We believe the most important component is the initial stage - understanding the client - their current financial situation, their needs and goals - this is done using a thorough fact-finding process leading to the research phase where our specific advice starts to take shape.
Service for individuals - we help clients to:
Ø Plan and secure their future standard of living Ø Protect and increase their wealth tax efficiently Ø Save and invest wisely for a comfortable and independent retirement Ø Insure their ability to protect their own and their family's standard of living Ø Understand and make important decisions that affect their future finances Ø Pay less tax and make the most of reliefs, allowances, wills and trusts Ø Reduce the cost of their borrowing
Our recommendations can cover many aspects of an individual’s finances and may involve advice on existing finances, option discussion, planning for the future, risk assessment, transacting investments, etc.
It is almost impossible to identify the entire list of services that Abacus provides because it is our aim to create a bespoke service for clients.
This is not intended to be an exhaustive list but some focus points for consideration.
Usually, when people talk about 'saving' they mean cash in the bank or building society – cash which is secure, grows steadily and which is readily available, if they need it. For all investors, whatever your circumstances, it's vital to hold enough cash to deal with unforeseen events.
When we talk about 'investing', we're normally talking about setting aside money with a view to long-term growth. Investments are usually assets which can go down in value as well as up and you may get back less than your original investment, so you shouldn’t invest in a long-term product if you might need your money sooner rather than later.
Capital Growth or Income? High, medium or low risk? Time scales? Tax efficiency, allowances & regimes? On or Offshore? Access now or later? Ethical funds?
Many, many questions need to be answered and understood before we can even contemplate suggesting a portfolio for any investments whether it is an individual, a trust fund, a pension, a corporate body or charity.
We go to great lengths to ascertain a client’s attitude to investment risk, in most cases this includes explaining the meaning and implications of differing levels of risk. Investment risk and its relationship with time and growth will be discussed, and the right kind of funds will be chosen to suit attitude, requirements and objectives.
“…..tax efficiency is a deciding but not ruling factor”
Many investments rely on fund managers to look after the money within them and it is vitally important that they are doing the right things with it. Are they comparatively good enough at their jobs for us to justify recommending them? We study historic fund performance over many time periods, we also look at volatility, consistency and the overall performance of the investment management team.
“……to help us, we use the latest and most sophisticated online fund research systems and highly sophisticated asset allocation software”
If clients want to invest into funds that are ethical or environmentally friendly, we can help choose from the growing variety available. Click for further info
A pension is one type of savings plan that the Government is so eager for you to pay into,
that they'll also add to whatever you pay in.
So, if you've ever resented having a large lump of your earnings taken off you in taxes,
a pension plan is an excellent way to get some of it back.
It's a fact. If you’re a basic-rate taxpayer and save £780, the Government will turn that
into £1,000, if you're a high-rate taxpayer and save £600, the government will turn that into £1000 also.
You won't find another savings scheme anywhere, with this benefit and it's
virtually tax free.
This favourable tax treatment isn't guaranteed to continue in the future.
There are many ways of accumulating wealth for retirement;
however you would be hard pressed to find a more
efficient alternative to a Pension Plan,
which offers the tax relief, control of risk, choice of investment area,
protection, ease of saving, etc.
Retirement provisions are made in a number of different ways. This may
include Private Pensions, Employer Pensions, and State Benefits. We need to identify the level of income
required at the time of retirement, maximise the potential from each of the
above, take account of any other income or investments held, calculate any
potential shortfall that may arise, and work out the most suitable method of
building up the additional funds. Retirement Planning then needs to be reviewed regularly, including any preserved or paid-up
pension plans.
When you retire, you'll have a number of options. The choices you make when you retire are
important and you should seek authorised Independent Financial Advice. Just as
you should when you're deciding how much you will need when you retire
and how much you can afford to save right now.
The value of the investment, and any income from it, can go down as well as up as a result
of market movements. You may get back less than you invested.
Agreeing the correct level of protection and reviewing any existing arrangements will ensure our clients only pay for what they need whilst utilising the most suitable products and contracts at the most competitive cost.
This could include Critical Illness and Disability cover, Family protection, Mortgage Protection, Income Replacement Insurance, Inheritance Tax mitigation, Long Term Care Insurance and Private Medical Insurance. (See corporate services for further protection types.)
Closely connected with these personal insurances is the need for advice on wills and trusts, where in many cases we refer on to our legal connections.
We provide a full advisory and arrangement service, utilising Banks, Building Societies and Specialist Lenders, keeping up-to-date using the latest and most comprehensive computer software systems.
We cover the whole spectrum from first time buyers, equity release in retirement to commercial finance. Since the FSA took over the regulation of mortgage broking, specific qualifications are now compulsory and additional processes have been put in place.
All these changes are designed to protect the consumer and ensure ‘informed choice’. We support these changes and are proud of the extra level of service we can provide as independent and holistic Financial Advisers over mortgage brokers. Click here for the Abacus Conveyancing Service
When specifically advising on financial products
that are primarily rate-driven e.g. Life
Insurance, mortgages, commercial lending and annuities, we obtain comparative
quotes from regularly updated on-line computer systems.
In many cases we can also submit applications online, which greatly
speeds up the processing time and reduces costs all round.
Many of these kinds of products are bought without advice as direct
purchases by the public by mail or online. However, our services include the
major differential aspect “advice included” therefore given an extra level of
“peace of mind”. We also aim to find the most suitable deal available; one of
the main reasons for using a Financial Adviser who's truly Independent.
We have built up many specialist connections within the Legal, Actuarial, Tax, Investment Management, Health Management, Banking, Commercial Risk Broking and General Insurance Broking professions, who we can refer to when necessary.
When specifically advising on financial products
that are primarily rate-driven e.g. Life
Insurance, mortgages, commercial lending and annuities, we obtain comparative
quotes from regularly updated on-line computer systems.
In many cases we can also submit applications online, which greatly
speeds up the processing time and reduces costs all round.
