Financial planning. A bespoke plan for your future

Transcription

1 Financial planning A bespoke plan for your future

2 ABOUT US Tilney Bestinvest is a leading investment and financial planning firm that builds on a heritage of more than 150 years. We look after more than 9 billion on our clients behalf and pride ourselves on offering the very highest levels of professional client service with transparent, competitive pricing across our entire range of solutions. Whether you and your family would like to have your investments managed by us, require the support of a highly qualified adviser, prefer to make your own investment decisions or want to take more than one approach, we can help. If you need assistance with your financial planning, including retirement planning, we also have a nationwide team of experts available. We have won numerous awards including UK Wealth Manager of the Year 2013, Best Wealth Manager for Investments 2013 and Stockbroker of the Year 2013 as voted by readers of the Financial Times and Investors Chronicle. However, we draw greatest pride from the fact that our biggest source of new business is personal referrals from existing clients. Headquartered in Mayfair, London, we employ almost 400 staff across our network of offices, giving us full UK coverage, and we combine our awardwinning research and expertise to provide a personalised service to clients whatever their investment needs. We hope that we can help you and your family and look forward to welcoming you as a client. CONTENTS 2 About Us 3 Welcome 4 Our financial planning service 5 Achieving your goals Our investment solutions Peter Hall CHIEF EXECUTIVE 6 Expertise you can rely on Exceptional value 7 Next steps Best Wealth Mananger Best Wealth Mananger of the Year 2013 for Investments 2013 Past performance is not a reliable indicator of future returns. 2 Financial planning

3 Welcome. At Tilney Bestinvest, we have only one aim to help you preserve and increase your wealth. We understand that every person is different. You could be focused on growing your investments and pensions, estate planning, or saving tax. You might have complex financial needs, or have definitive views about what you want to achieve in life. Like many people, you may find you simply don t have time to manage your finances effectively. Often, it can be difficult to know what to do and where to invest. Whatever you want from your wealth, we can help. We work with you to understand what really matters your priorities, ambitions and concerns. Then, we create bespoke solutions to meet these challenges, by providing goal-focused financial planning and integrated investment solutions that work across all aspects of your wealth, at every stage of life. WHY CHOOSE TILNEY BESTINVEST? You get objective advice. Our investment and planning solutions are structured to align our interests with yours, with the aim of building a strong and lasting relationship. We believe planning and investment go hand-in-hand, so you benefit from the expertise of a qualified financial planner and investment professional who will work together to help you meet your goals. We hope this guide gives you a good idea of our principles and values the things that really make us different. We are dedicated to helping you get what you want from your wealth and would welcome the opportunity to discuss your needs further. We pride ourselves in offering the highest level of personal service, backed by the technical expertise of some of the UK s most knowledgeable investment professionals. We look forward to hearing from you. To learn more about how we can help, please call us on or us at info@tilneybestinvest.co.uk tilneybestinvest.co.uk info@tilneybestinvest.co.uk 3

