Financial Advisor Shrewsbury - Paul Humphreys Of Lighthouse Financial AdviceServices We Offer
Financial Advisor Shrewsbury, Shropshire – Paul Humphreys, Professional Financial Advice Shrewsbury, Oswestry, Telford And Surrounding Areas
As a professional Financial Advisor Shrewsbury, I am backed by the extensive knowledge and experience of Lighthouse Group, one of the most-respected financial advice companies in the UK, I can provide advice on most areas of financial planning including:
Mortgages* and borrowings
Many people pay more than they need to. Are you one of them? I can provide independent mortgage advice from the whole of the UK lending market for first-time buyers, buy to lets, remortgages, semi-commercial and commercial mortgages. I can also advise on the government’s home-buy schemes. Other areas of finance which I have experience in are secured loans, bridging finance, commercial funding and asset finance. If you haven’t already done so, this is a good time to review your mortgage. I may find that you are paying more than you need to, perhaps because your original deal has come to an end. Also, if you want to move to a larger property or extend your current home I can help you secure the additional funding you require.
*Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it. Business Buy to let and commercial mortgages are not regulated by the Financial Conduct Authority.
Having policies in place so you and your family don’t suffer financially should the worst happen. It’s a good idea to protect your income when you take on financial responsibilities such as buying a house. In addition to life insurance, you need to consider what would happen if you weren’t able to work due to illness or injury.
How would your family survive if it had no income? Starting a family is when people decide to protect their income in case they are made unemployed, become seriously ill, or die. I can find policies which provide the type and level of cover you require – you may be surprised how affordable they are.
Drawing your pension
Taking advantage of the various options available to you so you can enjoy a comfortable retirement. You have far more flexibility now in how you take your pension. However, deciding how to secure your income you need for the rest of your life is one of the biggest decisions you will ever have to make. Once you have made your decision it may well be impractical to change it and making the wrong decision could have costly and far-reaching consequences.
How much money do you have? What can you do with it? What can’t you do with it? How can you get the income you need? And be sure that income will last the rest of your life? You might be tempted to take a tax-free lump sum when you retire, but how would this effect your retirement income? Should you draw your income from your pension fund or buy an annuity – an income for life? Annuity prices vary considerably, so shop around to get the best deal. You could receive substantially more income if you are considered to be above-average risk. Would you prefer a guaranteed or variable income? What about your dependants? Would you like them to receive income when you die?
I help people take control of funding their retirement. I will explain what provision you already have and how you could supplement it, depending on your occupation . Now is the time to make sure your pension plan is on target to provide you with the income you need to enjoy the lifestyle you are expecting when you retire. If it isn’t, what can you do to plug the shortfall? If you have changed jobs and have money in a number of different pension pots, it could make sense to consolidate them into a single plan. I am able to review any pensions free of charge.
*Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation. A pension is a long term investment.
Final Salary Schemes
If you are in a final salary/defined benefit/company pension scheme should you take the benefits from the scheme pension or alternatively consider transferring to a flexible pension to take advantage of the new ‘Pensions Freedom’ legislation. I hold the appropriate licence to advise in this area and can guide you through the maze and provide a suitable recommendation taking into consideration your priorities and objectives.
Savings and Investments*
Putting your spare cash to good use to build and conserve your wealth efficiently. Income will probably be your priority, so make sure your investments are generating as much as possible. However, you may also want to make sure they maintain their value as well, in case you need extra money in the coming years or so you can pass on more to your family. I can help you work out how much you need to save/invest and recommend funds suitable for your objectives and attitude to risk. Tax efficient products such as ISAs, which the government created to encourage us to save, can help your money grow faster.
*The value of your investments can go down as well as up, so you could get back less than you invested.
Inheritance Tax Planning*
Inheritance tax now reduces the wealth of many families. Do you understand how it will affect yours? Are the Wills of family members up-to-date and tax-efficient. I can explain how to legally avoid this voluntary Tax. Inheritance Tax Planning I find is not on many peoples’ bucket list, however it should be commenced as soon as possible. I am able to offer a complimentary Inheritance Tax Review which will establish what potential tax liability you may have and how to legally mitigate or reduce it.
*The Financial Conduct Authority does not regulate Inheritance Tax Advice where there is no investment advice.
Paying for long term care
Most people would like to pass their remaining wealth on to their family, but unless you protect your wealth, including your home, this may not happen. I can explain how you can make provision to pay care home fees, so you don’t have to sell your home to pay for them. I can also explain who should pay for care fees and what options you have if you or a family member needs care. As I have the later life licence, I am able to give impartial advice on care plans and care annuities.
Are you looking into equity release. I have the equity release licence and am able to provide independent advice on a range of suitable equity release products. I can explain how later life mortgages work and if appropriate, recommend suitable options.
Equity release may not be right for everyone. It may affect your entitlement to state benefits and will reduce the value of your estate.
For an initial discussion, please call Paul Humphreys, Financial Advisor Shrewsbury on 0800 59774 33.
Complying with your duties as an employer, protecting your business and motivating your employees could cost less than you think. If you have not reviewed these areas in the last 18 months, it could be detrimental to your business.
Our auto-enrolment services are not regulated by the Financial Conduct Authority but will comply with the requirement of The Pensions Regulator.
Financial Advisor Shrewsbury - Contact Us
Financial Advisor Shrewsbury – Paul Humphreys Of Lighthouse Financial Advice
Mobile: 077111 36660
Office: 0800 59774 33