Deciding to exit your business is a significant step in your journey as an entrepreneur. It is crucial to have a carefully planned exit strategy, regardless of the current stage of your business. However, given the multitude of exit options available, it can take time to determine the best course of action. In this context,
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One topic on everyone’s mind is the role of Artificial Intelligence (AI). So, I’d like to dive into this fascinating topic: What exactly is the future of personal finance management in the UK with the rise of AI? What is AI? AI, or Artificial Intelligence, is the broad concept of machines being able to carry
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As you plan for your financial future, you may wonder whether it’s worth working with a financial advisor or tackling your finances on your own. While there are pros and cons to both, the decision ultimately depends on you. What are the advantages of working with a financial advisor? One of the main advantages of
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You might be unsure of your duties as a trustee and the procedures you must follow. Here are some crucial things you should be aware of if you’re a trustee. Being a trustee entails taking charge of funds or property placed in a trust for another person, referred to as the “beneficiary,” by a person
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We all have heard the phrase ‘Humans are creatures of habit’. However, do habits help or hamper us when we think about money? Habits are behaviours and preferences we develop based on our views and belief systems. They are mental shortcuts or scripts that help us to navigate the world. We all have developed numerous
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The University of Manchester Research has published a report entitled: Pensions and Divorce: Exploratory Analysis of Quantitative Data. The report has found that, within couples, men have substantially more private pension wealth than women. This poses challenges should they divorce. The researchers looked at the pension wealth of almost 30,000 people over the age of
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The clients we serve best have the following qualities: They work in partnership with us to make good financial decisions Our clients appreciate, that the advice of a highly qualified advisor is useless if not acted upon. The ultimate decision lies with them, and our role is to help them make it a good one.
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If a trust might generate taxable income or gains, HMRC required the trustees to register it with them. They did this using paper Form 41G (Trust). This was not the case where the trust would not generate any taxable income or gains. An example of this is where a trust holds an investment bond. What
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Do you have all your essential documents in one place? If you do not, it may be a good idea to start. To focus your thoughts, think about what you would need in the event of a disaster like severe weather or a house fire. What would you need to have ready to grab and
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Demonstrating value to our clients is crucial. There have been a number of studies by industry bodies and providers, including Royal London here and Russell Investments here, which quantify the value advice can give to our clients. The results are clear; individuals are better off, net of costs, by taking financial advice. What about business owners? Let us
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There are many ways for the directors of a business to buy its premises. Below we will look at the benefits and drawbacks of the main ways. Company purchase Benefits If the company buys the property, it does not affect how the director’s pensions are invested in any way. If the company owns the property,
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Open Banking is a secure way to share your financial information. It is now available on your Personal Finance Portal (PFP). The introduction of open banking is a great opportunity to put you in control of your money. It is important to understand what it is and what it can do for you. Briefly, open
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If you were not prepared financially for the first wave, then that is understandable. However, being prepared for a second wave is critical. So, what can we do? Do not rely on the Government When the infection first reached the UK, the government was quick to step in and help people financially through various schemes.
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There are many benefits of turning using a financial planner. Financial planners have the expertise to advise on how best to achieve your goals. They can play a role in deciding where to invest your money to ensure it is working hard in pursuit of your ambitions. You are bound to think about how safe
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More than a fifth of UK households live in privately rented accommodation. The Government has introduced measures to protect renters affected by COVID-19. This radical package of measures protects renters and landlords affected by COVID 19. With these in force, no renter in either social or private accommodation will be forced out of their home.
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Some mortgage borrowers may have been adversely affected financially by The Coronavirus (COVID-19). Because of this, they may consider requesting to take a mortgage payment holiday on their mortgage for up to three months. The Government’s policy aims to ease the stress some borrowers will face during the pandemic. It also provides some flexibility at
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The damage from falling victim to a fraud or scam is not only financial. It can also have huge emotional consequences. Remember that if you are a victim of this type of crime, you are not alone. Support is available, but you need to report what has happened as soon as possible. How to spot
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On 25 March the Coronavirus Act 2020 received Royal Assent. It is a bumper piece of legislation, running to 348 pages and covering a wide range of areas (many excluding Scotland because of its devolved powers), including: Food supply; Statutory Sick Pay (SSP) modifications, such as the funding of the employer’s liabilities; Suspension of the rules that
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On Friday the Chancellor gave a graphic illustration of what ‘whatever it takes’ means. After waiting a year and a half for a Budget, within the space of nine days we have had three. The latest, presented in Downing Street was a real money-no-object blockbuster: Coronavirus Job Retention Scheme This type of scheme echoes measures
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Zoom is a video meeting app which is like skype but works on any device. All you need is a device with a camera, a screen, a microphone and speakers. This could be a laptop, tablet, or your phone. It is safe and secure. It works very well, and also allows us to share screens.
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Further to the recent government announcements and in the interest of staff, their families, and our clients, we will have a reduced team in the office. Also, all client face to face meetings are suspended over the short term. Any staff who are not in the office will be working remotely. If you have a
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Every year, thousands of people lose millions of pounds due to investment scams. Technological advances mean scams are becoming more common and harder to identify. There are some warning signs you can use to avoid falling victim to scammers. Investment scams aim to get unsuspecting people to hand over money. They can seem legitimate, appearing
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To be in control of your money, you should have a plan for what you spend. This allows you to give each pound you make a purpose. Although this may seem like a lot of work, it is key to lasting financial success. A good spending plan will help you take each financial step as
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Proposed rules mean solicitors must increase their due diligence on whoever they refer to. So, what does this mean for law firms? The Solicitors Regulation Authority (SRA) urges firms to have a holistic picture of their client’s needs. Part of this is having formal relationships with financial planners such as ourselves. There are clear links
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