A Bespoke Wealth Management Service for Senior Executives

Transcription

1 A Bespoke Wealth Management Service for Senior Executives presented by Germain Financial Associates Partner Practice of St. James s Place Wealth Management

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3 Initial Proposal Introducing Michelle Germain and Stephen Germain Introducing St. James s Place Wealth Management Introducing Germain Financial Associates Our Wealth Management Services What makes us different? A bespoke service for Senior Executives Next Steps and contact details

4 Introducing Michelle Germain, DipPFS Pensions, Business & Retirement Planning Expert Principal of Germain Financial Associates which is a Partner Practice of St. James s Place Wealth Management Michelle is a highly experienced wealth adviser Specialist in Retirement Planning, including Drawdown, for over 15 years Holds Advanced Qualifications in Pensions and Retirement Options Builds long-term client relationships

5 Introducing Stephen Germain Tax, Trust and Estate Planning Expert Principal of Germain Financial Associates which is a Partner Practice of St. James s Place Wealth Management Stephen has worked in financial services for over 25 years Has extensive knowledge of the Income Tax regimes faced by High Earners Specialises in helping clients to protect and grow their wealth through economic cycles, whilst minimising their tax liabilities

6 Introducing St. James s Place Wealth Management St. James s Place is a leading Wealth Management company An award-winning, FTSE-250 Company Founded by Lord Jacob Rothschild, Sir Mark Weinberg and Mike Wilson in 1991, commenced trading in billion client funds under management Over 20 million donated to the St. James s Place Foundation

7 St. James s Place Wealth Management Services

8 A clients perspective Michelle has always been on hand with good advice when it is needed. She has seen me through the financial services minefield on a number of occasions and has coped with some tricky pension transactions well beyond my own capability. She is charming and personable and a pleasure to deal with. Her knowledge of financial issues is second to none in my experience and I look forward to working with Michelle and reaping the benefit of her experience for many years to come Andy Booth Client Director, Circle Research "Michelle helped me to rationalise some quite "messy" pension and savings arrangements I had haphazardly built up over the years. She is always clear in explaining options, delivers to time frames and is a very nice person into the bargain. I have recommended her to friends and colleagues." Tim Johnson - Director, EJS Search Ltd "Comprehensive and exceptional financial advice from Germain Financial associates has saved us tax and exceeded all of the financial objectives we required to achieve unplanned, early retirement. We didn t believe that it was possible. Thank you, for your unparalleled efficiency, charm and professional attention. You have changed our lives." David & Rosalie Rye Retired Publisher

9 We put our clients first.

10 What makes St. James s Place different? Emphasis on building long-term, face-to-face client relationships A Distinctive Approach to Investment Management Emphasis on tax wrappers to maximise wealth preservation and creation Tailored solutions for specific issues working with panel of experts to provide the best solution The St. James s Place Foundation Guaranteed Advice* * St. James s Place guarantees the suitability of the advice given by the members of the St. James s Place Partnership when recommending any of the wealth management products and services available from companies in the group.

11 What makes St. James s Place different? The St. James s Place Approach to Investment Management Select (Search, Research, Appoint) Globally Monitor Regularly Change Appropriately

12 What makes St. James s Place different? A distinctive investment research approach People talent, professionalism, independent thinking, entrepreneurial, focused Investment Process - clearly defined, consistent, no undue constraints, contrarian thinking Portfolio - portfolio and trading pattern disciplined & consistent, manager conviction Organisation Efficient asset size, efficient implementation, controls & support functions strong, employee participation, thorough governance/best practice Investment Results - consistent with strategy & risk, identifiable rationales

13 What makes St. James s Place different? The St. James s Place Investment Committee Investment Committee Independent Members St. James s Place Experts Stamford Associates A tangible body using internal & external expertise

14 What makes St. James s Place different? Our approach in action Estimated universe of UCITS hedge funds within next 6 months funds identified via at source research with investment banks 12 - funds left after initial filter based on liquidity, leverage, constrained mandates, volatility 5 - shortlist assessment of fees, managed account availability & capacity 1 - manager recommended on basis of defensive strategy, experience & depth of team, lower end fees & risk management process Date: April 2010 Source: Stamford Associates

15 What makes St. James s Place different? Current Investment Houses

16 What makes St. James s Place different? External Service Providers

17 A Bespoke Wealth Management Service

18 Key questions for you to consider As a city professional, finding the time to manage your personal finances can be challenging. Have you had time to consider any of the following questions? Are your personal affairs set up in the most tax-efficient way? When do you want to retire? Should you take Fixed Protection? How will the current pension legislation affect you? Are your previous pension arrangements working hard for you? How much income do you need when you retire? Have you protected your Pension and Death Benefits for your loved ones? Whatever financial challenges you face, St. James s Place Wealth Management can help you achieve clarity on your business and personal financial ambitions to achieve the lifestyle you require now and during retirement.

