eggs in one basket’ applies when you are looking to further grow your wealth. An appropriate diversified asset mix is key to investing wisely.

To further grow your wealth by investing, this involves buying financial assets such as shares, government and corporate bonds, and property. The main reason for investing and taking on additional risk you wouldn’t have if you kept your money in cash is the hope of making a higher return. The aim of investing for growth is that the investments you put your money into will increase in value over time. Ask yourself: am I prepared to accept a higher level of investment risk? Have I set my investment goals based on my financial and lifestyle goals?

What will my children’s future hold?
What action do I need to take to provide my children with an independent education? The thought of paying school fees for five, ten or even fifteen years can look like an insurmountable mountain to climb. Which schools should I apply to for my children? Do I want my children to board or not?
Also, no matter how harmonious you may want your family life to be, some disruptions and disturbances are inevitable. When they occur, they may not only be stressful, but they can also lead to financial worries and difficulties. How would my family cope financially if I were no longer around? Have I made provision for every possibility? If your family could end up becoming financially vulnerable, you need to make provision sooner rather than later.

How can I support my children and parents?
With longer life expectancies and people starting families later than ever, many of us can expect to become part of the ‘sandwich generation’ at some point. Will I be faced with the task of caring for my elderly parents alongside my dependent children? Finding yourself squeezed between – and often by – these two generations can be very stressful. As well as facing time pressures, chances are your finances will become very stretched too.

Do I expect to have to financially support my parents in later life? Do I have plans in place if I need to care for my parents while also trying to make financial provision for my children as they enter adulthood? Balancing the demands of raising and supporting your children and worrying about your parents’ independence and well-being without planning is difficult. The trouble with being stuck in the middle is that you run the risk of neglecting your own self-care while attempting to help everyone else. It’s essential to have a plan of action in place to care not only for your ageing parents and children, but yourself too.

How do I talk to my grown children about how to handle the money they will inherit? How can I ensure the wealth will last for them and beyond?
You may have accumulated wealth after many years in a successful career, from the sale of a business or received a substantial inheritance. But when children inherit wealth, it can pose plenty of questions, particularly around how they should best invest, manage and preserve these assets. There is also a common concern that children who are set to inherit wealth lose their motivation if they are aware of the scope of the family’s wealth and a likely inheritance.

While access to and knowledge of this wealth can be a positive thing, there’s always the risk that the security provided by the money might lead to complacency and entitlement. Do I have concerns about how best to prepare my children for their inheritance? Are my children prepared to receive such wealth? Have I had an honest conversation about money with them before they inherit these assets?

Do I have the right plans in place to retire when I want?
What should I be saving for retirement to live the life I want? Do I know my exact number? The reality is that there are countless factors that will impact on how much you will need in retirement. Therefore, determining your target goal for retirement savings can be more challenging than it may seem. So what is the solution? Instead of thinking of your retirement savings goal as one big number, look at breaking this number down in connection to your life goals.

For instance, if you have any idea about where you might want to live or in what type of property you want to live in the future, that can go a long way towards long-term retirement planning. Setting a retirement goal doesn’t necessarily mean sticking to one large monetary goal. Instead, aim to incorporate retirement savings into your goals for today. How much money will I need to save in advance to deliver the income I want in retirement? How will I spend my time in retirement? How much will my leisure and travel pursuits in retirement cost me?

Time to get motivated to reach your personal and financial goals?
Setting personal and financial goals makes it more likely that you’ll save and invest for – and achieve – every financial and lifestyle goal. You’ll be more motivated to reach each of them since you can gauge their progress. And you can consider the time horizon and risk level separately for each goal and invest accordingly to ensure they form part of your overall total wealth solution.

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Protecting your wealth: identifying your investment objectives is a lifelong process

Admin : August 23, 2019 11:41 am : Articles, Blog, Financial Advice, Financial Planning, Working Women
A total wealth solution has no value unless it is properly implemented through an appropriate investment strategy.
If you’ve got a sufficient amount of money in your cash savings account – enough to cover you for at least six months – and you want to see your money grow over the long term, then you should consider investing some of it.

