The value of investments and pensions and the income they produce can fall as well as rise. You may get back less than you invested.

Your home may be repossessed if you do not keep up repayments on your mortgage.

 

 

 

 

 

 

 

 

 

 

 

 

PENSIONS & INVESTMENTS

 

MORTGAGES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROTECTION

 

Pension and Retirement Income Planning

 

At some point in the future, most of us want to slow down and stop working but still afford a relatively good standard of living without having to cut spending too drastically.

During our working lives, we earn income from employment or self employment to save and pay for living costs, holidays, etc. but when our earned income stops, there is a clear need for an income to come from somewhere.

This normally means using income and capital sums earned during our working lives to save enough capital to draw upon to fund what will hopefully be the longest holiday of our lives!

All going well, we should all be paid a flat rate basic state pension, but this will amount to far less than most people actually want or even need to survive, let alone provide for a comfortable retirement.

For those people lucky enough to have a generous company pension scheme, a large part of their retirement income could be generated that way.

For many people however, the bulk of their income when they stop working will come from their private savings.

Whether using ISAs, a buy to let property portfolio, Unit Trusts, OEICS, cash accounts or pension plans, the onus is on the individual to accumulate a large savings pot with which to generate or convert to income.

Modern personal pension plans offer numerous investment options and are extremely tax-efficient investment vehicles that can be used to save up money far more quickly than alternative methods of savings that don't have the generous tax-relief that pension plans benefit from.

Regardless of the medium you use to accumulate the savings, careful planning to ensure that you are saving enough on a monthly or annual basis is critical.  Regular reviews to assess investment returns, inflation, charges, annuity rates and volatility are paramount to keep the target retirement income on track.

 

 

Investment Planning for Growth or Income

 

Investment portfolios that are likely to meet clients’ objectives and appetite for risk is vital for successful investment advice.

There is a four stage process for managing clients’ wealth:

1. Fact Finding & Goal Planning

  • Analyse Assets and Liabilities you already have
  • Establish Target Income  or Target Capital amount and when it is required
  • Establish any Specific Requirements –  investing in an Ethical fund for example 

2. Attitude to Risk & Asset Allocation

  • Agree your attitude to investment risk
  • Design a suitable mix of assets likely to generate expected or desired return within agreed risk tolerance

3. Tax Wrapper & Product & Fund Research

  • Research and select most suitable and tax efficient investment products
  • Research and select most suitable Investment Funds or Portfolios

4. Review Process

  • I offer bespoke levels of ongoing service relevant to you and your needs
  • Some clients require ongoing monitoring of the investment recommendations
  • Some clients require reviews of the recommended funds on a regular basis
  • Rebalancing of the assets might be required to maintain expected return
  • For simple or smaller portfolios, ad-hoc reviews are sufficient for some clients

Why Invest?

Cash deposits are useful for holding emergency monies for exploding boilers or short periods of unemployment, but inflation can erode the value of cash over the medium and long term meaning cash is not actually as safe as many people believe.  In addition, with interest rates currently so low, cash savings accounts generally provide poor value for money.

Many people are reassessing their need for large sums of instant-access cash, allocating more capital to purchase ‘real assets’ that light have a better chance of keeping up with inflation. This means decisions need to be made about how and where to invest, but investing in the current environment presents a number of challenges.

The choice of retail investment options is mind blowing with new ways and routes to invest seemingly springing up every day.

Many investors prefer investing via open ended collective investment funds such as Equity ISAs, Unit Trusts and Open Ended Investment Companies (OEICs) that provide access to real assets but have professional fund management making the daily buy/sell decisions with the aim of getting your money to work that bit harder for you.

 

 

 

 

Mortgage advice tailored to your specific requirements

 

For many buying a house can be an exciting but also daunting prospect. Having an experienced mortgage broker to help you through the process can save you stress, time and money.

Here are some of the key reasons to instruct a mortgage broker or financial adviser who specialises in mortgages:

  1. A mortgage broker that you instruct represents you. He or she has no allegiance to the estate agent, solicitor or vendor you are buying through or from.
  2. An experienced mortgage broker will have dealt with many cases before and should know the type of properties to avoid, give tips on negotiation and provide some background to the legal pitfalls that can delay or stop a purchase in its tracks.
  3. Whilst borrowing money is all about finding the cheapest rates there are subtle differences between mortgage products that you may or may not understand. Different lenders have different lending policies and some lenders do not lend at all in certain situations.  Having an experienced broker to guide you through how best to use product features and lending policies can lead to savings in the long term.
  4. The person arranging your mortgage has the most detailed knowledge of the mortgage market of any professional involved in the transaction.  With an experienced broker advising on mortgages, a surveyor advising on surveys and valuations and a solicitor or conveyancer advising on the legal aspects, you can be confident of receiving the most suitable advice overall.

