Here are some snippets of information from the financial services World that we feel you may be interested in. If there is anything at all that you would like us to cover please e-mail us by clicking on the contact us link at the top of this page.
Independent advisers--not a dying breed.
Posted on: June 20th, 2019 13:29
Look anywhere in the press and you will find lots of information telling you that independent financial advisers are on the decline. This may be true, as many IFA's are now approaching retirement, but I believe that independent financial advice is very much alive and kicking. Clients want to know that when we give them advice that we have started the journey of financial planning with them, without assumption. The first thing we look at is the client's objectives --what do they want, before we decide on what to do. This advice journey can only be achieved impartially if advice is not backed up by a ready-made suite of investment products. Sure, we have preferred providers who out-perform in the market, but once that investment product no longer performs as we want it to for our clients we switch allegiance. That's because we can. We haven't tied our business to a provider of investment products in return for investment in our business. We have decided to tie it to you, our client. Yes, that brings risk. But we believe it is risk worth taking. A dying breed? Only if you say so.
Smarten up your finances this Summer
Posted on: May 13th, 2019 11:39
When we are young we don't think about the future but if we start to think about saving at least £100 from the age of 20 years old we can expect a reasonable retirement.
Have you written your life insurance in trust?
Posted on: April 3rd, 2019 09:49
Did you know putting your life insurance policy in trust can ensure the death benefit is paid to the right people?
Trustees on your policy have a legal obligation under the trust to use the proceeds for the benefit of the named beneficiaries.
If you don't put your life insurance in trust, your personal representatives will most likely have to go through the "Probate" process.
The rules on Probate are changing once implemented and the new structure will look as follows;
- Estates worth less than £50,000 will pay nothing. There's no change for estates worth less than £5,000, but estates worth between £5,000 and £50,000 will save £215 compared to the current system.
- Estates worth more than £50,000 could see probate fees up to £6,000! (depending on estate worth)
If this can be avoided, why not put your life insurance in trust?
Please feel free to contact us further should you have any questions.
Planning to take your pension?
Posted on: March 19th, 2019 12:27
There is more to taking your pension than you think. You have spent many years carefully accruing a pot for yourself so why not think carefully about how you take it. After all there are many tax implications with pensions that need to be considered to make sure you are making the best of your pension both as you save and draw down. Click on the link below to understand more about this subject.
It pays off to plan how you take your pension in retirement
Posted on: January 22nd, 2019 11:41
Keeping with our theme of tax efficient saving --don't lose out on the distinct advantages to retirement planning and managing pension income in a tax efficient way. Here's how..............
1. If the pension is not completely crystallised i.e. not all the tax- free cash is taken at once, the pension will continue to be impacted by annualised growth. Additional contributions can also continue to be made up to a certain amount.
2. Careful planning could help save (in this case) up to £700 on income tax.
3. Because the majority of the pension has not been fully crystallised it can be used to:
- buy ill health benefits later e.g. an ill health annuity
-nominate someone to receive the pension on death. Pensions sit outside estate and so are not subject to IHT.
Watch those salary rises with the new higher rate tax bracket
Posted on: November 7th, 2018 15:46
For those likely to be receiving an increase in salary over the next few months, keep an eye on the new higher rate tax bracket which is being set at £50,000 from April of next year. If your increase takes you into this tax bracket then you may want to use the increase more efficiently through salary sacrifice into your pension. Also remember, that once you are earning over £50,000 you will lose child benefit.
Very important that you plan now so that you are not out of pocket due to your raise, when you should be benefitting from your hard work.
Watch for scammers and fraudsters--how to protect yourself
Posted on: October 2nd, 2018 10:51
More than £500m has been fraudulently taken from UK bank customers this year.
People have been falling foul of:
1. Bogus websites selling products that don't exist
2. Fraudsters posing as a reputable company e.g BT, a bank, a well-known commercial enterprise to try and dupe people into accessing their on-line personal banking details and then key coding the password so that unlawful transactions can take place
3.Brute Force --a virus which electronically attempts to guess your password until it is broken.
At Brighter we take the security of our client's information very seriously but realise that it is difficult to know what to do in the face of so much theft.
What you can do to limit your risk of fraud:Always use secure messaging services to transfer personal information. General e-mail, outlook, g-mail, yahoo etc are not secure unless you can encrypt the e-mail message and contents.
Make sure your passwords are really strong and that you don't use the same one for all applications
Never give your bank details over the internet. Banks and large commercial enterprises know not to ask you for bank details either over the phone or on-line so if someone asks for them or encourages you to log into your bank details whilst you are present, cut the call.
Client Exchange --our new Landing Page
Posted on: September 4th, 2018 12:56
We are delighted to launch our new Landing Page which focuses on Client Exchange--an on-line tool to help you get the best out of financial services.
Client Exchange helps you engage with your adviser by taking control of the information needed to help create the right financial plan for you.
Lots of our clients are already using it and seeing the benefits
Check out https://www.brighterfs.com/findoutmore