Investing is a lifelong process, and the sooner you start, the better off you may be in the long run. Regardless of the financial stage of life you are in, you will need to consider what your investment objectives are, how long you have to pursue each objective and how comfortable you are with risk.

Current finances and future goals
The right savings or investments for you will depend on how happy you are taking risks and on your current finances and future goals. Investing is different to simply saving money, as both your potential returns and losses are greater.

If you’re retiring in the next one to two years, for example, it might not be the right time to put all of your savings into a high-risk investment. You may be better off choosing something like a cash account or bonds that will protect the bulk of your money, while putting just a small sum into a more growth-focused option such as shares.

Choosing your savings and investments
You may be a few months away from putting down a deposit on your first property purchase. In this case, you might be considering cash or term deposits. You might also choose a more conservative investment that keeps your savings safe in the short term.

On the other hand, if you have just recently started working and saving, you may be happy to invest a larger sum of your money into a higher-risk investment with higher potential returns, knowing you won’t need to access it in the immediate future.

Different types of investment options
If appropriate, you should consider a range of different investment options. A diverse portfolio can help protect your wealth from market corrections. There are four main types of investment, also called ‘asset classes’, each with their own benefits and risks.

These are:
Shares – investors buy a stake in a company
Cash – savings put in a bank or building society account
Property – investors invest in a physical building, whether commercial or residential
Fixed interest securities (also called ‘bonds’) – investors loan their money to a company or government

Defensive investments
Defensive investments focus on generating regular income as opposed to growing in value over time. The two most common
types of defensive investments are cash and fixed interest.

Cash investments include:

High interest savings accounts
The main benefit of a cash investment is that it provides stable, regular income through interest payments. Although it is the least risky type of investment, it is possible the value of your cash could decrease over time, even though its pound figure remains the same. This may happen if the cost of goods and services rises too quickly (also known as ‘inflation’), meaning your money buys less than it used to.

Fixed interest investments include:

Term deposits, government bonds, corporate bonds
A term deposit lets you earn interest on your savings at a similar, or slightly higher, rate than a cash account (depending on the amount and term you invest for), but it also locks up your money for the duration of the ‘term’ so you can’t be tempted to spend it.

Bonds, on the other hand, basically function as loans to governments or companies, who sell them to investors for a fixed period of time and pay them a regular rate of interest. At the end of that period, the price of the bond is repaid to the investor.

Although bonds are considered a low-risk investment, certain types can decrease in value over time, so you could potentially get back less money than you initially paid.

Growth investments
Growth investments aim to increase in value over time, as well as potentially paying out income. Because their prices can rise and fall significantly, growth investments may deliver higher returns than defensive investments. However, you also have a stronger chance of losing money.
The two most common types of growth investments are shares and property.

Shares
At its simplest, a single share represents a single unit of ownership in a company. Shares are generally bought and sold on a stock exchange.
Shares are considered growth investments because their value can rise. You may be able to make money by selling shares for a higher price than you initially pay for them.

If you own shares, you may also receive income from dividends, which are effectively a portion of a company’s profit paid out to
its shareholders.

The value of shares may also fall below
the price you pay for them. Prices can be volatile from day to day, and shares are generally best suited to long-term investors, who are comfortable withstanding these ups and downs.

Although they have historically delivered better returns than other assets, shares are considered one of the riskiest types of investment.

Property investments include:
Residential property such as houses and units
Commercial property such as individual offices or office blocks
Retail premises such as shops or hotels
Industrial property such as warehouses

Similarly to shares, the value of a property may rise, and you may be able to make money over the medium- to long-term by selling a property for more than you paid for it.

Prices are not guaranteed to rise though, and property can also be more difficult than other investment types to sell quickly, so it may not suit you if you need to be able to access your money easily.

Returns
Returns are the profit you earn from your investments.

