Wealth Management Portfolio Management Inheritance Tax Trusts Trustee Investments Probate Administration Tax Accountancy Retirement Planning Wills

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1 Wealth Management Portfolio Management Inheritance Tax Trusts Trustee Investments Probate Administration Tax Accountancy Retirement Planning Wills Powers of Attorney

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3 Welcome to Fogwill & Jones Asset Management, Limited. Fogwill & Jones is known for exceptional, one-to-one, tailor made independent financial advice. Offering a truly personal service, our experienced team are on hand to speak with you personally regarding any aspect of your financial matters, helping you achieve the financial independence you need to protect you, your family and your future. We understand that your investment requirements are not the same as anyone else s, that is why we always analyse your financial situation and create a targeted solution aimed at meeting your unique needs. Our team pro-actively manage your portfolio, constantly monitoring investments and fund managers to ensure that your portfolio both reflects and supports your changing needs. We truly believe in the power of listening and meet with prospective clients, creating an inclusive picture of where you are now and where you want to be in the future before recommending a clear investment path and strategy. The following pages expand a little more on the comprehensive selection of wealth management services we offer and explain what you can expect if you become a client of Fogwill & Jones. I hope the content is of interest and look forward to welcoming you as a client in due course. In the meantime, if you would like to know more about us, please do not hesitate to get in touch; or visit our website at Thank you for your interest. Colin Fogwill, IMC Director 3

4 History Colin Fogwill, IMC has worked within the finance industry for over twenty-five years. Starting his career with Sun Life in 1985 (Sun Life later merged with AXA) Colin rapidly came to specialise in Investments and Tax Planning. In 2000, Colin s belief that financial services companies should offer their clients a truly independent service and not be tied to one company s products lead him to leave AXA and he founded Fogwill & Jones. For more than ten years Fogwill & Jones have expanded the range of services offered to clients, creating a comprehensive suite of in house services designed specifically to meet the unique needs associated with wealth management. Fogwill & Jones are able to provide independent financial advice in such diverse areas as: Portfolio Management Discretionary Fund Management Inheritance Tax Trusts Trustee Investments Estate Planning Retirement Planning Wills Tax Accountancy (including online Tax returns) Power of Attorney Probate Administration 4

5 Comprehensive Service Here at Fogwill & Jones, we understand that there is more to a relationship than merely advising or managing your portfolio. We offer a comprehensive, tailor made solution aimed at meeting the diverse variety of financial and taxation needs associated with true wealth management. Our comprehensive range of services includes creating trusts for children, grandchildren and great grandchildren, Tax mitigation schemes, portfolio management, planning for your retirement and giving advice on Wills; these are just a few of the services we offer. We excel in assisting our clients with many aspects of wealth management in house, this includes areas such as financial, legal and accountancy advice. Having these services available in house can remove the need, in some instances, for working separately with a solicitor, accountant or financial planner; allowing you the convenience of having one point of contact to guide you. Whatever stage of your financial life you are in right now, we will work with you to legitimately mitigate the various taxes that could apply as you get older, such as Capital Gains Tax and Inheritance Tax (including probate administration). Our dedicated team are committed to making your financial planning as straightforward as possible in an honest, friendly manner. There are no automated telephone messages. Call us and speak with one of our experienced staff and see if we can put together the pieces of your financial puzzle in one, comprehensive company. It should be noted that the Financial Services Authority does not regulate Wills, Trusts or Tax advice. 5

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7 Portfolio Management Fogwill & Jones believe that there are five key areas a Portfolio Manager needs to fully understand in order to help you achieve the best from your investment strategy: Identifying your needs and objectives Outlining your assets and liabilities Establishing your income and expenditure Defining your priorities Understanding your attitude to risk Consider your Tax position Because Fogwill & Jones are Independent Financial Advisors, we are able to craft an investment plan that is not tied to any Bank, Building Society, Insurance Company or Fund Manager offering you what we consider to be the most independent and comprehensive advice possible. Fogwill & Jones offer two separate types of Portfolio Management: Discretionary and Advisory Management Discretionary Management Discretionary Management is where investment decisions are made by Colin Fogwill and implemented immediately. This service is managed personally, allowing your investment objectives to be respected. Discretionary Fund Management is a very popular option for clients who wish to have their investments monitored on a daily basis without being tied to the global markets themselves. All assets are held in a segregated nominee account and protected from any company going into liquidation. There is also a significantly reduced amount of paperwork compared to an advisory service, however you will receive bi-annual valuations. Discretionary Portfolio Management allows you the luxury of not having to constantly monitor your investments; the team at Fogwill & Jones are doing it for you. You worked hard to get where you are, now is the time to enjoy it! Advisory Management Advisory Management allows you to make your own investment decisions and be responsible for the day to day running of your portfolio. 7

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9 Inheritance Tax and Trusts Inheritance Tax (IHT) is a Tax paid on the estate of a person who has died with assets valued at more than 325,000, including property. In the 2011 Budget, the Government confirmed this amount will remain frozen at 325,000 until at least 2014/2015. The first 325,000 of an estate is not subject to Inheritance Tax and is known as the Nil Rate Band, however anything above the 325,000 threshold is taxed at a rate of 40%. When including the value of property and assets, more and more people are finding themselves unwittingly above the 325,000 threshold and are placing themselves in a situation where part of their estate may have to be sold, or payment arrangements made (usually by a bank loan) to settle Inheritance Tax bills on a death. It is estimated that Inheritance Tax raised 2.7 billion for the Government in 2010/2011 and many people just accept it has to be paid, wrongly assuming there is nothing that can be done to mitigate it, but that is not the case; there may be several steps that could potentially eliminate exposure to Inheritance Tax including writing a will, utilising tax efficient gifts and the use of trusts. Trusts are not just for the very wealthy, there are several different types of trust that could be structured to best suit your personal needs. 9

