01278788646 enquiries@pwcltd.co.uk

Financial Planning

What is financial planning?

Financial Planning aims to give our clients objective assistance in organising their personal or corporate financial affairs to more readily achieve their financial and lifestyle goals.

This can lead to the recommendation of specific contracts or policies, eg life assurance or a personal pension, but initially it will result in the production of a plan devised specifically for each client, focussing on strategy and goals.

 

The  six step financial planning process

  1. Introduction
  2. Discovery
  3. Analysis
  4. Recommendation
  5. Implementation
  6. Aftercare

Introduction

The 30-minute initial meeting is at our expense with no obligation. The objective is to allow you the opportunity to share with us your aims and objectives and allow us to explain how we can assist in achieving your goals.

  • We complete a full fact find to establish your current circumstances and priorities.
  • We use a Risk Profiler Questionnaire in order to help determine your attitude towards investment risk.
  • We explain our services and costs. We ask you to sign a client agreement to agree the basis upon which to proceed.
  • We ask you to sign a letter of authority. This enables us to obtain information about your existing financial arrangements.
  • We outline the identity verification requirements to meet anti-money laundering rules.
  • We agree the action and next meeting date.
  • This meeting is at our expense.

Discovery

  • We obtain full information regarding your existing affairs. We build up your present position in a range of different areas dependent upon circumstances including asset allocation, income, taxation and pension provision.
  • We obtain full information regarding your existing affairs from your existing financial providers.
  • For investments we consider your existing fund selections, costs and levels of income to model your asset allocation.
  • For pensions we review your current arrangements, contributions, projection at retirement and any important contractual benefits.
  • For those approaching retirement, establish the options available from the existing schemes.
  • For those requiring financial protection, examine the benefits provided by existing arrangements.
  • In all circumstances we take into account the taxation position.
  • Before we start work, you will have signed our Client Agreement because you are comfortable with the cost of this stage of the journey.

Analysis

Having considered your circumstances, established the options from your existing arrangements and reviewed these against the open market, we provide a written report.

You benefit from our Knowledge, Advice, Time, Experience & Expertise.

  • For investments we remodel your asset allocation based on your risk profile and our own asset allocation rules.
  • For pensions we determine scope for greater provision and we explore the most appropriate structures to meet your goals.
  • For those approaching retirement we investigate the most suitable options for your circumstances.
  • We calculate taxation savings available or allowances and reliefs not being utilised.
  • In some cases, cash flow modelling is undertaken.
  • Opportunities for consolidation are evaluated where benefit outweighs the cost.
  • The fee for this will be identified in our Client Agreement.

Recommendation

The second meeting explains the recommendations we make in order to achieve your aims and objectives. We shall discuss how to proceed and you can decide upon the next steps.

We will prepare a written report for you with our proposals, usually presented at a meeting, which can include

  • Proposal of an asset allocation suitable for your risk profile
  • Recommendation of suitable funds to meet the asset allocation
  • Product structures appropriate to your taxation position
  • Offering a range of retirement options
  • How to maximize the use of your pension fund
  • Suggesting ways of legitimate tax mitigation
  • Streamlining the administration of your affairs where it is cost effective to do so
  • Strategies to protect your assets where appropriate
  • Cash flows for care fee planning
  • Our charges will be in line with the Client Agreement.

Implementation

  • Administration of the agreed actions including
  • Completion & submission of application forms
  • Tracking progress and regular chasing of product providers
  • Dealing with any queries from product providers
  • Production of policy documentation
  • Record keeping
  • Fees will be as detailed in our Client Agreement.

Aftercare

We offer a range of aftercare services depending upon the nature of the financial arrangements and the complexity of the client’s affairs. We pride ourselves on being alongside you for the whole journey and the quality of our Aftercare is based on our years of experience. We know that most clients benefit from some form of aftercare or on-going service. The level is personal to you and will depend upon the types of arrangements and complexity of your affairs.

Therefore, we offer four different levels of aftercare depending on your individual needs as detailed below.

Basic Aftercare

  • Maintenance of records
  • Three newsletters per annum
  • Access to publications and news through our website
  • Notification of any substantive change in investment funds
  • This is provided at our expense

Core Aftercare

  • Maintenance of records
  • Three newsletters per annum
  • Access to publications and news through our website
  • Annual Review invitation
  • Advisor contact by telephone, by email or by post for advice and guidance: general queries on existing portfolio of up to one hour per annum
  • Notification of any substantive change in investment funds
  • For fund platform clients, annual invitation to switch investment funds into an ISA
  • For pension fund drawdown clients taking income, internal monthly monitoring of fund value
  • Core Aftercare is charged at the greater of £600 per annum or 0.5% of assets under advice

Enhanced Aftercare

  • Maintenance of records
  • Three newsletters per annum
  • Access to publications and news through our website
  • Annual Review invitation
  • Advisor contact by telephone, by email or by post for advice and guidance: general queries on existing portfolio of up to two hours per annum
  • Notification of any substantive change in investment funds
  • For fund platform clients, annual invitation to switch investment funds into an ISA
  • For pension fund drawdown clients taking income, internal monthly monitoring of fund value
  • Thirty minutes contact with other professional advisers yearly
  • Sundry general administration as required (for instance assistance with paperwork, or on the death of a spouse/partner) for one hour per annum
  • Enhanced Aftercare is charged at the greater of £1,500 per annum or 0.5% of assets under advice

Bespoke Aftercare

  • Maintenance of records
  • Three newsletters per annum
  • Access to publications and news through our website
  • Annual Review invitation
  • Advisor contact by telephone, by email or by post for advice and guidance: general queries on existing portfolio of up to two hours per annum
  • Notification of any substantive change in investment funds
  • For fund platform clients, annual invitation to switch investment funds into an ISA
  • For pension fund drawdown clients taking income, internal monthly monitoring of fund value
  • Thirty minutes contact with other professional advisers yearly
  • Sundry general administration as required (for instance assistance with paperwork, or on the death of a spouse/partner) for one hour per annum.

And your choice from

  • Up to quarterly portfolio valuations
  • Up to three one hour adviser meetings per annum
  • Up to one hour additional contact with other professional advisers per annum
  • Reduced fees on variations to existing platform business
  • Bespoke Aftercare is charged at the greater of £4,000 per annum or 0.5% of assets under advice.

What is an ‘Annual Planning Invitation’

This is a formal invitation encouraging clients to use their aftercare service. A written portfolio report is provided to those who respond, including progress of funds and updated asset allocation, and an assessment of ongoing suitability. If there are any areas of concern, these will be identified. If further work arises from this exchange, such as changes to the existing portfolio, you will be notified of any additional charges.

You might like to browse our Resources, within this section, helpful in starting to consider financial matters at your stage of life.

      CII Chartered logo

Positive Wealth Creation Ltd is authorised and regulated by the Financial Conduct Authority. Financial Services Register No: 481182 http://www.fca.org.uk/register.

Positive Wealth Creation Ltd Registered Address: 55 Victoria Street, Burnham on Sea, TA8 1AW. Registered in England & Wales, No. 4802683.

Neither Positive Wealth Creation Ltd nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at http://www.financial-ombudsman.org.uk.

The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.

Please read our Privacy Statement before completing any enquiry form or before sending an email to us.