Depending on where you put your money, it could be paid in a number of different ways:
Dividends (from shares)
Rent (from properties)
Interest (from cash deposits and fixed interest securities)

The difference between the price you pay and the price you sell for – capital gains or losses.

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Plan for the life YOU want by asking questions that will shape your future

Admin : August 20, 2019 7:36 pm : Articles, Blog, Financial Advice, Financial Planning, Returning To Work, Starting Out, Working Women
No two people have identical financial circumstances, which is why it’s essential you have your own total wealth solution that meets your individual needs and goals. Planning for financial success can be complicated in today’s world. A broad knowledge of everything from complex retirement and investment products to risk management strategies and tax laws is required.

Your total wealth solution is a financial roadmap that will provide you with clarity about your future. It should detail every aspect of your vision – your hopes, fears, dreams and goals. It should also describe exactly how your future will look and help you to know exactly where you are headed and when you are likely to arrive.

Take some time and ask yourself these questions:

Q: Can I sleep comfortably knowing I’ll have enough money for my future?
Q: Do I have the security of knowing where I’m heading financially?
Q: Am I ready for life beyond work?
Q: Am I going to be able to maintain my current lifestyle once I stop working?
Q: Do I feel empowered financially to live the life I want today and tomorrow?
Q: Have I made sufficient financial plans to live the life I want and not run out of money?
Q: Do I have a complete understanding of my financial position?
Q: What is ‘my number’ to make my current and future lifestyle secure?
Q: What will my children’s future hold?
Q: How can I pass on my wealth to the next generation?
Q: Is now the right time to sell my business?

Creating your financial roadmap
Part of this process is to understand your total wealth solution ‘number’ – in other words, the amount of money you’ll ultimately need to ensure complete peace of mind in knowing your future lifestyle is secure and making sure you don’t run out of money before you run out of life.
By getting to know you and what you want to achieve, we’ll be able to provide you with a detailed action plan that is focused on you. By creating a total wealth solution for you, we can get a clear understanding of your current lifestyle, your future and the life you want to live.

Initially, creating a financial roadmap will enable you to make the right financial choices and achieve the right balance between current responsibilities and future aspirations. All of this should enable you to achieve your desired lifestyle goals and objectives over time.

Liquidity needs
This is important to fund expenditures and meet liabilities for the next two to five years. Investments should be held in stable assets with low volatility, such as cash and/or a high quality bond ladder. Failure to plan adequately for your liquidity needs could mean you have to sell assets at discount prices.

By assessing your cash flow needs over the next two to five years and setting aside funds to meet them, you are creating a buffer between cash needs and market returns, thus reducing the risk of being forced to sell assets with high return potential at the wrong time. This strategy generally involves low-volatility assets such as short-term fixed income and cash, as well as borrowing facilities.

Lifetime balance
This will enable you to meet your financial goals for the balance of your lifetime and is characteristically well-diversified across asset classes with a growth orientation. The exact composition depends on your situation, goals, financial personality and values.

These assets are designed to satisfy lifetime needs. With short-term cash needs met by your liquidity strategy, these assets can be focused on long-term growth, with an asset allocation tailored to your risk appetite and the family’s aspirations.

Future generations
These are assets in excess of what you need to meet your lifetime objectives. Your approach to your legacy strategy investment portfolio could be more aggressive and less liquid than those investments in your liquidity or longevity strategies, given that the time horizon is much longer term.
This strategy is assigned to improve the lives of others, both within your family and in society. In many cases, this will include cash flows lasting beyond your lifetime, including philanthropic goals and assets earmarked for future generations.

Given the opportunity to focus over a very long investment time horizon, this strategy has the capacity to invest in asset classes that offer an illiquidity premium, such as private equity, or investment themes that seek to profit from long-term trends in society or technology.

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Protecting what matters to you: those dearest to us, and those financially dependent upon us

Admin : August 16, 2019 2:29 pm : Articles, Blog, Estate Planning & Wills, Financial Advice, Financial Planning, Parents, Protecting What Counts, Working Women
If something should happen to you, the last thing you want is for you or your family to be worrying about money. One of the most important aspects of your financial planning should be to ensure that you’ve made provision for your family and any dependants in the event of a serious illness, injury or untimely death.