10 Tax Accountancy As Albert Einstein said The hardest thing in the world to understand is the income tax and it seems that, as Britain has one of the most complex Tax systems in the world, in this instance little has changed. Here at Fogwill & Jones we are dedicated to helping our clients navigate the often complicated British Tax laws, rules and regulations, especially concentrating on those that are synonymous with wealth management (for example: Income Tax, Capital Gains Tax and Inheritance Tax). Our thorough understanding of the nuances of these complex laws is a cornerstone to the service we offer, in summary, we actively work on your behalf to legitimately reduce the amount of Tax you pay. Tax accountancy is also vitally important from a probate administration point of view as there are several calculations that need to be done which, in some cases, can result in a repayment of taxes rather than receiving an Inheritance Tax Demand. Fogwill & Jones experienced team have a proven track record of working with clients to take advantage of the many legitimate ways to mitigate their exposure to Income Tax, Capital Gains Tax and Inheritance Tax, where applicable. 1 0

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12 Lasting Power of Attorney A Lasting Power of Attorney is a legal document that allows you to appoint one or more people to manage your financial affairs or health welfare should you not want to make decisions, or become incapable of doing so. A Lasting Power of Attorney is not valid until it is registered with the Office of the Public Guardian. The Government introduced the Lasting Power of Attorney on October 1st, 2007 and it is comprised of two documents: Lasting Power of Attorney Property and Affairs Lasting Power of Attorney Health and Personal Welfare Lasting Power of Attorney Property and Affairs This document covers aspects relating to your property and financial affairs and allows someone else to manage and make decisions in these areas either while you still have capacity, with your permission, or when you lack capacity. Matters covered within the document include: Looking after all your assets (including property, assets, income, etc) Lasting Power of Attorney Health and Personal Welfare This document covers aspects relating to your health and personal welfare and would only come into action if you lack the capacity to make decisions yourself. Decisions that could be made on your behalf include: Where you live What medical care you receive (including life sustaining decisions) Day to day decisions Why is a Lasting Power of Attorney essential? If you do not have a Lasting Power of Attorney, correctly registered with the Office of Public Guardian, the Court of Protection will appoint an attorney to make decisions on financial and welfare matters on your behalf. 1 2

13 Probate Administration We understand that when you find yourself needing information on Estate Administration, you are probably suffering the loss of a loved one or dear friend. We want to make the legal process of handling that person s estate as hassle free and painless for you as possible. Fogwill and Jones can complete all the necessary forms (of which there are many), keep in contact with all the Government Offices, Life Offices, Banks, Building Societies and anyone else needed to complete the estate details on your behalf. Our experienced staff will, in short, take the worry out of the whole process of probate for you. It may be that a Grant of Probate is not required and in order to establish this at the outset we would initially need to know: Is there a Will? If there is a Will Who are the Executors and Trustees? If there is no Will Who is the next of kin? If there is no Will, the next of kin will become what is known as the Personal Representative(s) and the estate will come under the laws of intestacy, however the process is the same as obtaining a Grant of Probate. Our staff will help establish whether the estate is straightforward and if probate can be dealt with by you or whether the Executors/Personal Representatives need help or indeed for us to do it on their behalf. Obtaining probate is a legal requirement Let our professional Probate Administrators and Tax experts take away the stress and complicated form filling for you. Our charges are on an hourly rate basis and in addition, unlike some Solicitors we do not charge a percentage of the estate value on top of this hourly rate. 1 3

14 Tailor made packages You are unique, as are your investment objectives. At Fogwill & Jones we understand this and work tirelessly to ensure your investment portfolio is exactly right for your wealth management needs. Our personalised approach ensures that we gather as much information about your current situation and financial aims as possible. We work with you to gather comprehensive data on various aspects of your life including: Family Home Work or retirement Investments Our dedicated staff follow this discovery process with an analysis of your investments, Tax and legal situation before making a completely independent recommendation based on your individual requirements. Once we have optimised your investment strategy, our service to you does not stop. We believe that as your life changes so do your investment aims. The team at Fogwill & Jones monitor the global markets daily and are on hand to pro-actively manage your investment portfolio to reflect your changing circumstances as well as advise you on changes in legislation and Tax law. Next Steps If you would like to know more about any of our investment or wealth management services please contact us: Contact details Fogwill & Jones Asset Management, Limited DeVere House 4 Acorn Business Park Sheffield S8 0TB Telephone: Website: info@fogwilljones.co.uk 1 4

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16 DeVere House, 4 Acorn Business Park, Sheffield, S8 0TB, England Tel: Fax: info@fogwilljones.co.uk Web: Director: C. Fogwill Company Secretary: M. Abrahams Company Registration Number: VAT Registration Number: Authorised and regulated by the Financial Services Authority. Registered in England and Wales. FSA Number