Financial Services / Private Clients
The right amount of money, in the right hands, at the right time.
Bespoke and personal financial advice and wealth management for our premium private clients.
At every stage of your life you will spend some time contemplating the future. We aim to place our clients in a position of financial security now and build financial strength ready for your future needs.
Future financial security is about planning for a better future and can be enhanced through considered use of different investment products in conjunction with your personal tax allowances. Each is advised, so that their investments are tax efficient and appropriate in their circumstances.
To learn more about the different types investment and their tax treatment please register you interest.
Current financial security is about planning for when you suffer a significant setback that threatens to undermine you, your family and your future plans. Beechwood gives advice when choosing the right type of insurances to specifically cover your liabilities.
To learn more about the different insurance contracts that are available, please register your details to access the information.
Financial planning and cash flow analysis are the tools we use to help clients plan for the future. To turn these plans into reality we can advise on the appropriateness of a variety of products such as:
- ISA’s / Unit Trusts / Open Ended Investment Companies / Structured Products / Insurance Investment Bonds
- Stakeholder Pensions / Personal Pensions / Self Invested Personal Pensions / Small Self Administered Schemes / Group Personal Pensions
- Equity Release Mortgages / Home Reversion Plans
- Enterprise Investment Schemes / Venture Capital Trusts / Business Property Relief
- Life Insurance / Income Protection Insurance / Critical Illness Insurance / Family Income Benefit Insurance
- Inheritance Tax Management
- Mortgages
- Investment Products
- Pensions
- Insurance Contracts
- Equity Release Schemes
ISA
An ISA is a way of investing money that the government permits individuals to do, so that any growth or income generated is not subject to tax. Individuals are allowed to contribute £10,200 per year each into an ISA. The entire allowance can be used to contribute into stocks shares and other equity-based investments or half of the allowance can be used for a bank account.
Unit trust/open ended investment Company/investment trust
These are types of collective investment. Investors pool their money with others to be invested jointly under the control of a fund manager who will invest according to defined parameters. Any growth realised from this type of investment can be assessed for capital gains tax, any income generated is taxed as the marginal rate.
Structured products
These are contracts offered by banks and other investment houses, but will seek to deliver a return that is related to a particular stock market index and may or may not offer some form of capital protection in the event that index should fall in value.
Insurance investment Bond
These are single premium life-insurance policies that will pay out the value of the underlying investment at the time of death of the client or life assured. These plans may be held on the shore and subject to UK income tax, or held offshore so that no tax is paid until money is returned to the UK in excess of certain allowances.
Enterprise investment scheme, venture capital trust & business property relief.
These investments historically have carried a high degree of risk but are encouraged by the government who provides a series of tax incentives to encourage investment in smaller companies. These tax incentives are at least equally as important as the potential investment returns.
To learn more about group pensions for employees, please firstly register your interest and then access information here.
Alternative Investments
For experienced and high net worth investors we can access a range of audited and approved alternative investments that can bring specific opportunities for some clients.
Stakeholder Pensions
Stakeholder pensions are a form of personal pension which meets prescribed rules as laid out by the government. These rules dictate the costs and access that must be offered by the pension scheme. Historically such schemes are usually of a simpler nature with a more restrictive range of choices offered in order to achieve the lower level of costs.
Personal Pensions
A personal pension is a type of savings scheme that uses government rules to encourage long-term saving in preparation for retirement. A pension allows an individual to recover the tax paid on the contribution into the scheme. The pension scheme does not suffer capital gains or income tax whilst it is invested. Pensions can be accessed from the age of 55 and can give the client up to 25% of the fund as a tax-free lump sum. The balance must be used to generate an income in retirement.
Self Invested Personal Pensions (SIPP)
A self invested personal pension offers the client the opportunity to invest in the full range of permitted investments for pensions. Frequently this will involve the purchase of commercial property by the pension scheme, sometimes using a loan. Other assets may be bought by the pension scheme subject to government restrictions. These schemes are also used when a client does not wish to purchase an annuity at the time of retirement and instead decides to remain invested to generate their retirement income.
Small Self Administered Schemes (SASS)
These pension schemes are very similar to a SIPP but are in effect owned and run by a business. The primary advantage of such schemes is their ability to loan money back to the business at commercial rates. If you are an owner/director and would like more information about a SASS please contact Beechwood to arrange an initial meeting.
Group Personal Pensions
Group Personal Pensions are the means by which employers meet their responsibilities and obligations to provide retirement plans for their employees. If you are an employer and would like to discuss how the government’s latest pension rule change affects you, contact Beechwood for a no obligation, no cost initial meeting.
NEST – National Employment Savings Trust
The NEST will be introduced over a 4 year period, commencing on 1 October 2012. An employer will be required to automatically enrol eligible employees into a qualifying pension scheme. The auto-enrolment date will depend on the size of the employer. The employer must offer the scheme to all jobholders aged over 22 and who are earning more than £5,035. When an individual is enrolled in NEST they must contribute 4% of their relevant earnings and the employer must contribute 3%. 1% is given to the scheme as tax relief from the government.
Employers can choose to offer their own alternative pension scheme, if it meets or exceeds the minimum standards laid out in the Pensions Act 2008.
Lump Sum Insurance
This insurance, gives you the peace of mind of knowing that should you die unexpectedly your debts and liabilities will be paid off giving your loved ones free of your responsibilities. It can also leave behind a lump sum of money that could help your family and loved ones rebuild you have gone.
Income Replacement Insurance
If you die while your family and loved ones are still dependent on you financially, this type of insurance can provide a regular monthly tax-free amendment to replace your lost earnings. Typically this is discussed in terms of £1000, £2000 or £3000 per month provision for your family. This insurance provides a great value for money and peace of mind for you and your loved ones.
Critical Illness option
Lump sum and income replacement insurance can also be specified with a critical illness element. This means that should you be diagnosed with one of the defined conditions such as cancer, heart attack and stroke this policy would pay out either a lump sum or income replacement amount that would allow you to focus on your family and your healing rather than rushing to return to work.
Long term sickness income protection
The current state provision for long-term incapacity payments is currently set at under £500 per month. If your employer does not pay more than statutory sick pay or if you should suffer an illness or injury that means you are unable to return to work before you're sick pay runs out, this policy could pay to you up to 60% of your gross earnings for the rest of the life of the policy.
To discuss your individual protection needs called Beechwood to arrange your initial meeting.
The increasing costs of living in retirement possibly means that you are not having a as much fun as you thought you would. When this is combined with falling house prices and sluggish sales you may have little opportunity to downsize your property to release cash. Equity release is the process by which homeowners can borrow money against the value of their house, and not repay it until the time of their death or transfer into long-term care accommodation. There are many options available such as the amounts and frequency of any draw down that is taken. There are also two different ways of structuring the contract; lifetime mortgages and home reversion schemes.
A lifetime mortgage is a loan that incurs interest which is then added to the loan each month. This means that the loan will continue to grow and grow at an expodential rate until it is repaid at the sale of the property when the borrower has died or moved into care.
A home reversion scheme is a sale and guaranteed leaseback arrangement that transfers the house to a new owner who pays a below market value for the property and gives a guaranteed right of occupancy until the client has died or moved into long-term care.