Financial planning is not only about fulfilling our needs and aspirations, but it is also about protecting those dearest to us, and those financially dependent upon us. Of course, illnesses and deaths are not things that we like to think about, but failing to protect against such eventualities can have severe consequences for our loved ones, from struggling to pay the mortgage to a potential Inheritance Tax bill.
Here are just some of the policies that need to be considered.

Life assurance
Generally speaking, anybody with dependants or an outstanding mortgage should look at taking out a life assurance policy. At the very least, this should cover any borrowing and ensure the family can keep their home, but preferably it should provide an additional sum to help cushion the shock to your family finances at such a difficult time.

The level of cover should match your specific circumstances, which means it’s crucial to choose the right term and sum to insure. And by putting the benefits paid on death into an appropriate trust, this can be a very useful way of ensuring they are passed on to the intended beneficiaries at the right time. The proceeds also won’t form a part of your estate when considering any Inheritance Tax liabilities.

Income protection
Being unable to work can quickly turn your world upside down. These policies typically pay out between 50% and 60% of your salary, tax-free, if you are unable to work due to illness or injury. They are an essential form of cover for those with dependants, but the terms and conditions vary – some pay out until retirement or death, others until you return to work. Almost all will only pay out once a pre-agreed period has passed, ranging from three months to a year.

Some policies will also only pay out if you cannot return to your own occupation. Others pay out only if you are incapable of doing any job. So it’s important that you obtain professional financial advice to make sure the right policy is put in place for your needs.

These plans typically have no cash-in value at any time, and cover will cease at the end of the term. If premiums stop, then cover will lapse.

Critical illness
This cover gives you the comfort that, should you face a terminal diagnosis or a specified critical illness, your policy pays out a tax-free lump sum as opposed to an income. Critical conditions include suffering a heart attack, stroke and certain types of cancer – but each policy will have its own definitive list.

Typically, the proceeds are used to fund paying off a mortgage and any other debts, or they could be used to pay off school fees that are no longer affordable or to provide a financial legacy.

IF THE PLAN HAS NO INVESTMENT ELEMENT, IT WILL HAVE NO CASH-IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

CRITICAL ILLNESS PLANS MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. THE DEFINITIONS VARY BETWEEN PRODUCT PROVIDERS AND WILL BE DESCRIBED IN THE KEY FEATURES AND POLICY DOCUMENT IF YOU GO AHEAD WITH A PLAN.

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Should I invest into a pension or an ISA?

Admin : August 13, 2019 9:03 am : Articles, Blog, Financial Advice, Financial Planning, Pensions, Retirement, Retiring, Saving and Investing
Investors looking for tax-efficient ways to build a nest egg for retirement often look to both Individual Savings Accounts (ISAs) and pensions. Tax-efficiency is a key consideration when investing because it can make a considerable difference to your wealth and quality of life.
However, the type of investment and tax-efficiency is a common dilemma faced by many people. Which is better – an ISA or a pension? In truth, there’s a place for both, and it’s easy to argue the case for each of them.

ISAs allow you to invest in the current 2019/20 tax year up to £20,000 each year, providing tax-efficient growth and income. Withdrawals are tax-free because the money paid in was from after-tax income.

Pensions are also very tax-efficient. All contributions within allowance limits receive tax relief from the Government payable at up to your highest rate of tax. For example, it would only cost a basic-rate taxpayer £80 to contribute £100 into their pension because they would receive tax relief at 20%. This is added to the £80, representing the 20% tax they would have paid if they had earned that £100.

For higher earners, it is even better, with higher-rate taxpayers only needing to contribute £60 in order to boost their pension fund by £100, and additional-rate taxpayers only needing to pay £25 (assuming they have at least £100 of income taxed at those rates).

