With a growing network of local offices wherever you live in the UK, you and your family can benefit from our expert, specialist, holistic financial planning advice. Our Purpose is to enable you to make full and effective use of your financial resources, so you can plan for and achieve the future you desire.
We can help by:
- Managing your money
- Protecting you and your Family’s financial future
- Intergenerational Estate and Inheritance Tax planning
- Tax efficient savings
- Later Life Planning and Meeting the Cost of Care
- Managing Awards of Damages & Court of Protection
- Buying or improving property
- Retirement Planning
- Financial impact of Divorce and relationships breakdowns
The value of your investment and income from it can fall as well as rise and you may not get back the original amount you invested.
The Financial Conduct Authority does not regulate taxation, trust and some aspects of corporate advice.
Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.
Managing your money
Individuals, companies and trusts invest for a reason. It can be for income or growth or a combination of the two. It could be to fund a specific purchase at some point in the future.
Whatever the reason it is important to take into account the objective, the timescale, the investor’s appetite for risk as well as the amount and the timing of the available investment monies.
We can help by:
- Collecting relevant facts to understand your current position and evaluating and adopting your existing arrangements.
- Establishing your financial objectives, tolerance to risk and required liquidity.
- Producing a financial plan.
- Establishing a suitable asset allocation to match your attitude towards investment risk.
- Identifying the most tax efficient wrappers and construct a suitable investment portfolio.
- Presenting your written financial report.
- Establishing any new arrangements and processing documentation.
- The value of your investment and income from it can fall as well as rise and you may not get back the original amount you invested.
Protecting you and your Family’s financial future
No one likes to talk about the “worst case scenarios” in life, but it can be even more distressing when the unexpected happens and you are caught unprepared.
The harsh reality is that without confronting these issues and not obtaining protection, you or your loved ones could find yourselves in severe financial difficulties at a difficult time.
- What would happen financially if you were in a serious accident which left you unable to work?
- What are the implication for your finances if you contracted a serious illness or suffered a debilitating condition?
- What are the consequences for your family in the event of the death of the main breadwinner?
We never know what is around the corner, but we can minimise any negative financial impact in the event of unfortunate circumstances.
Our aim is to retain and support your financial security if these “worst case scenarios” happen.
Our service involves firstly establishing what levels and types of financial protection you might need. We then search the financial markets for all appropriate life and income protection solutions to uncover the most relevant and best value – relating to the cost of cover provided and the policy terms.
We can continue to review your cover regularly – whether income protection, critical illness cover or life assurance – to ensure it still meets your personal needs and any change in circumstances. That way, you should have the cover you want and won’t be paying too much.
To find out how we may be able to help protect what is important to you, please contact us.
These type of policies do not have a cash value, unless a valid claim is made.
Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.
Intergenerational Estate and Inheritance Tax planning
Like many of us, you want to pass on as much of your wealth as possible to your family, rather than into the government coffers, in this case estate planning is essential. The number of families in the UK paying Inheritance Tax has been steadily rising. Rising house prices and asset values mean that people have much more to leave to their children than in the past.
The residence nil rate band, dubbed the “family home allowance” is £175,000 of extra allowance per individual. Extra allowance will not apply if the estate is too large, the house too small, or if the property passes to anyone other than children, stepchildren and grandchildren of the deceased, or their spouses / civil partners. Assets passed via a discretionary trust do not therefore qualify, because assets do not pass directly to direct descendants.
As with many aspects of tax planning, the devil is in the detail and failing to take straightforward steps can cost you significantly. Inheritance tax charged at 40% can take a big chunk out of the value of your estate. Setting up trusts, of which there is a wide range available, or using available exemptions are potential options for Inheritance Tax planning.
Estate planning involves taking into careful consideration your circumstances and objectives, and reviewing all of your assets so that any efficiencies can be implemented.
The in-depth knowledge and experience our financial planners offer across different financial planning areas means that we can help you achieve financial security for yourselves and your loved ones.
If you wish to talk to us more about how we can help you, please contact us.
Levels, bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor.
*The Financial Conduct Authority does not regulate taxation and trust advice
Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.
Tax efficient savings
Individual Savings Accounts (ISAs) are varied – they can range from cash that you want to save in the bank, to speculative stock market shares. Whatever your investment type, an ISA may be useful in order to ensure that it exists in a tax-efficient environment.
