With the UK in a long and difficult period of recession, we are all now reviewing our finances. There are many reasons to take independent financial advice right now.
Mortgage and Savings Rates For borrowers who have good credit ratings, there still are opportunities to re-mortgage or restructure finance and make monthly cost savings. For savers, the recent falls in interest rates is the equivalent of a pay cut. With the cost of living rising, particularly fuel and food, this income reduction could not be less welcome. There are currently attractive and secure rates available from fixed rate bonds or gilts.
Pension Fund –Tax Free Cash For people in need of capital and who are approaching their retirement age, i.e. over 50, you can access the tax free cash held within your pension plans without taking any income. Access to pension capital may be helpful at the moment but must be considered carefully. Another useful benefit of personal pension schemes is their ability to purchase commercial property.
Investment Opportunities The stock market is currently at a remarkably low level, but now is the time that professional fund managers view the market as a buying opportunity for funds that have a long term outlook. Investors could take advantage of the numerous opportunities that exist in a depressed market to make profits over time. Likewise investors who save on a regular basis with equity savings accounts, ISA’s or pension funds will ultimately benefit from buying "cheap units" at the moment.
We ensure our clients use a very expereineced and professional financial advisor who can provide in depth financial planning and investment advice to private and business clients. We focus on helping people clearly identifying their current financial arrangements and then apply a refreshing approach to wealth management.
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We consider it appropriate to make it clear that this service is not part of our legal practice and the protection afforded our clients by the Law Society and Solicitors Regulatory Authority is not available. Instead, the appropriate protection is provided by the Financial Services Authority and Financial Services Compensation Scheme. No lawyer connected with John Collins & Partners LLP Solicitors provides financial services. We work closely with specialist Financial Advisors who are regulated by the Financial Services Authority