A good mortgage broker knows every element of the property purchase or remortgage because he or she interacts with every other key person in the deal. This in-depth knowledge is vital in advising you as to:

  • The progress of the transaction
  • Problems that may occur
  • Whether the proposed purchase is worth pursuing

Not all mortgage brokers are the same, finding one that genuinely has your best interests at heart can be a useful addition to the team you engage for your purchase or remortgage.

Mortgage Advice 

In contrast to the limited service proposition of most high street banks, my fully comprehensive advice service does not stop once a suitable mortgage product has been researched and applied for.

By keeping in close contact with clients throughout what can be a very involved and stressful period of their lives, I am able to help project manage the otherwise demanding house buying process.

From early advice on what sort of property to buy and areas to consider, to helping find a good solicitor, through to advice on which survey to instruct and ensuring all documents and paperwork are forwarded and submitted at the right times, I am on hand to help and advise wherever I can.

  • How much can you afford to borrow?
  • How much deposit do you need?
  • Which lenders will lend to you?
  • How much money will you need to cover moving costs and fees?
  • What will your total monthly outgoings be if you own your home instead of renting?
  • What size mortgage can you get?
  • Who do you talk to and how do you start?
  • What types of insurance will you need?
  • What type of mortgage is right for you?

Choosing the right mortgage product has become even more complicated in the recent past with lenders tightening criteria in a bid to minimise their risk amid more scrutiny from the regulator.

With years of experience and access to the whole of the market, I am well placed to help you find the most suitable mortgage, even in this difficult climate. Whether you are buying a property for the first time or the twentieth time of you want to raise capital on your current mortgage, I have the expertise to make sure you get the most suitable solution for your circumstances.

Types of Mortgage

Fixed rate mortgages are for those of us who want to be certain of their monthly outgoings and a good option if you are of the opinion that interest rates will rise. They are protected from interest rate fluctuations for the length of deal period. Whilst most clients opt for a two, three or five year fix.

Tracker mortgages track the Bank of England base rate and are dependent on its fluctuations. If it drops you pay less, if it increases you pay more. Lifetime tracker mortgages are available for the entire duration of the loan period.

Offset mortgages allow you to offset any money in your current or savings account against your mortgage, so you only pay interest on the difference. As the savings for offset mortgages aren’t currently taxed, it can be an efficient way for high rate tax payers to use their money.


 

 

 

Plan for the worst, hope for the best

 

On the whole, the British public simply don’t like insurance, evidenced by the enormous protection gap in the UK.

The idea that we should pay money out to a third party in the hope that we never see any return is often enough to avoid this uncomfortable issue completely. This means we now have a serious problem in the UK with the vast majority of us significantly underinsured.

Generating the multiple, and often large, cash sums required to realise our financial plans will almost always rely on continued and rising earned income during our working life.

Illness or injury can seriously damage financial plans by forcing an individual to erode hard earned savings, or can limit the future ability to earn at the same rate as before. A few thousand pounds diligently saved over a number of years towards a house deposit or school fees can be spent in a matter of months if minor injury or illness prevents earnings.

If a serious or critical illness strikes, then even on returning to work, an individual’s lifetime earning ability may be damaged due to a disability of some kind or perhaps as a result of a lengthy and damaging forced career break. Pension plan forecasts, to generate a given income in retirement, will suffer if an individual can no longer afford to make sufficient regular investments.

Cost Effective Solutions

A cost effective way to manage and protect against this downside risk is to pool it with others via an insurance company. If a large number of people pay a small premium to an insurance company, then if one of those people falls ill, then there is a lump sum or income available to give to that person.

Saving £50 per month into a bank account for 12 months would generate £600 plus interest. Buying an insurance policy for £50 per month might purchase £200,000 of cover payable on serious illness.

Death of an income generating member of the household can leave children and their carer without any means to continue mortgage repayments or cover utility and food bills.

There are various State benefits that may help, but most are limited, don’t start immediately and usually only last for a fixed period of time. Until an individual has enough cash and investments on hand to clear any debt and provide for them self and their family, come what may, then a protection plan or insurance policy should be considered.

There are lots of different types of insurance available and it can be confusing, but broadly speaking, there are four main areas of personal protection:

  • Life Cover
  • Critical Illness Cover
  • Income Protection
  • Accident Sickness & Unemployment Cover (ASU)

There are other providers of Payment Protection Insurance [Short-Term Income Protection] and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk.

What to have and when?

Every type of protection product may become a priority need at some point in our lives.  However, the need to protect our lifestyles and those of their families tend to be a long term, even a permanent need.

Death, sickness or injury can strike any of us at any time.  It has been said that protection should underpin every aspect of financial planning.

The range of protection plans available is very wide.  All protection plans have one thing in common however, and that is to produce a sum of money at exactly the time someone needs it most.