The value of your investment can go down as well as up and you may get back less than the amount invested
Individual Savings Accounts (ISAs): Overview – GOV.UK (www.gov.uk)
ISA Limits
An ISA allowance can be split across a Stocks & Shares ISA and a Cash ISA or invested all in either one. Children are subject to their own ISA allowance.
Types of ISA
There are different types of ISA account, all with their own unique features:
Cash ISA
Cash ISAs are similar to savings accounts, but the interest is tax-free, meaning that any interest you earn, you keep. Cash ISAs differ depending on your needs: some offer instant access to your money, and others feature fixed rates for those individuals looking to save a lump sum.
Stocks and Shares ISA
A Stocks & Shares ISA allows you to invest in funds, bonds, and shares in individual companies. You do not have to pay Capital Gains Tax on profits made from share price increases. There is no tax on interest earned on bonds, nor on dividend income. There is a fee for the management of your accounts.
Junior ISA
Junior ISAs are designed to build up the savings of an under-18, tax-free. The account can be opened by a parent or guardian on behalf of the child, and both family and friends can contribute. Junior ISAs can operate as either Cash ISAs or Stocks & Shares ISAs. The child cannot withdraw funds from the account until they reach the age of 18.
Help to Buy ISA
A Help to Buy ISA is specifically used to help first-time buyers amass a deposit for a property by providing them with a 25% boost on top of their savings. They are Cash ISAs with a lower allowance of £200 a month, plus a one-off £1,200 lump sum. You cannot now apply for a Help to Buy ISA but those already open may continue with contributions.
Lifetime ISA
For those looking to open an ISA between the ages of 18-39, the Lifetime ISA offers a 25% boost on savings. However, it does limit your activity – you cannot take out any money from this ISA before the age of 60, unless it is for your first home, or you will lose the 25% boost. You can hold this ISA alongside another Cash ISA, or Stocks & Shares ISA, but it will take up part of your £20,000 overall ISA allowance. A maximum of £4,000 a year can be invested.
ISA Transfers
Transferring ISAs – whether from a Stocks & Shares ISA to a Cash ISA, or between providers – is technical, and should not be carried out without professional guidance. It is not advised that you withdraw all the money from your ISA yourself – if you do, you will lose all associated tax benefits.
Your financial planner will be able to help you transfer your ISA, but they must follow the transfer rules:
- Current year’s Cash ISA: This can be moved in its entirety to another Cash ISA, or into a Stocks & Shares ISA. It cannot be split between multiple providers.
- Current year’s Stocks & Shares ISA: This can be moved in its entirety to another Stocks & Shares ISA, or into a Cash ISA. It cannot be split between multiple providers, or more than one Stocks & Shares ISA.
- Past years’ Cash ISA: These can be moved in their entirety to another Cash ISA or a Stocks & Shares ISA. Or, they can be split between more than one Cash ISA or Stocks & Shares ISA.
- Past years’ Stocks & Shares ISA: These can be moved in their entirety to another Stocks & Shares ISA or a Cash ISA. Or, they can be split between more than one Stocks & Shares ISA or Cash ISA.
We can help by:
- Collecting the facts necessary to establish a picture of your current financial situation
- Establishing your ISA-based objectives
- Identifying the most tax-efficient wrapper for you and constructing a suitable investment/savings plan
- Presenting you with written financial reports
- Providing you with ongoing financial support and guidance
- Evaluating the performance of your ISA(s) annually for optimal gain/preservation
The Financial Conduct Authority does not regulate taxation advice.
Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.
Later Life Planning and Meeting the Cost of Care
Meeting the Cost of Care
Many of us will one day have to face the challenge of ourselves or a loved one needing care, whether that be at home or in a residential care home.
Careful consideration needs to be given about how this care is going to be funded. The amount of financial support that you can expect from the state may differ depending on your individual circumstances and even your geographical location. You could have various options to consider when planning your future long-term care. Our expert financial planners can help you explore various available alternatives and help you to find the strategy that is best for you.
It can therefore be worth your while seeking specialist advice. Within our group of companies, we have expert financial planners who we would be delighted to put you in touch with.