Tax relief is given on personal contributions up to 100% of your earnings (or £3,600 if greater). If total contributions from all sources, including your employer if applicable, exceed the annual allowance (£40,000 for most people but can be less for higher earners or those who have flexibly accessed a pension), you will suffer a tax charge on the excess funding if it can’t be covered by unused allowances from the previous three years.
So, pensions give you tax relief on money going in, but when it comes to drawing on your pension, tax will be payable at your marginal rate apart from the tax-free lump sum (normally 25% of your benefits).

ISA investments don’t allow for tax relief on the money being invested, but they do give you total tax exemption on any gains made within the ISA. So with an ISA, when you come to withdraw funds, you will not pay a penny of income or Capital Gains Tax.

Put simply, the right option will be different for different people. There will be some for whom the right answer is a pension, others for whom the right answer is an ISA. If it was clearly one or the other, it would be far simpler.

An important point to remember is that you cannot normally access your pension until age 55, whereas your ISA is accessible any time.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS.

ANY LEVELS AND BASES OF, AND RELIEFS FROM, TAXATION ARE SUBJECT TO CHANGE.

A PENSION IS A LONG-TERM INVESTMENT.

THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN, WHICH WOULD HAVE AN IMPACT ON THE LEVEL OF PENSION BENEFITS AVAILABLE.

YOUR PENSION INCOME COULD BE AFFECTED BY INTEREST RATES AT THE TIME YOU TAKE YOUR BENEFITS. THE TAX IMPLICATIONS OF PENSION WITHDRAWALS WILL BE BASED ON YOUR INDIVIDUAL CIRCUMSTANCES, TAX LEGISLATION AND REGULATION, WHICH ARE SUBJECT TO CHANGE IN THE FUTURE.

THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE.

INVESTORS DO NOT PAY ANY PERSONAL TAX ON INCOME OR GAINS, BUT ISAS DO PAY UNRECOVERABLE TAX ON INCOME FROM STOCKS AND SHARES RECEIVED BY THE ISA.

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Creating a total wealth solution

Admin : August 11, 2019 9:22 am : Articles, Financial Planning, Protecting What Counts, Saving and Investing
If you do not know where you are going on your journey, how will you know when you arrive? This is so true about the importance of having financial goals. You need to set financial goals to help you make wise financial decisions, and also as a reward for your efforts. Goals should be clear, concise, detailed and written down.
Unwritten goals are just wishes.

Establishing your financial and lifestyle goals is a fundamental part of your total wealth solution process.

Specific
Your financial and lifestyle goals need to be as specific as possible, because otherwise they won’t give you enough direction to follow through. Look at your goals like a lamp lighting the way – the brighter the light, the clearer the journey ahead. If you don’t have clearly defined goals, it can be easy to procrastinate. Think about your life and what you want to achieve, and what action you need to take to achieve the outcomes you want.

Measurable
Measurable goals are essential for evaluating the progress of your journey. It’s important to give yourself realistic deadlines, to make them action-oriented but ensure they are realistic with an appropriate timeline. Adding specific dates and values will make your progress quantifiable, enabling you to complete your goals and visualise your destination.

Attainable
Be honest with yourself and set realistic financial and lifestyle goals. Decide what you want to accomplish. So, start with the highest on your priority list. We know it’s easy to be overwhelmed by everything that needs to be done, so we’ll help with the process. By reviewing your financial and lifestyle goals annually with us, it gives you an opportunity to formally review them, update them and review your progress since last year.

Relevant
It’s essential to align your financial and lifestyle goals with the direction you want to take. Balancing the alignment will give you the focus you’ll need. If you think about it, a goal is defined as ‘a desired result’. And a resolution is ‘a firm decision to do something’. So, they are really very similar. When setting any financial and lifestyle goal, ask yourself what the goal means to you.

Time-bound
Having a destination point will mean you’ll get to celebrate when you accomplish your goal. Having set deadlines gives you a sense of urgency that is lacking when goals are open-ended. In other words, your financial and lifestyle goals should be time-based, time-bound, timely, tangible and trackable.