19 A Bespoke Service for Senior Executives Individual Financial Planning for You and Your Family Pre-retirement planning opportunities Tax planning Maximising investment opportunities Protecting your income Trust & Estate Planning Portfolio Management

20 Main Pension Rules Annual Allowance (from 6/4/11) 50, % of relevant UK earnings Tax Relief at Marginal rate Carry forward 3 years Flat factor 16 times Lifetime Allowance (from 6/4/12) Fixed protection Triviality 18, m Tax Free Cash 25% Retirement Age 55

21 Fixed Protection Maximum amount of benefit that can be drawn from a pension without paying tax currently 1.8 million (2011/2012) Will reduce to 1.5 million on 6 April 2012 Aggregate limit of accumulated pension funds Includes funds accumulated prior to A Day Funds above the Lifetime Allowance are subject to Lifetime Allowance Charge of 55% or 25% Unless Protection is in place

22 Fixed Protection Urgent Only available until 5 April 2012 To review individuals position for Fixed Protection, we need:- Up to date benefit statement from the active scheme Up to date values of any other DC/money purchase pensions Latest benefit statement from any deferred DB/final salary schemes

23 Fixed protection means opting-out The need for retirement planning remains Subsequent investment planning may include*:- ISAs / Regular contribution Unit Trusts VCT/EIS schemes * The underlying investments are usually held in very small UK companies, as such there is a risk that any of these investments may not perform as hoped and in some circumstances may fail completely. They are only recommended to those who take a high risk approach to their investments.

24 Tax relief until 5 April 2012 Net Cost Gross Contribution 20% tax payer 40% tax payer 50% tax payer 10,000 8,000 6,000 5,000 Any unused allowance carried forward will also receive tax relief at highest marginal rate 24

25 New Carry Forward - Conditions Pay current year s contribution first Carry forward unused allowance from earliest year first Need to have been member of a scheme (no longer requirement to be eligible to contribute) Unused allowance = 50,000 less total pension input for the pension input period ending in the tax year Includes employer contribution Individual needs earnings in 2011/2012 to support contribution No additional forms! Reported by self assessment

26 Carry Forward Use it or lose it? Do your know about Carry Forward? Review previous 3 years pension contributions Maximum fund this year to access unused allowance from 08/09 tax year

27 Drawdown Options Capped Flexible Maximum Income 100% 3 yearly review to age 75 Annual review post age 75 Individual must meet minimum lifetime pension income requirement of 20,000 p.a. Access of whole of drawdown fund without a limit on an annual withdrawal Annual allowance charge on any new pension contributions once application of access to fund accepted.

28 Flexible Drawdown A new term Maximum Income Required MIR MIR set at 20,000 p.a from pensions (can include State Pensions) Once MIR established can take any amount out of the fund Taxed as income in that year Care to understand tax implications Income on Death

29 Tax Year End Planning All clients need to review their retirement arrangements in light of the proposed changes announced by the Government. To do nothing is really not an option.

30 Our Relationship Personal Wealth Management advice for Senior Executives Option to subscribe to topical St. James s Place updates and communications Regular Review Meetings Invitation to exclusive Client Briefings Tailored service agreement to suit your specific requirements

31 Our relationship - Exclusive Communications Quarterly Investor Magazine Exclusive In-House Company Briefings

32 Our relationship - Exclusive Communications Monday Market Bulletins Investment Bulletins Special Investment Bulletins

33 Our relationship Exclusive Client Events

34 Next Steps: Arrange a Confidential Personal Financial Review Register for Wealth Management Communications Find our more about us at:

35 Contact Michelle & Stephen Tel: Web: or scan the Q Reader below Partner Practice is a marketing term used to describe St. James s Place representatives.