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We have access to many 'tools' and products that will help you to achieve your financial objectives.
The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested. Your home may be repossessed if you do not keep up repayments on your mortgage.
Most people need a minimum level of guaranteed income for life, so they use their pension savings to buy a lifetime annuity that will pay them an income until they die. There are different types of annuity, as well as other pension options.
If you own your own home, you'll need to have buildings cover justein case your home is damaged and needs a repair. It's usually a condition of your mortgage and, if you’re a landlord, it’s your responsibility - not your tenants.
Make sure you have enough cover. Being underinsured can be a costly mistake.
Since October 2012 employers are required to enrol all eligible workers into a workplace pension. Large employers started first followed by medium then small employers over the next few years. This means many more people will have access to a pension at work to help them save for their retirement.
Auto-Enrolment are not regulated by the Financial Conduct Authority.
Commercial Mortgages are available on a stand-alone basis at attractive rates from a variety of nationally known banks and building societies.
Commercial mortgages are not regulated by the Financial Conduct Authority and we will facilitate a recommendation by referring to a specialist broker
Critical illness insurance is a long-term insurance policy where you'll get a tax-free 'lump sum' - a one-off payment - if you’re diagnosed with one of the serious illnesses covered by your insurance policy. It's designed to pay off your mortgage, debts, or pay for alterations to your home such as wheelchair access should you need it.
If you employ people then you must have insurance cover to pay compensation to employees injured while doing their jobs. This is a legal requirement.
If you’re looking to make an investment, buy a financial product or plan for the longer term, whether or not you need financial advice will depend on a number of factors such as what product you are looking for, how complicated your finances and personal circumstances are and your short and long-term goals.
Professional financial advisers carry out a ‘fact find’ where they ask you detailed questions about your circumstances, your goals and how you feel about taking risks with your money. Then they recommend financial products that are suitable and affordable for you.
Warning: The value of the investment can go down as well as up and you may not get back as much as you put in.
Nearly half of all savers claim a guarantee that their original investment is safe would significantly reassure them when investing in the stock market or pensions. But understanding the products, the cost of the guarantees and exactly what is guaranteed can be complex.
If you decide that you’re not ready to convert your pension fund into retirement income by buying a lifetime annuity, but you do need funds, you have a few options. These are often known as income drawdown options. Income drawdown is a type of pension product that lets you take an income from your pension fund while leaving it invested so you can continue to benefit from growth in the fund. By using income drawdown, you avoid or defer having to turn your fund into an annuity.
If you couldn't work due to a serious illness, how would you manage? Could you survive on savings, or on your sick pay from work? If not, you’ll need some other way to keep paying the bills - and you might want to consider income protection insurance.
Warning: There are other providers of Payment Protection Insurance [Short-Term Income Protection] and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk
After you die, the people tidying up your affairs have to count up the value of what you leave behind - your estate - and take off any debts and funeral expenses. Depending on how much is left, there might be Inheritance Tax to pay. There are a number of things you can do to reduce the taxman's cut and using a life insurance policy to pay some or all of your Inheritance Tax bill can make things easier for the people you leave behind.
Info: Estate planning is not regulated by the Financial Conduct Authority.
A personal pension is a type of defined-contribution pension. You choose the provider and make arrangements for your contributions to be paid. If you haven't got a workplace pension, getting a personal pension could be a good way of saving for retirement.
Offshore investing is often demonised in the media, which paints a picture of investors stashing their money with some illegal company located on an obscure Caribbean island where the tax rate is next to nothing. While it's true that there will always be instances of shady offshore deals, the vast majority of offshore investing is perfectly legal. In fact, depending on your situation, offshore investing may offer you many advantages.
It's a good idea to get finance in place before you start looking for a property, so you know your budget. If you need a mortgage, there are several ways to raise the money and understanding the pros and cons of each is key.
† Overseas mortgages are not regulated by the FCA.
Cash ISAs are savings accounts that pay tax-free interest. There’s an upper limit that you can save into a Cash ISA each year and there are special Junior ISAs for younger savers. A Stocks and shares ISA is a 'wrapper's that can be put around a wide range of different investment products to help save you tax. You’ll often find that Stocks and shares ISAs are sold and marketed as products in their own right.
Tax treatment varies according to individual circumstances and is subject to change.
Key person insurance - (sometimes also called Key man insurance) covers the business up to an agreed limit for any financial losses that would result from the sudden death or illness of a crucial member of the company - including the owner or manager.
Unit trusts and Open-Ended Investment Companies (OEICs) are professionally managed collective investment funds. Managers pool money from many investors and buy shares, bonds, property or cash assets and other investments.
PPI is a very controversial insurance as some contracts have been found to offer very poor cover, often at a very high price. Even though PPI has a poor reputation, it is important to think about how you would pay your mortgage each month were you to fall ill or lose your job.
†This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk.
The options for funding long-term care are varied and can often be complicated. Planning ahead can take the fear out of the future and ease the responsibility on your family and loved ones.
Not everyone needs life insurance (also known as life cover or life assurance). But if your children, partner or other relatives depend on your income to cover the mortgage or other living expenses, then the answer is yes - you probably do want life insurance, since it will help provide for your family in the event of your death.
Your will tells everyone what should happen to your money, possessions and property after you die (all these things together are called your ‘estate’). If you don’t leave a will, the law decides how your estate is passed on - and this may not be in line with your wishes. A will writing service can be cheaper than a solicitor and more reliable than a DIY will.
†Will writing is not part of the Intrinsic offering and is different in our own right. Intrinsic accept no responsibility for this aspect of our business.
Equity release is the name given to a range of products that let you access the equity (cash) tied up in your home if you are over the age of 55. There are two main equity release options:
Info: Equity Release is a lifetime mortgage or home reversion scheme. To understand the features and risks, ask for a personalised illustration. We charge a typical fee of £1000 for equity release arrangement. Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.
We charge a typical fee of £500 for equity release arrangement.
Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.
A self-invested personal pension (SIPP) is a pension ‘wrapper’ that holds investments until you retire and start to draw a pension income. It is a type of personal pension and works in a similar way to a standard personal pension. The main difference is that with a SIPP, you have more flexibility with the investments you can choose. SIPPs aren’t for everyone.
Ever wondered how you'd pay your mortgage or keep up your loan or credit-card repayments if you lost your job? There are insurance policies that might be able to help you in this situation.
If you're a professional who gives certain types of advice or services to your clients, then you should have professional indemnity insurance. It pays out if you are negligent or make a mistake which causes your client to suffer a financial loss.
Private medical insurance (also known as health insurance) can supplement what’s available on the NHS. If you don’t already have it as part of your employee benefits package and you can afford to pay the premiums, you might decide it’s worth paying extra to have more choice over your care.
Many people like to retire gradually, without giving up work altogether. Your workplace scheme might allow you to draw just part of your pension for now, increasing the amount later on. If not, you might want to consider transferring to a personal pension that you choose.
If you've changed jobs you may have a number of personal pensions that can be brought together to take advantage of lower charges and improved performance.
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