A person’s protection needs are influenced by four key factors:

  • Age
  • Dependants
  • Income
  • Financial liabilities

These factors should be considered in conjunction with each other and not on an individual basis.

 

 

 

You are now departing from the regulatory site of Future Financial Services. Neither Neil Renton nor Intrinsic Financial Planning are responsible for the accuracy of the information contained within the site and the information and products it contains may not be regulated by the Financial Conduct Authority (FCA).

Privacy notice

Future Financial Services is committed to protecting your privacy and ensuring that your personal information is collected and used appropriately, lawfully and transparently.

Future Financial Services is an Appointed Representative (AR) of Intrinsic Financial Services Ltd (IFS) who is authorised and regulated by the Financial Conduct Authority (FCA).   IFS is part of Quilter group of companies.

This Privacy Notice explains: 

·           Who we are

·           What personal information we collect

·           How we use your personal information

·           Who we share your information with and why

·           How we keep your information secure

·           Your rights

·           How to contact us

WHO WE ARE

Future Financial Services provide financial planning solutions and advice through experienced and qualified advisers based in the UK.

Currently Future Financial Services and IFS jointly determine the purposes and means of processing personal client data relating to giving advice.  This means we are joint data controllers for these core advice-giving activities and therefore responsible for managing this client data and ensuring compliance.

However, Future Financial Services is solely responsible for some activities, for example any direct marketing that we undertake.

WHAT PERSONAL INFORMATION WE COLLECT

Personal information includes your name, address, or phone number and other information that is not otherwise publicly available. We collect personal information about you when you contact us about products and services, visit a financial advisor, visit a website we may have or register to receive one of our newsletters (if applicable).

The type of personal information we collect will depend on the purpose for which it is collected and includes:

·       Contact details

·       Information to verify your identity

·       Family, lifestyle, health and financial information

·       Payment details.

We collect personal information directly from you.  For example, we ask for personal information at the start of our relationship and in subsequent communications in order to check your identity, and protect you from fraud. This is a legal requirement and is important to help safeguard you against potential crime.

SPECIAL CATEGORY INFORMATION

In some instances, it is necessary to collect more sensitive information (such as health or lifestyle information) which is called special category data.  This is to allow us to provide our financial advice service to you.  We will always obtain your consent during the advice process to gather this data and explain what information we require and why it is needed. Sensitive personal information will always be processed and stored securely.  You can withdraw your consent at any time to us processing this data, however, this may mean that you can no longer access the service or product the information was gathered for.

COOKIES

We also collect information about you from other sources. For example, our website automatically collects information from your computer using “cookies” which provides us with limited personal information.  Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently, as well as to provide information to the website owners. For further information visit www.aboutcookies.org or www.allaboutcookies.org.

You can set your browser not to accept cookies and the above websites tell you how to remove cookies from your browser. However, in a few cases some of our website features may not function as a result.

DATA RETENTION

We keep your personal information only as long as is necessary for the purpose for which it was collected and to meet regulatory or legislative requirements.  Personal information will be securely disposed of when it is no longer required, in accordance with our Data Retention and Disposal Schedule.  A copy of this is available using the contact details below.

ON WHAT BASIS DO WE COLLECT DATA

The processing of your personal data is allowed under a number of lawful basis.  The data required for the provision of products and services is processed on the basis there is a contract with you to do so.  Any relevant marketing activity we undertake is done because as a firm we have a legitimate interest to do so however you have rights, as listed below, which impact how we can use and process your data.

HOW WE USE YOUR PERSONAL INFORMATION

We process your information in order to support and maintain our contractual relationship with you and to comply with legal and regulatory requirements.  This includes the following:

·       Providing our advice, products or services to you

·       Carrying out transactions you have requested

·       Confirming and verifying your identity for security purposes

·       Credit scoring and assessment, and credit management (where applicable)

·       Detecting and preventing fraud, crime, money laundering or other malpractice.

We also process your data for specific business purposes to enable us to give you the best products and services and the best and most secure experience. For example, we process your information to send you marketing that is tailored to your interests.

Our business purposes include the following:

·       Enhancing, modifying, and personalizing our services for the benefit of our customers

·       Providing communications which we think will be of interest to you

·       Market or customer satisfaction research or statistical analysis

·       Audit and record keeping purposes

·       Enhancing the security of our network and information systems.

You have the right to object to this processing if you wish, please see “YOUR RIGHTS” section below. Please bear in mind that if you object this may affect our ability to carry out the tasks above for your benefit.

We may also process your personal data as part of an acquisition or sale.  Should this happen, you will notified about any change to processing or data controller arising as a result of this activity.