Making additional investments
Do you have the means to make additional investments necessary to accumulate the required assets to achieve your goals? Don’t neglect to consider the effects of taxes on your savings and investments. After considering the foregoing, you might determine that you can achieve some goals in less time. Or you might find that it could take longer. The time horizon is important to setting realistic goals.

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Job Opportunity: New Client Liaison

Admin : August 4, 2019 10:13 am : Articles, Our News

At Evolution Financial Planning we provide access to financial advice and believe it is invaluable that our clients are aware of the importance of striving for financial independence, through a combination of having less debt, increasing their savings and maximising the money they already have. We aim to provide clarity and long term financial stability with bespoke and holistic financial advice for each individual.

Our clients are incredibly important to us, and our ethos of providing a supportive journey for them on their route to financial independence is imperative.

An opportunity has arisen for a self-employed, working from home role to be undertaken on behalf of Evolution Financial Planning.

The perfect applicant for the New Client Liaison role will be someone who is quick to pick things up, interested in financial services (although you don’t have to have worked in the industry), is results driven and will get the job done. You will need to demonstrate exceptional customer service skills and want to be part of a team with a big vision: our clients always come first. This is a key role as you will be speaking to every new client, and be a front of house/first impression for the business, therefore you will be someone who is on the ball and doesn’t need to be micro-managed.

Previous experience in customer service and results-driven environment with an element of process and systems is required.

The role will be for around 5-10 hours a week and paid at £10-12 per hour, dependent on experience.

Flexible working is offered, however client standards will need to be met and the successful applicant will need to be available to meet at the office in Rochester, Kent for regular catch ups and training. It is also important that there is minimal background noise when calls are being made, and so we respectfully request that they are made during business hours and not whilst children are in your care.

To apply, please forward your CV to email@evolutionfinancialplanning.co.uk

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Comment: Nest removes tobacco investments from its portfolios

Admin : July 26, 2019 9:40 am : Articles, Blog, Pensions, Retirement, Retiring, Working Women

We were encouraged to read that the National Employment Savings Trust or Nest, which operates the government’s Workplace Pension Scheme and helps employers to meet their auto-enrolment obligations, has announced that it will be removing tobacco investments from all of its portfolios over the next two years – an excellent move and one which will be welcomed by many, in our opinion.

The scheme cites ‘stricter worldwide regulation’ as well as tighter legislation from governments across the globe towards the tobacco industry as key reasons to go tobacco-free when it comes to investing on behalf of its scheme members.

There is also a positive ethical issue at play here. The industry as a whole is now seen as a tainted industry and not one that many investors are as keen to support any more. Exploitation at the tobacco sources, allegations of tobacco companies shifting their profits to tax havens and the obvious health impacts that smoking causes are all reasons why more and more people are turning their backs on an industry where previous investments would have been a solid option.

Recent figures indicate that people in England are quitting smoking at a higher rate year on year than ever before; the proportion of adults in the UK who smoke has fallen to 14.7% in 2018, down from 19% in 2011. Nest currently looks after the pension posts of one in four workers in the UK, and that figure is expected to rise to one third in the next decade. Coupled with the decrease in the popularity of smoking across the UK and the increased awareness of the ethical – and health – issues relating to it, we feel this is only a positive action by Nest. We look forward to seeing if any other investment schemes follow suit.

Would you like to chat more about recent financial news? Would you like to be part of a group that empowers women to create wealth for themselves and their families? Well, the Money Mastery Collective Facebook Group is just for you. You can join here. Don’t miss out, join us today and connect with like-minded women!

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Evolution Financial Planning’s Rebecca Robertson celebrates a double win!

Admin : July 24, 2019 11:27 am : Articles, Blog, Financial Advice, Financial Planning, Our News, Working Women

Evolution Financial Planning’s founder Rebecca Robertson was delighted to be recently named both Role Model of the Year at the 2019 Women in Financial Advice Awards and Financial Advisor of the Year at the Women in Finance 2019 Awards!


