To reach your financial goals you need a realistic and comprehensive plan.
We’re here to help create that vision and to put it into action. Our aim is to give you objective advice about the choices available to you so that you can make informed decisions.
We work in the following areas to make a lasting, positive impact on your financial future:
Creating and maintaining the right investment strategy plays a vital role in securing your financial future. Whether you are looking to invest for income or growth, we can provide the quality advice, comprehensive investment solutions and ongoing service to help you achieve your financial goals.
When it comes to investing, it’s as much about managing the potential downside as it is about targeting potential gains. Generally, higher returns come with higher risk, and professional financial advice can help you think about your attitude to risk before making any recommendations. It’s also important to make sure your portfolio has the right balance for your risk profile by diversifying across asset classes, regions, providers and products as applicable.
It is also likely that the balance of the investments in your portfolio will need to evolve, not only in line with changing market conditions, but also with factors such as your investment goals, your personal circumstances and perhaps most notably your age.
To discover how we can help you build a long-term strategy for your investments, please contact us – we look forward to hearing from you.
Please note that as is the case with all investments, your investment may fall in value and you may get back less than you invested.
Protecting assets so that they go to the right person at the right time is something that we all want to do, but sometimes postpone looking at. Providing your loved ones with lasting benefits needs careful planning now however. We can help you with a range of measures to ensure that your estate holds its maximum value and we’ve outlined these below.
1. MAKE A WILL
A vital element of effective estate planning is to make a Will which ensures your assets are distributed in accordance with your wishes. This is particularly important if you have a spouse or partner, as there is no Inheritance Tax payable between the two of you, but there could be tax payable if you die without a Will and assets end up going to other relatives.
2. MAKE ALLLOWABLE GIFTS
You can give cash or gifts worth up to £3,000 in total each tax year, and these will be exempt from Inheritance Tax when you die. To find out more about other gifts you can make, call us for an informal discussion.
3. GIVE AWAY YOUR ASSETS
Parents are increasingly providing children with funds to help them buy their own home. This can be done through a gift, and, provided the parents survive for seven years after making it, the money automatically ends up outside their estate for Inheritance Tax calculations – irrespective of size.
4. MAKE USE OF TRUSTS
Assets can be put in trust, thereby no longer forming part of the estate. There are many types of trust available and whilst it can seem daunting to put money away in this way, they can be unwound in the event of a family crisis and monies returned to you via the beneficiaries.
5. THE INCOME OVER EXPENDITURE RULE
As well as putting lump sums into a trust, you can also make monthly contributions into certain savings or insurance policies and put them in trust. The monthly contributions are potentially subject to Inheritance Tax, but, if you can prove that these payments are not compromising your standard of living, they are exempt.
Will and Trusts are a particular area of expertise for us, and if you’d like to know more about how and why they are a good idea, and how we can help to protect your assets, call on 01446 771949. We’ll be happy to discuss your requirements.
Please note that Will and Trusts are not regulated by the Financial Conduct Authority.
Don’t miss out on the
benefits of Wills &Trusts
Planning ahead for retirement is not easy because we’re hard-wired to focus on the here and now. Deciding what financial resources you will need in the future and plotting a path to reach your goals means taking a huge number of factors into account.
The key concern is, of course, how you structure your financial affairs to make sure you will have sufficient money if and when you stop working. Retirement can be an exciting time in life as you look forward to spending more time doing the things you enjoy with the people who are most important to you, but this can only happen if you plan in advance. We can help you make sense of the pension options available to you and advise you on how to achieve certainty for your financial future.
If you’re already approaching retirement age, we can help you decide what to do with your pension savings. Following changes introduced in April 2015, you now have more choice and flexibility than ever before over how and when you can take money from your pension pot, and sound financial advice can help you to make the right decisions.
To find out more, call us for an informal discussion about how we can help.
Professional Sports Income Protection
We’re proud to be advisers to a range of professional sportsmen and women, including members of the Welsh Ruby Team. To find out more, click here.
Download our Latest Magazine
Welcome to our latest edition.
We want you to create the life you want and believe anything is possible when we manage our finances in the right way.
Inside this issue, we look at why it’s important to consider the tax implications of making financial decisions. The 2018/19 tax year is now upon us, and a raft of new changes have come into force. We look at what you need to know about the 2018/19 tax year changes and new initiatives.
Harries Powell & Price are authorised and regulated by the Financial Conduct Authority (FCA No 588442)
You are also covered by the Financial Ombudsman Service www.fscs.org.uk