4 Our financial planning service Whatever your objectives, it is essential to plan in order to get the most from your wealth. The Tilney Bestinvest financial planning service will create a detailed strategy for your finances. We can show you how to make your money work more effectively, so you can be confident your goals will be met. We use our in-depth expertise to design your plan, using a four-step process. 1. DEFINE YOUR OBJECTIVES Your financial plan will be individual to you, and focused on your needs. We can help you find the answers to important questions, such as: What are my key financial concerns? When can I afford to retire and once retired, how long will my money last? How can I reduce the amount of Capital Gains and Income Tax due each year? How much do I need to save and over what period? What level of return will I need to meet my objectives? How much risk am I prepared to take? Can I afford to gift money to relatives and still enjoy my current lifestyle? Is it possible to reduce my potential Inheritance Tax liability? We will work with you to identify your goals and priorities, together with your attitude to risk. 2. DECIDE YOUR STRATEGY We then discuss in detail our suggestions and proposals. Your input will be vital at this stage as we analyse your current position to determine if you are on track to achieve goals or address any concerns, and this often involves the use of a detailed cashflow analysis. We consider the whole of your wealth when developing a financial strategy that is designed to link your saving and investment targets to specific lifestyle goals. We always aim to make sure you retain as much flexibility and control of your assets as you would like. 3. PUT YOUR MONEY TO WORK This is where the value of having a professional financial plan really comes into its own. We will explain the options available and recommend the best investments for your needs, given your tax situation and income requirements. WE CAN SHOW YOU HOW TO: Reduce risk while still meeting your investment objectives Understand how much you need to save for your retirement Make sure you have sufficient protection in place so your plan is not put at risk Retire earlier than you expected Use offshore trusts and bonds to save tax Minimise your liability to Inheritance, Income and Capital Gains Tax Make use of trusts for tax planning purposes Review existing investments and improve the tax efficiency of your assets Make lifetime gifts that can enhance the lives of your children, without affecting your lifestyle Enjoy greater freedom to spend money now, without affecting your long-term goals CASHFLOW ANALYSIS EXAMPLE 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000, REVIEW YOUR PROGRESS It s likely that your financial circumstances will change over time. Assumptions made at the outset may not be borne out in reality, and there may also be significant changes to tax and investment legislation and your own circumstances. Therefore at least once a year we will meet to review your objectives and ensure that the agreed financial planning strategy and the make-up of your investment portfolio continue to reflect your needs. Wherever possible, you will be looked after by the same financial planner and investment manager for as long as you are a client of Tilney Bestinvest. CASHFLOW ANALYSIS We carry out cashflow forecasts to determine how long your assets can sustain your desired lifestyle in retirement and then test different strategies to try and deliver this lifestyle with the minimum of risk. We help you identify your priorities then set out a plan to achieve them. 4 Financial planning 500,000 0 This chart is for illustrative purposes only AGE

5 Achieving your goals Tilney Bestinvest is committed to providing the right investment solutions for our clients. We believe that financial goals are most likely to be achieved by combining the specialist skills of a financial planner with those of an investment professional, and that individual advisers trying to specialise in both facets of the advice process will end up compromising in one or both areas. Financial Planner Two experts Your goals Investment Manager Helping to meet your goals Before implementing any investment solution the strategic planning process will first seek to identify the level of risk best suited to meeting your goals. Most people think of investment risk simply as losing money, but we define risk as failing to meet a given objective. Once a level of risk and the investment return is established we will then start the investment process, which is broken down into the following steps: An initial asset allocation across equities, bonds, cash, property, hedge funds and commodities is selected based on risk and return profile Individual investments are then selected for each asset class The individual funds are allocated amongst tax wrappers (ISAs, pensions, open-end investment companies, bonds) to maximise tax efficiency A study of historical returns from all asset classes tells us that the greater level of risk you take the higher will be your expected return over the longer term. However, as you take more risk, the extra return you can achieve as a consequence does not increase at the same rate. Our aim is to deliver the required level of return with no more risk than is absolutely necessary to achieve your goal. We believe that the key to delivering this aim is to select the most suitable asset allocation to achieve a given level of return at outset, and then to review it on a regular basis to reflect changes in valuations for each asset class. Our Asset Allocation Committee meets every three months to carry out a review of the asset allocation portfolios across all risk profiles, with changes made when we think that particular asset classes are under or overvalued by the market. Our investment solutions Tilney Bestinvest is committed to providing a number of different investment solutions for our clients using the financial planning service. These are detailed below and your financial planner will assist you in selecting the investment solution most appropriate to your needs. DISCRETIONARY MANAGEMENT The majority of clients who use our financial planning service also choose to have their investments managed on a bespoke discretionary basis where we take full responsibility for performance and proactively manage the portfolio. This does not mean you have no input into the investment process, as we encourage all of our clients to take an active interest. INVESTMENT ADVISORY Our investment advisory services are designed for investors who wish to manage their own portfolio with assistance from us in the form of bespoke, personalised investment advice. ONLINE INVESTMENT SERVICE Our Online Investment Service allows you to make all decisions and gives you access to our market-leading pricing. tilneybestinvest.co.uk info@tilneybestinvest.co.uk 5