The judges at the Women in Financial Advice 2019 Awards noted that Rebecca was selected for the Financial Advisor award due to her “…stand-out entry from an adviser, business owner, mum, author, presenter and mentor…. a talented leader and a very positive role model”. The Awards strive to highlight the achievements of women working in the financial advice and the wider financial services world.

Winning the Financial Advisor of the Year Award at the Women in Finance Awards was also an important measure for Rebecca of how vital it is to ensure a provision of ongoing financial planning education for women, through providing excellent financial advice, therefore enabling women to make financial decisions for themselves and their families with confidence.

The Women in Finance Awards aim to redress the gender imbalance in the financial industry by showcasing the achievements of women in the sector and identifying new role models.

Rebecca is pleased that these recent Awards have recognised her commitment to providing an exemplary financial service to many clients over the past few years. “ I have spent a long time working on my business and both of these Awards really validate the hard work I’ve put in. It’s a real pleasure to be recognised in this way, and I’m very proud of what I’ve achieved so far. Thank you to my team and to my clients, past and present, for supporting me along the way.’

Would you like to learn more about the current financial options available to you? Would you like to be part of a group that empowers women to create wealth for themselves and their families? Well, the Money Mastery Collective Facebook Group is just for you. You can join here. Don’t miss out, join us today and connect with like-minded women!

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Why do I need a pension advisor?

Admin : July 1, 2019 11:04 am : Articles, Blog, Pensions, Retirement, Retiring, Working Women

A pension advisor can support you on your journey to being in the best possible financial position come retirement.

 

What do we offer?

We offer you independent financial advice and can help to reduce the worry of not having any money when you retire. We will provide you with recommendations as well as guiding you towards being in a comfortable financial position later in life. We hope that by doing so as early as you possibly can, it will allow you to take your grandchildren on days out without having to constantly check your finances and avoid you being solely reliant on the state. No one wants the worry of whether or not you will still be able to afford your TV licence when you are aren’t as active as you used to be.

How can we help you?

Our pension review service is a process of which we undertake to ensure that your current pension pots are correct and fit for purpose. If, after the review has taken place, your pension is no longer of a necessary standard; then we would either look at moving them elsewhere or consolidating.

Having all your pensions under one system could also make it a lot easier to draw the money when you need to. It would mean that no longer have to manage several pension pots at one time as well as stopping the need for multiple annual statements. It may well also save you some money in fees!

What does that mean for you?

After undertaking a pension review you will be in a position to:

• understand the size of your current investments

• what you should be adding to it

• and what it could produce for you in later life

You will also know if it’s in the right place or not and where you should move it to if necessary. If you decide to go ahead with the advice and recommendations given during your pension review you will leave with a clear idea of exactly what your pensions look like and will have provided you with clarity instead of confusion!

During the pension review we will also provide you with some basic financial education and a simple understanding of the importance and different options when it comes to investing.

We are in the best possible position to explain all things pensions to our clients. We can help you through the whole process and take a lot of the stress away both before we make a recommendation and after. Allowing Evolution Financial Planning to deal with all the paperwork on your behalf; gives you the opportunity to just sit back, relax and look to the future!

We are constantly analysing data coming in from a clients pension provider and can review your pensions yearly. Performance will be maintained and monitored over a long term as standard however if there are any performance issues that we feel you need to be made aware of clients are written to as a matter of course under regulation. We too want to ensure you are safe and your money is safe at all times.

With our pension management service you never have to worry again about ensuring your pension is in the right place or its performance. Should your circumstances change since our most recent recommendation; we will be happy to conduct another review to ensure everything is still in the best possible place.

Our ongoing pension management service also includes the preparation of quarterly reports as well as dealing with everything administrative in relation to your pension. Pension management also gives clients the opportunity to contact us at anytime for advice.

How does a pension review work?

Want to know how our pension review service works? Check out this page for more information and our special offer below.

 

*Special offer* book your pension review by the 19 July 2019 and pay NOTHING! Click here for more details.

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