What is a financial plan and what does it look like?
A financial plan is the landscape of your current finances, your financial goals, and any strategies you've set to achieve those goals. Good financial planning should include details about your cash flow, savings, liabilities, investments, life cover, and any other elements of your finances. It is also highly personal. It considers your personal situation (if you’re married, single, have children or other dependants), risk tolerance, commitments, and any other aspects of your life that can influence your finances. It is meant to create a unique path that, if you stick to it, will lead you to your ultimate financial goal.
I am not sure what my objectives are – can you help me?
Yes. Some of our clients initially find it difficult to articulate what they want to achieve. We can help you ascertain what your objectives are.
Do Lovewell Blake Financial Planning Limited hold my money?
No, we do not hold custody of any client assets.
Do Lovewell Blake Financial Planning Limited have an investment committee?
Our investment committee meets regularly to review the current investment landscape to determine if any changes need to be made to our Centralised Investment Proposition.
Can I access my portfolio online?
Not directly through a Lovewell Blake Financial Planning portal; however, most of the providers we deal with offer online functionality for investors to view their plans.
How are my assets covered under the Financial Services Compensation Scheme?
The Financial Services Compensation Scheme (FSCS) is the UK’s compensation fund of last resort for customers of authorised financial services firms. They may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This is usually because it has stopped trading, or been declared in default. A wide range of financial products and services such as deposits, investments, pensions, financial advice and insurance is covered.
Different compensation limits apply.
Further information about this compensation scheme arrangement is available from the FSCS website.
Following our articles in December and February, the Bank of England (BoE) has responded to the likelihood that the war in Ukraine will push inflation to around 10% in autumn by raising interest rates to a level last seen in March 2020, before the COVID-19 pandemic took hold.
The first Review of State Pension age was undertaken in 2017 but the government has now launched a second pension age state review, which will consider whether the increase to age 68 should be brought forward to 2037-39.
For pensions, the Lifetime Allowance (LTA) is the overall limit of pension funds a member can accrue during their lifetime, and which will benefit from favourable tax treatment before an LTA tax charge applies.
Over the last few days, tension has intensified between Russia and Ukraine. We wanted to take some time to position what’s happening between the two countries and what this could mean for investors.
Following our article in December the Bank of England (BoE) has tightened the squeeze on household finances with its first back-to-back interest rate rise since 2004, as the central bank forecast inflation will increase to north of 7% in April.
Recently published figures showed that the cost of living rose by 5.1% in the 12 months to November, its highest rate in 10 years.
In 2012, due to concern that the UK population weren’t taking adequate measures to save for their retirement, the Government took the radical measure of introducing auto-enrolment.
Following the implementation of the EU Fifth Anti-Money Laundering Directive (5AMLD), there is a requirement for certain trusts to be registered on a central government list. This is called the Trust Registration Service (TRS), and when it was initially introduced in 2018, many non-tax paying trusts were exempt from registering.
Pension Freedoms was introduced in April 2015 and significantly changed the landscape of pensions and retirement. Ever since its introduction, there remains some misconceptions about what this really means, and the practical implications it has for individuals.
A growing number of investors are seeking ways to invest tax-efficiently in places other than their pensions and ISAs, usually because they have already fully used their ISA allowances, and significant pension contributions have compounded over the years.
Many of us could be caught out by Inheritance Tax (IHT). Contrary to popular belief, you do not need to be mega-rich to owe HMRC a chunk of money when you die. I think most of us would prefer as much as possible to go to our loved ones, rather than HMRC.
In 2020, the state pension age officially increased to 66; however, recently there has been several news articles and commentary around the government’s triple lock promise and that this could mean an 8% increase in the state pension from April 2022.
Employers that push staff into making unsuitable defined benefit transfers should beware the “Financial Conduct Authority’s (FCA’s) gaze”, a director at the regulator warns.
As we enter a new tax year, many people will be wondering how they can make their savings work harder for them, with interest rates at historically low levels.
Covid savers should be making the most of their pensions allowances, says Sharon Mattheus of Lovewell Blake Financial Planning.
For some, retirement might feel miles off, but the sooner you can start saving for it, the better.
What do I need to do?
Following our article in October, where we advised that the State Pension had officially increased to age 66, we wanted to take this opportunity to position further changes announced around private pension access – that were shared in September.
A Bury St Edmunds based financial adviser has been named as one of the UK’s most influential businesswomen by a leading business publication, carrying off the title of UK Financial Adviser of the Year.
Financial planners and advisers Lovewell Blake Financial Planning, which for the past three years has been listed as one of the Top 100 Financial Planners in the UK by the Financial Times, has appointed Sharon Mattheus as a Financial Adviser.
The extraordinary fundraising achievements by the 100-year-old Captain Tom Moore have shown just how long some of us will lead active lives, and also how much the quality of such a long and active life will depend on how well we have planned for it.
An East Anglian firm of financial planners has been named as one of the UK’s Top financial advisers by the Financial Times for the third year running – achieving a rating of 28th in the country, up from 72nd in 2019.
Financial planners and advisers Lovewell Blake Financial Planning, which for the past two years has been listed as one of the Top 100 Financial Planners in the UK by the Financial Times, has appointed Richard Ince as a financial adviser.
In short, it depends where and how you are invested. Since the markets saw a dramatic fall in March, it has been a bit of a choppy ride in general.
A tracker fund is a simple way of investing your money in company shares, bonds, and other assets.
In recent weeks’, we have seen an upward trend in media activity regarding pension scams in the UK. Fraudsters are using sophisticated ways to deceive savers to part with their retirement savings using various means of communication.
In March, the Bank of England unveiled its second interest rate cut in under two weeks, as part of a number of measures the central bank and UK government rolled out to help mitigate the economic impact of the Coronavirus.
Without careful financial planning, you may find that much of the wealth you spent your lifetime creating may be taken in tax rather than being passed to your loved ones.
An East Anglian firm of financial planners has been named as one of the UK’s Top financial advisers by the Financial Times for the second year running.
We are living in a world where it is not unusual for individuals to actively look for ways to reduce their impact on the environment; for example, only last month we saw children leading protests against climate change all over the world, taking the lead on an issue that affects all of us.
An East Anglian firm of financial planners has been named as one of the UK’s Top 20 financial advisers by the Financial Times.