Our Planning Philosophy
Our planning philosophy is based upon a simple premise. We start by identifying where the client is today, we then identify where they wish to go, we then qualify and quantify any shortfall or over-provision they may currently have and finally we implement a strategy to achieve the stated goals. This can not be done without the help of some fairly sophisticated technology that allows us to bring together all the client data and run simulations that tell us where they will be in the future. This we call a cash flow forecast.
We can break the Planning Philosophy down in to key bullet points that we have detailed below.
- Confirm Client Objectives
- Confirm Clients Investment Risk Profile
- Construct Cash Flow Forecasts
- Identify client planning shortfalls or overprovision and quantify these factors
- Provide financial planning report detailing planning strategy and solutions to problems
- Ensure advice fits within affordability bounds and is tax efficient with relation to income tax, Capital gains tax and inheritance tax.
Below is a full list of our financial planning services:
Comprehensive Lifestyle Financial Planning
This will involve in depth discussions with the client to ascertain what their personal, professional and financial goals are for their life going forward. A series of cash flow forecasts will then be created to advise on what action needs to be taken with respect to every section of their financial arrangements to ensure that all their affairs are aligned as efficiently as possible towards the achievement of these life goals. This will involve consideration of, and advice and recommendations on, debt and cash flow management, family protection, business planning, education planning, retirement planning, estate planning and efficient investment returns planning. A detailed report will then be produced for the client providing a blueprint for them to structure their finances by. The plan is then implemented for the client and reviewed on an annual basis to ensure it is still on track and to take account of any changes in personal circumstances and legislation. A consultation with the clients other tax and legal advisers is embarked upon to ensure that the plan works in harmony with any existing taxation and legal measures already implemented.
The Retirement Income Plan
This plan will enable the client to obtain a clear picture as to what they need to do to achieve their retirement income goals. It will involve the construction of a Cash flow forecast and pension shortfall calculations to ascertain what additional funding is required to meet a specific level of retirement income. Advice and recommendations will also be given as to the effectiveness of any existing arrangements, the investment strategy currently being undertaken and the investment of future monies.
The Efficient Investment Returns Plan
This plan will enable clients to maximise their long term investment returns based upon their attitude to investment risk and the investment timescale available. It is for those clients who are either concerned about the performance of their existing investment or pension portfolio’s or who have suffered from a poor investment experience in the past. The plan will advise on how best to consolidate their existing arrangements and to achieve a long term efficient return.
The Family Protection Plan
This plan is designed to calculate accurately the correct levels of protection cover that will be required by the client to ensure that if death or incapacity were to strike the clients family will be sufficiently catered for. It will involve the construction of Cash flow forecasts for death and disability and recommendations for Life Cover, Critical illness cover and Income Protection. Advice will also given with respect to the correct trust planning that will need to implemented to ensure that none of the protection benefits meet Inheritance tax.
The Business Protection Plan
This plan will ensure that a clients Partnership or Company will be protected in the event of the death or serious incapacity of one of the partners, directors or key personnel. It will involve an assessment of the clients business and advice given with respect to the structure and content of their partnership agreements/shareholder agreement and advice and recommendations given on Locum/professional expenses Cover and Life Assurance for business debt and partner/director shareholdings.
The Private and Further Education Costs Plan
This plan will enable clients to identify exactly how much they need to save to meet a specific series of education funding objectives. It will involve the construction of a cash flow forecast to ascertain the size of any shortfall and will then provide advice and recommendations concerning the most appropriate investment vehicles and strategy.
The Buy to Let investment Plan
This plan will involve the giving of advice with respect to how clients can best go about structuring and running a buy to let investment property portfolio. It will examine the best ways to fund the property purchase and discuss the tax treatment of the income and capital gains derived from the portfolio.
The Family Wealth Protection Plan
This plan is designed to ensure as much of the family’s wealth as possible can cascade down through the generations by avoiding a charge to inheritance tax. It will examine the clients current position and advise on the size of their current Inheritance tax liability on either and both deaths. It will then set out a mitigation strategy as to how best to reduce or remove altogether the tax burden.
The Income Tax Mitigation Plan
This plan is for high earners with substantial income tax liabilities and its objective is to mitigate a client’s income tax burden with more complex investment schemes that attract higher rate tax relief at source. It will examine in detail their risk profiles and hence suitability and advise on the products available that can be used to mitigate the liability. It will consider EIS’s, VCT,s and Film Partnerships.
