Financial Planning

Lovewell Blake Financial Planning Limited offers independent financial planning advice to both individuals and business owners in Norfolk, Suffolk and Cambridgeshire.
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NHS Pension scheme year 2021/22 for GPs
FAQs
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.
Related news
Your NHS pension 'health-check'
2022 will be an important year for members of the NHS Pension Scheme to complete a ‘health-check’ of their membership.

When is it best for me to retire?
Firstly, that’s a great question. The simple answer is that you can retire when you have adequate wealth to do so. This can be a mixture of pensions, savings, investments, and property.

Bank of England raises interest rates for the third time in four months
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.

How can you teach teens about money?
It’s never too early to start teaching young people about money, says Trazer Farnese of Lovewell Blake Financial Planning.

Government to review state pension age for second time
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.
What is the Lifetime Allowance freeze?
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.

What do the tensions between Russia and Ukraine mean for investors?
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.

Pensions, Protection and Investments
In conjunction with Matthew Harrington, financial adviser for Lovewell Blake Financial Planning.

Bank of England announces back-to-back interest rate rises
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.

What is an Exchange Traded Fund (ETF)?
Diversification is of paramount importance in investment success, and one way to achieve it is by buying ‘Exchange Traded Funds’, or ETFs

FCA to introduce new consumer duty
The Financial Conduct Authority (FCA) is set to introduce a new consumer duty to better protect users of financial services.

What is the UK's inflation rate and why is the cost of living going up?
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.

Bank of England raises interest rates to 0.25%
The Bank of England (BoE) has raised interest rates for the first time since the start of the coronavirus pandemic, despite growing concern over the ‘Omicron’ variant.

Proposed NHS pension changes
The NHS Pension Scheme is designed to offer significant value in retirement to people who have chosen to dedicate part, or all, of their careers to serving the public through the NHS.

Charity Investments
The results of the Charity Commission 2021 Covid-19 Survey indicated that 49% of charities have lost income from fundraising activities, whilst 35% have lost income from trading and other income sources.
Planning for the future by saving tax in the present
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.
COP26 shines light on ethical investment
As the COP26 summit gets underway, the world’s attention is focussed on what action we must all take to secure the planet for future generations.

Trust Registration Service (TRS) – Action now required
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.

Understanding 'Pension Freedoms'
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.

More investors looking at benefits of EIS and VCT investing
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.

Tax Increases and Reform in Social Care
Taxpayers in the UK face an increase in taxation from April 2022 to fund long awaited reforms in social care and additional support for the NHS.

What is Inheritance Tax?
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.

Pension scams average losses now over £50,000
According to the latest figures from Action Fraud the average loss from pension scams has reached £50,949 this year.

State Pension 8% Predicted Rise
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.

What is pension tax relief?
Pension tax relief can seem like an alien concept, but it pays to understand what it is and how you can make the most of it, up to certain limits.

An important role employers play in Defined Benefit Pensions
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.

How to make your savings work harder for you in a low interest rate environment?
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.

UK Pension Guide
A pension scheme is a savings plan to help you put money aside for later life. It has favourable tax treatments when compared to other forms of savings.

Time running out for ‘covid savers’ to make the most of pensions allowances
Covid savers should be making the most of their pensions allowances, says Sharon Mattheus of Lovewell Blake Financial Planning.

Is it too early/late to start investing in a pension?
For some, retirement might feel miles off, but the sooner you can start saving for it, the better.

NHS Pension - 2019/20 Annual Allowance Charge Compensation Scheme
What do I need to do?

NHS pension reform
Following the Government’s consultation into public sector pension scheme reforms, they have now published their response, here, outlining their proposals for changes to schemes over the coming years.

The reality of investing today
We have seen some turbulent markets in the last 12 months, with the repercussions of COVID having a significant impact. Generally speaking, markets have partially recovered but remain extremely volatile.

Changes to pension access
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.

Suffolk Financial Adviser named UK Financial Adviser of the year
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.

Leading East Anglian Financial Planning firm appoints new Financial Adviser
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.

Attitude to Risk Vs Capacity for loss
The difference between a perceived attitude to risk and actual capacity for loss can often be confused.

Let's talk money
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.

FT rates East Anglian Firm in top 100 financial planners in the UK for the third year running
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.

Cash investments
Returns for those holding money in cash savings accounts took another fall a fortnight ago, when the government-backed savings provider slashed their interest rates.

State pension age hits 66
The age you can start drawing your state pension has now officially increased to 66, for most people.

Leading East Anglian Financial Planning firm appoints Financial Adviser
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.

Long Term Care
Long-term care in a care home is very expensive, and can quickly erode your savings (including the equity in your property).

How have my investments performed during the pandemic?
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.

Introduction to active and passive investment management
A tracker fund is a simple way of investing your money in company shares, bonds, and other assets.

Structured Deposits
Stock markets have been volatile to say the least over the last few months, and in our opinion, will remain so until the Coronavirus pandemic is brought under control and the economic fallout assessed.

Income Protection
When considering the range of protection policies available, the most common policy is ‘life insurance’.

If it looks too good to be true...
It is fair to say that 2020 has been quite an extraordinary year in many ways, presenting new challenges for people from all walks of life.

How to avoid a pension scam?
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.

Ethical Investing - What is 'Greenwashing'?
You may have already seen in the financial press, news of the recent rise of ESG (Environmental, Social and Governance) and Ethical Investing.

Introduction to investing
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.

Inheritance tax rules for married couples and civil partners
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.

COVID-19 - Protecting your business
The COVID-19 pandemic has introduced a number of challenges for business owners to deal with to ensure the survival of their companies.

Protecting your loved ones
Over the last few months, many of us have had the change to reflect on our lifestyles and financial circumstances due to the COVID-19 pandemic.

Life Insurance
With the season of goodwill nearing, now could be the perfect opportunity to consider the level of life insurance you have in place.

FT rates East Anglian firm in Top 100 Financial Planners in the UK
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.

Pensions versus ISA
A common question amongst investors is 'should I invest in a pension or an ISA?' Here we run through the main features of each product.

Good Money Week 2019
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.

FT rates East Anglia firm in the top 20 financial planners in the UK
An East Anglian firm of financial planners has been named as one of the UK’s Top 20 financial advisers by the Financial Times.

10 things to do once you are retired
Yesterday, you were busy working and today you are retired, what’s next?

Retirement - An emotional journey?
Retirement has a habit of creeping up on you whilst you are busy getting on with your life, to the extent that we barely give it consideration until it is almost upon us.