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Blackfriars Wealth Management offers personal INDEPENDENT financial advice on the following areas:
Retirement Planning

Planning your retirement well is one of the most important things you will do before retirement. In order to enjoy the lifestyle you’d like in retirement, can you afford not to plan ahead?

With the pension legislations constantly changing, it is vital that professional advice is given in respect of:

Contribution levels
Investment choice and performance
Suitability and risk profile
Charging structure

Regular reviews of your pension provision can ensure you’re on course to achieve your desired level of income in retirement.

Family Protection

What if the worst happened and you passed away. How would this impact financially on your loved ones?

Would your partner and children be able to remain in your home, or would the financial burden be too much?

If your partner doesn’t work due to raising your children, would this be able to continue?

Life assurance is the cheapest of all policies, yet is often overlooked by families in the UK. For as little as £6 per month, you could rest assured that in the event of you or your partner passing away, your family will be financially secure.

How would you pay your bills if you were unable to work due to an illness or an accident?

For self-employed people particularly, Income Protection can be a vital policy to ensure you have the peace of mind that your mortgage will be paid in the event of illness/injury. With many variables, such as the amount covered, the time between claim and pay out (deferred period), it doesn’t need to be an expensive cover to have, but could be the most important thing you do.

Previously called Permanent Health Insurance (PHI), the permanent referred to the fact that the insurer can never cancel the policy due to the claims history. So once you’re covered, as long as you maintain your premiums, you will remain covered until retirement.

Family
Investments

It is important to understand the different stages to investments; Accumulation, Management and Decumulation. The following should be considered:

Do you know what you’re paying out in charges?
Are you getting value for money?
Is your portfolio diversified enough?
Are your investments tax efficient?
Are your investments correctly risk profiled?

Income Protection
New ISA (NISA)

NISA’s are one of the most tax efficient ways of saving, ensuring that any gains are not subject to income tax or capital gains tax (CGT). They are now a lot more flexible than they used to be, and allow investors to shelter a good amount over time from unnecessary taxes.

With interest rates continuing to be at a record low, more and more investors are starting to explore options in order to make the most of their investments.

Talking to an IFA could ensure your money is working as hard as possible for you.

Are you making the most of your allowances?
Is your NISA performing as it should be?
Are you overpaying on charges?
Are your investments suitable for your risk profile?

It is essential that professional independent advice is given to ensure you have the best possible deal.

Inheritance Tax (IHT) Planning

Are the beneficiaries to your estate potentially liable for a large inheritance tax (IHT) bill?

Is your estate (including property) worth in excess of £325,000 (single) or £650,000 (joint)? If the answer is yes, then unless plans or provisions are made, your family could be hit with a large tax bill.

As of April 2017, the government is introducing an additional tax free allowance per person which can be used on their main residence, providing it is left to either their children or grand children. Initially each person will be able to offset £100,000 against IHT on their main residence, which is rising by £25,000 per annum to a maximum of £175,000 by 2020/21.

This will mean that a married couple with a house worth £350,000 will be able to leave it to their children or grandchildren without any IHT applicable.

If like most people in the UK, your main asset is your home, this could potentially make matters harder for your family on the event of you passing.

Did you know that before probate is granted, which is the point your will can be executed and your estate distributed, any IHT bill must be settled.

This leaves many families in a real dilemma because they have the asset in the house, yet they cant sell it to raise the cash.

Prudent financial planning can ensure that this is never an issue.

We also offer advice on:

  • Full Financial Planning
  • Trust & Estate Planning
  • Offshore Investments
  • Retirement Planning
  • Critical Illness Cover

We think it is essential that people obtain professional and independent advice when it comes to pensions, investments and protecting their family. Given the choice available, financial products and services are a real maze, so using an IFA can really simplify things for you and ensure you have suitable investments, plans and policies.

Contact

40b London Road
Gloucester
GL1 3NU


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Independent Financial Adviser

Blackfriars Wealth Management Ltd is an Appointed Representative of Vision Independent Financial Planning Ltd which is Authorised and Regulated by the Financial Conduct Authority (FCA). Firm reference number 487395. This can be verified by visiting The Financial Services Register here. The guidance and/or advice contained within this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. The Financial Conduct Authority does not regulate Inheritance Tax Planning, Estate Planning and Trusts.