WHO WE SHARE YOUR INFORMATION WITH AND WHY

We share your information with trusted third parties who perform tasks for us and help us to provide the services you require these include:

·       Intrinsic Financial Services Ltd Group;

·       Other adviser firms in the network for the purpose of providing you with advice (with your knowledge);

·       Quilter group companies to enhance the services and products we can offer you;

·       Third parties to verify your identity, in line with money laundering or other requirements (this may involve carrying out checks with credit reference databases);

·       Third parties who perform tasks for us to help us set up or service your plan (these third parties may be based in countries outside the European Economic Area (EEA) but where they are, we will undertake an assessment of safeguards in place);

·       Other organizations, including regulatory bodies, the police and fraud prevention agencies, to prevent and detect fraud;

·       Third parties where required by law, court order or regulation; and

·       Third parties as part of an acquisition or sale.

HOW WE KEEP YOUR INFORMATION SECURE

We are committed to ensuring the confidentiality of the personal information that we hold and we continue to review our security controls and related policies and procedures to ensure that your personal information remains secure.

When we contract with third parties, we impose appropriate security, privacy and confidentiality obligations on them to ensure that personal information is kept secure.

If we work with third parties in countries outside the EU we ensure these are countries that the European Commission has confirmed have an adequate level of protection for personal information, or the organization receiving the personal data has provided adequate safeguards. 

In limited circumstances data may be accessed outside of the EEA i.e. by employees when they travel.  In these circumstances we ensure there are appropriate information security measures in place to safeguard your information.

YOUR RIGHTS

Future Financial Services tries to be as open as it can be in terms of giving people access to their personal information and therefore have outlined your rights below.  This privacy notice was drafted with brevity and clarity in mind, therefore further information can be gathered by contacting us using the details below, or more information about your data protection rights can be found here: https://ico.org.uk/for-organisations/guide-to-the-general-data-protection-regulation-gdpr/individual-rights/

MARKETING

You have the right to opt out of marketing information and tell us what your communication preferences are by contacting IFS using the details provided at the end of this notice or by using the opt out option below or on any email marketing. You may opt out at any time if you don’t want to receive any further communications of this nature.

INDIVIDUAL DATA RIGHTS AND REQUESTS

·       The purposes of the processing;

·       The right to be informed – You can request that we provide ‘fair processing information’, typically through this privacy notice;

·       The right of access - You may request a copy of the personal information we hold about you using the contact details found on the end of this policy;

·       The right to rectification - The accuracy of your personal information is important to us. You have the right to ask us to update or correct your personal information;

·       The right to erasure – You may request the deletion or removal of personal data where there is no compelling reason for its continued processing;

·       The right to object – You may object to the processing of your data based on legitimate interests;

·       The right to restrict processing - You have a right to request we ‘block’ or suppress processing of your personal data;

·       The right to data portability – You may request to obtain and reuse your data; and

·       The right not to be subject to automated decision-making including profiling.

If you wish to correct, restrict, delete or make changes to your personal information, or any of the data subject rights listed above, please contact us at the number/address listed below.

HOW TO CONTACT US

If you have questions about this notice, need further information about our privacy practices, or wish to give or withdraw consent, exercise preferences or correct your personal information, please contact us using the following details.  [FIRM NAME] will liaise with IFS on your behalf to affect your requests.  

The Office of Data Protection
Intrinsic Financial Services Group
Wiltshire Court
Farnsby Street
Swindon SN1 5AH

DataGuardian@intrinsicfs.com
 

HOW TO COMPLAIN

If you wish to raise a complaint about how we have handled your personal data, you can contact The Office of Data Protection who will investigate the matter.  If you are not satisfied with our response or believe we are not processing your personal data in accordance with the law you can complain to our regulator:

Information Governance department
Information Commissioner's Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF

0303 123 1113                                   
www.ico.org.uk/concerns

CONSENT TO GATHER SPECIAL CATEGORY DATA

As detailed above, in some instances, it is necessary for us to collect more sensitive information (such as health or lifestyle information) which is called special category data.  This is to allow us to provide our financial advice service to you.  This is where we need to gather your consent to the collection and processing of this data.   You can withdraw your consent at any time to us processing this data, however, this may mean that you can no longer access the service or product the information was gathered for.

ELECTRONIC MARKETING

We may want to send you relevant marketing electronically from time to time. If you do not wish to receive electronic marketing you opt out.

 

Complaints information 

If you are unhappy with our service

If you have a complaint about your adviser, or any financial advice you have received from your adviser, please contact:

Intrinsic Complaints Department
Riverside House
The Waterfront
Newcastle upon Tyne
NE15 8NY

Email: complaints@intrinsicfs.com

Tel: 0191 241 0700

You can find more information by visiting the Intrinsic Financial Services website: http://www.intrinsicfs.com/contacts/

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (www.financial-ombudsman.org.uk)

The Financial Ombudsman Service Exchange Tower London E14 9SR Tel: 0300 1239123 Email: complaint.info@financial-ombudsman.org.uk Website: www.financial-ombudsman.org.uk