Have you ever asked yourself, how your family might be affected if you died or you had a serious accident preventing you from working for a prolonged period of time?
Protection of your life, income, tax planning, investment and retirement planning for the whole family is essential. No one does it for you!
Reasons to plan
Personal financial planning is essential to safeguard yourselves from unforeseeable, unknown disasters that could wreck your assets, home, work, interests, and above all, family. It is law to have your car insured, but how important is your income and your life to your family?
For most people, family is the most important part of our lives. In an increasingly more uncertain world, the most certain thing we can do - to protect them and provide for them - is to make well-reasoned, cost-efficient financial plans. We guide you on choosing the right options, and review any current plans already in place.
Basic protection doesn't need to be expensive, but for the cost of a take away, you can usually put in place most of the key components of the protection for a young family.
Education, either university or private school is going to be costly and will have an impact upon your standard of living. We help look at the future potential costs and explore the various options so that you can make an informed decision, that is right for you and we help you plan for it, as early as possible. We guide you around the options and the most tax efficient route to suit you and your family.
Family health insurance, medical cover and long-term care planning
These are not topics that anyone really wants to plan for, but with careful planning, some of the expensive pitfalls can be avoided if addressed and discussed early enough.
Quick response, choice and treatment through private medical provision is what dreams can be made of, when it is really needed. It's about peace of mind and choice. The same applies to the inevitability of growing older — finding long-term care solutions that we can plan for today. It's not natural to discuss the topic of old age care, but it is an eventuality that a growing number of us will need care and so should at least be discussed.
The line between tax evasion and tax avoidance doesn't have to be complex and expensive, but just making use of traditional allowances and methods via good advice can make a big difference to most people. The goal is usually to organise your financial affairs via correct legal strategies that minimize your tax liability. We look for ways to reduce your taxes and work hand in hand with your accountant, to maximize what we can for you, your business and your family.
Tax advice which contains no investment element is not regulated by the Financial Conduct Authority.
"Inheritance Tax is, broadly speaking, a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue."
Roy Jenkins MP, Commons debate, 1986
Inheritance & estate planning
Currently, the Inheritance Tax threshold is £325,000, taxed at Nil which can be passed on via your Will free of any taxes, over this figure the tax rate is 40%. We can advise you on how best to use exemptions, trusts and other options, to safeguard as much as possible for those you leave behind. We focus on choice, control and flexibility of the assets you have accumulated in life.
If an estate is planned simply and correctly, in advance of the eventuality you can pass more to your family and friends than to the Chancellor.
Investment Planning and savings
This is about having the right money in the right place at the right time in life.
This is an area in which we have particular expertise and many years of experience. We guide you through the many options available to you using the Whole of the Market. We can advise on all areas of investments and savings, from National Savings, to Investment Individual Savings Accounts (ISAs) to Investment Bonds both Onshore and Off-shore to Unit trusts and OEIC (open-ended investment company) options, to bespoke portfolios and discretionary wealth management plus many other products and options.
Investments and Savings cover a wide spectrum of products and objectives.
Investments and Savings often reflect what a client wants at different stages of their life and whether this is their first opportunity to put monies away or whether they already have a diverse and varied portfolio we have strategies that can help.
We help clients accumulate wealth, manage existing wealth for both now and the future and for income and capital growth purposes. We support and help clients with fully bespoke portfolios, Discretionary Managed Portfolios all the way to grandparents making small investments for grandchildren.
We live in a fast moving world with an ever increasing set of choices, charges and legislation. Every person has a different need and requirement for Investment or wealth creation/management and we work on an individual basis with our clients to manage and link to your overall financial goals and plans, and set in place regular reviews with you.
"It doesn't matter how much you earn, it matters how much you save"
Trent Hamm American Blogger 2006
The value of your investments can go down as well as up, so you could get back less than you invested.
Retirement planning building & pension income
In the good old days, your employer often took care of your pension contributions and plans. Today, and after the credit crunch, a long recession and turbulent employment times, you are increasingly expected to take control of planning your own retirement and the relevant decisions that go with it. It's a challenging, and complex area with many rules and regulations. Too many people have old pension pots and don't have a plan to review and ensure they are doing what they should be doing for you.
One of the first questions we ask our clients at Vita Financial Planning is: "In today's money what level of monthly net income do you wish to enjoy when you stop working?"
Most people have never considered this question. When we know what you are targeting, we evaluate your current position and plans, and then help you understand the steps and plans you need to put in place.
At Vita Financial Planning, we have a lot of experience in pre and post-retirement planning, and help clients achieve their retirement goals by focusing on the end objective and putting in the measures to make that happen, and then to review and manage the plan.
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We help you accumulate personal wealth and make your assets work for you so that you don’t have to.
We support you with the complex and daunting financial choices at a stressful time, to make the right choices for you and your family.
Vita Financial Planning Limited is an appointed representative of Lighthouse Advisory Services Limited, which is authorised and regulated by the Financial Conduct Authority.
The Financial Ombudsman Service was set up by Parliament to sort out individual complaints that consumers and financial businesses aren't able to resolve themselves. Details of how the Financial Ombudsman Service can help can be found on their website at www.financial-ombudsman.org.uk/consumer/complaints.htm or you can ring the consumer help line on 0800 023 4567 or 0300 123 9123.
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