Inheritance Tax
These are challenging times for savers and investors, but tailored financial advice could make a big difference
When it comes to the question of why Mail Finance’s trusted partner, Skipton Building Society, continues to offer financial advice, Matthew Leach, Director of Financial Advice is uncompromising.
“Because there are so many people who genuinely need it”, he answers. Matthew and one of Skipton’s most experienced advisers, Gary Munroe, explain how planning your financial future now could help you. Five years ago, it was easy to find financial advice on the high street. However, that is no longer the case after a number of banks and building societies reduced or withdrew their services. Skipton continues to offer tailored advice to thousands of people across the country. Just as they have been for nearly 30 years. “When you look at the events of the last few years, the importance of financial advice has never felt greater,” Matthew argued. “Hard-working savers have been penalised by historically low interest rates for over 100 months now. Inflation is on the rise, making it a real challenge to grow your money in real terms. Throw in the 2015 pension freedoms, changes to inheritance tax rules and the uncertainty of Brexit, and we all face increasingly complex financial decisions.” “Making the wrong choices could have a significant impact. Being prudent with your money doesn’t guarantee success in this climate. Sound financial planning can make all the difference.”
Honest, tailored advice
This is why Skipton is supporting Mail readers just like you. Throughout the UK, their team of financial advisers are available to meet you face-toface and advise you on your plans. Gary Munroe, one of Skipton’s most experienced advisers, explained: “Beyond the here and now, we all have our own personal aspirations in life that will often be governed by our financial capability. We’re here to provide answers to the financial questions that are keeping you awake, and offer you greater reassurance about your future.” Initially this means taking the time to get to know you, to understand your hopes, fears and ambitions. “What matters in your world is unique to you, and we’ll always treat you that way,” Gary continued. “By understanding where you are now financially and where you would like to be, you can be confident we’re acting in your best interests.” “We can review your current savings, investments and pension plans, to see if they are likely to give you what you will need. We will also assess your legacy and if your loved ones might face the issue of inheritance tax when inheriting your estate, so you can make plans.” The financial world can sometimes seem complex, but your adviser will always explain everything clearly and be able to answer your questions. They will take into account different levels of investor experience. So whether you’re new to investing your money or have plenty of experience, Skipton can help.
In-depth research, personalised recommendations
After having an initial meeting, your adviser works closely with Skipton’s technical team to review your arrangements and develop tailored investment recommendations. Skipton can select funds from across the market, to help you make wise decisions with your money. Mark Elliott, who heads up Skipton’s technical research team, stated: “There are thousands of investment funds and products available, with different objectives, strategies and levels of risk. With so much choice, on your own it is not always easy to work out what is right for you.” “We research the market to find funds that meet our strict criteria. You can be confident we have done our homework, as we regularly meet with the managers of the funds who are on our panel, to understand their views on performance and future plans. We also continue to speak to them on a regular basis.” “By really getting to know how the fund operates, we can be confident in recommending that it is right for you.”
No pressure advice
With this information and access to Skipton’s expert analysis, your financial adviser will meet with you again to recommend the most suitable plan for your needs. There is no obligation to act on this advice, as Gary confirmed: “We will make sure everything is fully explained, so you feel in a position to make informed decisions. “You will have all the time you need to think things over with your loved ones and decide your next steps. There is no pressure to take things further.” Skipton firmly believes in building longterm relationships and being there for you when you need them. For example, they offer an ongoing service if you are happy to pay an ongoing fee, where they monitor your investments on your behalf and keep you updated on fund performance through detailed quarterly reports.
“The advice is exceptionally helpful”
Skipton’s financial advice service is very popular with customers. In fact, 94 per cent would recommend this service to friends and family^. Bernard McNaboe, from Lancashire, is one of thousands of investors benefiting from their ongoing service. The experienced investor first received advice from Skipton in 2009. Bernard revealed: “After 2008, when all the big banks were involved in the financial crisis, I decided to start looking more seriously at genuine building societies. I talked to the Skipton financial adviser at the time, and the way they invested customers’ funds interested me greatly.” “The advice is exceptionally helpful for people who know little about investments. Although I have invested quite liberally over the years, I was investing in the dark. I didn’t really have the knowledge and the expertise to look at the bigger
picture, look at the long-term and look at the way my investments were going.” “Having that helping hand and advice has been absolutely vital to me in terms of how I look at my financial planning.” Please remember that stock marketbased investments are not like bank and building society savings accounts as your capital is at risk and you may get back less than you invested. The value of your investments and any income from them may fall as well as rise. Just like Bernard, Skipton are ready to advise you of your financial plans and provide tailored recommendations. Source: 3,414 customers surveyed March 2012 – April 2017