6 Expertise you can rely on If you had questions about your health, or a legal issue, you would want to consult the best-qualified doctor or solicitor available. When it comes to money, it is essential that you talk to qualified professionals who really know how to help, with advice you can truly rely on. At Tilney Bestinvest, we understand how important your money is to you. That s why, as well as being highly trained financial experts, we continually strive to improve our knowledge through an ongoing programme of professional development. Our financial planners are all very experienced in finance, so you can be sure the advice you receive is based on a deep understanding of the issues surrounding wealth, and best practice solutions to your needs. But it s not just about time in the job all our people have an abiding commitment to broaden their skills and learn new ways to add even more value for our clients. As a minimum, all of our financial planners will hold or are working towards one or both of the following professional qualifications, which in our view are among the most rigorous and difficult to obtain: Certified Financial Planner (CFP) an internationally recognised qualification that proves the holder can apply detailed technical knowledge for the practical benefit of their clients. To become a CFP, an adviser must demonstrate they can identify client needs and implement solutions across all aspects of a client s finances. Chartered Financial Planner a qualification reserved for advisers who have reached the highest level of technical excellence. To qualify, candidates must pass up to 15 separate exams covering pensions, investments, taxation and trusts. In addition to these qualifications, many of our advisers have undergone additional training in specialist areas of finance to ensure our clients benefit from the best possible advice. IMPARTIAL RESEARCH Once an asset allocation strategy is selected, we can then use the expertise of our large in-house research team to identify the best way of investing into each asset class. With no ties to any bank, fund manager, or investment company, our research team can search the entire market to find the optimum blend of risk and reward. Exceptional value Our services have been fee-based for a number of years, because we believe this is the only way to guarantee that our advice is objective. You can always be completely confident that we are working with your best interests in mind. For the initial strategic planning report we charge a fixed fee which is based on a combination of the value of your assets and the complexity of the advice required, which is agreed in advance of any work we do. For ongoing advice and the review of your affairs, the total cost will depend on the investment solution that you are using and further details are available on request. We are committed to being completely transparent on the costs that you may incur when investing, and are very happy to help clients in making comparisons between the costs of our services and our competitors. We provide ongoing advice and reviews to make sure your goals are realised. Shown below is an example of the ongoing service received by financial planning clients using our discretionary investment management service: An annual review meeting with your financial planner and investment manager (with more frequent meetings available on request) Telephone and access to your financial planner and investment manager Proactive contact when changes to legislation present opportunities or threats to existing strategies Investment changes are made on a proactive basis the investment committee reviews asset allocation every quarter and your discretionary manager reviews your investments daily Online access to portfolio valuations, updated every 24 hours A Personal Balance Sheet showing all of your assets (not just those managed by Tilney Bestinvest) securely online, updateable by you Consolidated tax voucher showing dividends, capital gains and any income produced is sent annually which can then be added to your tax return Six-monthly written valuations which include a review of short-term and long-term performance and our latest views on the outlook for investment markets 6 Financial planning

7 Next steps The Institute of Financial Planning has a list of questions you should ask a potential adviser, such as: What is their approach to financial planning and investment management? How much do they charge? What qualifications do their advisers have? At Tilney Bestinvest we are totally confident we can give satisfactory answers to all these questions, and hope that you will choose us to help you fulfill your goals and address any financial concerns. Whatever your goals or concerns, we are here to help you. Choosing a financial adviser is one of the most important decisions you will make, with significant implications for your future and financial well being. It s vital to make sure you choose a company that understands what you want from wealth and puts your interests first. To learn more about how we can help, please call us on or us at info@tilneybestinvest.co.uk tilneybestinvest.co.uk info@tilneybestinvest.co.uk 7

8 NEXT STEP Call us on or tilneybestinvest.co.uk The Tilney Bestinvest Group of Companies comprises the firms Bestinvest (Brokers) Ltd (Reg. No ), Tilney Investment Management (Reg. No ), Bestinvest (Consultants) Ltd (Reg. No ) and HW Financial Services Ltd (Reg. No ) all of which are authorised and regulated by the Financial Conduct Authority. Registered office: 6 Chesterfield Gardens, Mayfair, W1J 5BQ. TBWMFPG IMPORTANT INFORMATION The value of your investment can go down as well as up and you can get back less than you originally invested. Prevailing tax rates and reliefs are dependent on your individual circumstances and are subject to change. This document does not constitute personal advice. If you are in any doubt as to the suitability of an investment, please contact one of our advisers.