Having Sufficient Income in Later Life
There are many ways of securing extra money in later life, especially if you own your own home, if you are thinking about:
- Increasing your regular income or contingency fund
- Funding home renovations or improvements
- Helping out family members eg to purchase a property through an early inheritance
Many people chose to downsize their property in order to release money from their home. Some properties can become liabilities rather than assets if they becomes expensive or difficult to maintain, or are not easy to live in. Or you might choose to sell your property and move into accommodation with a level of support provided, for example assisted living or a relative’s house.
These are all tried and tested solutions. However, they may reduce the amount of inheritance available in your estate or could impact your entitlement to some means tested benefits. However, there may be other alternatives to consider.
It may be prudent to take professional advice from a financial planner. Within our group of companies, we have a variety of experts with specialist knowledge in this field who we would be delighted to put you in touch with.
The Financial Conduct Authority does not regulate taxation or trust advice.
Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.
Managing Awards of Damages & Court of Protection
If you or a family member have suffered a serious personal injury, or received poor care that has caused you harm (negligence), you may have made a legal claim which resulted in an award of damages.
No amount of money could ever put someone back in the position they would have been in had such an event had not occurred. That said, an award of damages may include provision for a care need which was not previously present, it may provide for loss of earnings or any of a range of other needs which otherwise would not have existed before. The amount of money can be substantial (sometimes running into millions of pounds), but may need to cover a range of needs for a long time – and this requires careful management, with input from a range of experts.
Our expertise ensures this money is managed in line with investment strategies designed by the Court of Protection where appropriate. The settlement will often have to last for the rest of the recipient’s life, so it is vital your financial planner is there for the long term to advise the client and the other parties and professionals involved regarding decisions on a wide range of financial matters. Our role is to navigate and draw the most out of the tax and benefits systems, and ensure the funds are invested to last as long as the injured person needs them to.
Our national centre of expertise for large claims and dedicated Court of Protection team, based out of our Chorley office, directly manages the most complex cases and provides support across the whole Perspective group. We acquired Quantum Portfolio Management (QPM) in January 2021, one of the leading firms in this area. QPM was founded by Kelvin Barlow and Nigel Minay, who provided specialised advice in this area for several decades. Our lead advisor in this area for clients and professional connections is Thomas Harrison DipPFS.
Thom addressed Social Return’s conference in April 2023 on what really matters in financial planning in serious personal injury: You can watch his video here: “Spending it Once, Enjoying it Thrice.”
Our financial planners maintain close and trusted working relationships with deputies, attorneys, specialist accountants, trustees, the client and their family, other relatives, case managers and key professionals.
In such cases, we believe the following are of critical importance and demonstrate our expertise in this area:
- Competitive and unambiguous charging
- Ongoing Capital Gains Tax and Income Tax planning
- Sensitivity to the benefits landscape
- Independent, whole-of-market approach – no restrictions on investments, platforms or tax wrappers – these are always selected in the client’s interest
- Understanding of the relationships and liabilities between all parties involved, particularly the Deputy. We are an expert consultative resource
- Ongoing cashflow modelling and duration analysis including sustainability forecasting for life based on assumptions
- Where appropriate, proper implementation of Court of Protection Investment Strategies including ethical portfolios giving peace of mind. This also means investments are sold only when highly valued, not when markets are depressed
- Expertise in Professional Deputies’ obligations when investing, as set out by the Office of the Public Guardian, including restrictions on Inheritance Tax (IHT) planning
- Understanding of trust corporations, Personal Injury (PI) trusts and trustee obligations
- Understanding of Periodic Payment Orders (PPOs) and an ability to review/check Annual Survey of Hours and Earnings (ASHE)-linked PPO payments annually on behalf of the Deputy
The Financial Conduct Authority does not regulate taxation or trust advice.
The value of your investment and income from it can fall as well as rise and you may not get back the original amount you invested.
Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.
Buying or improving property
Buying your first home, wanting to make improvements to your property, looking to move to a bigger property or purchase a second home, are all likely to be a significant financial events.
There is a wide choice of financial institutions able to provide the money that may be required. In addition, you may wish to protect your ability to pay back the money you have borrowed.
It can therefore be worth your while seeking specialist advice. Within our group of companies, we have expert financial planners who we would be delighted to put you in touch with.
Please also visit our page Protecting you and your Family’s financial future for more information about how we can help with protecting your ability to pay back the money you have borrowed if the unexpected happens.
Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.