Whilst our clients benefit greatly from the initial financial planning work we complete together as well as the implemention of any recommendations we may make, the ongoing ‘Forward Planning Service’ ensures that our clients financial plan remains on track to meet their long term objectives.
Below are just some of the benefits in our Forward Planning Service:
The offer of a face to face, web, or telephone review meeting at least annually which we will contact you to arrange. The review will include:
- An annual comprehensive Financial Planning review service, including a lifetime cash flow forecast
- An update and appraisal of your financial and personal situation, needs, circumstances and objectives
- A review of your attitude to risk to identify changes in your profile and to confirm the ongoing appropriateness of your investment portfolio against your attitude to risk.
- A review of your investment performance against your objectives and circumstances.
- An annual appraisal of your expected retirement income and recommendation of changes to keep you on track
- General on-going tax and strategy recommendations in line with your circumstances and objectives
- Assistance with making on-going contributions to both pensions and other investments
- Assistance with ad hoc and regular withdrawals from your investments / pensions including advice on the taxation status of any withdrawals
- A review and appraisal of prevailing interest rates and annuity rate movements as may be applicable to your circumstances
- A summary of the impact of any legislative or statutory changes that might impact on your retirement strategy, for example, changes in taxation law or State pension benefits
In addition, for those clients whom we also manage their investment and pension portfolios, our Forward Planning Service also includes:
|Ongoing service description||Ongoing Wealth Service|
|Access to an adviser by telephone at all times||✔|
|You will be able to call us for advice on your portfolio or any other financial matter at any time. If your nominated adviser is not available, you will be able to speak to another member of the team or request a call back within 48 hours.|
|A face-to-face review or Web meeting upon any reasonable request||✔|
|Almost all of your investment management is run from our Head Office without the need to have a face to face meeting. However, we are comprehensive in our approach and would recommend regular reviews, with a minimum of one meeting per year, to ensure that our overall financial advice is consistent with your own goals and personal situation.|
|Ongoing risk management||✔|
|We will monitor the overall risk of your portfolio against your own risk level. As we have our own in-house technology this can be done off platform and we can advise you when a change in your underlying holdings is required.|
|Ongoing tailoring to specific financial goals and objectives||✔|
|If you inform us that your goals have changed we will remodel your investment portfolio to match your new investment term, appetite for risk or capacity for loss.|
|Use of the Money Plan-it (Wealth Management) Ltd’s client Portal||✔|
|The Money Plan-it (Wealth Management) Ltd client portal acts like a central hub for all of your reporting requirements which means you will be able to access consolidated valuations and your platform holdings in real time. Off platform holdings may need to be valued manually.|
|Scanning and ‘Go Green’ service||✔|
|Our scanning and go green service means that where possible we will ask providers for statements in PDF format and store these in your client portal. This will give you a paperless environment and access to your documents 24/7.|
|Access to discretionary managed strategies||✔|
|Discretionary strategies include Exchange Traded Instruments such as direct equities and Exchange Traded funds (ETF’s). Discretionary strategies can be expensive if bought on an advised basis in isolation. Aggregation is extremely efficient when all clients are able to purchase the same holdings at the same time and we can instruct the platform to do this on our behalf.|
|Access to discounts on fund charges at institutional rates||✔|
|Money Plan-it (Wealth Management) Ltd is part of Best Practice IFA Group which means we have access to certain discounts on institutional rates. Many of the initial charges on funds are removed completely; typically, this results in a 3-5% discount on charges.|
|Access to real-time trading facilities||✔|
|This service allows you to buy or sell directly held equities which you can hold in your own ISA, General Investment Account or Self Invested Pension. We will take your instructions on an ‘Execution Only basis’.|
|Capital Gains Tax alerts and reporting (CGT)||✔|
|Our CGT service helps us to monitor your portfolio in real time and trigger alerts in order for us to manage taxation on your accounts. If this is not done each year then a tax charge may become payable on the final sale of securities within your account. Please note that a further charge will be payable if you require a full tax report for submission to your accountant.|
|Automatic and on-demand re-balancing of funds||✔|
|We will seek to maintain the original asset allocation and risk level of your portfolio by “rebalancing” your portfolio either automatically (for discretionary, on-platform accounts), or with your consent. If, however, your account is off-platform you will not benefit from the efficiency of bulk aggregation which applies to platform holdings, and extra dealing charges may apply.|
|Access to third party specialist portfolios / services||✔|
|Access to EBI (Evidence Based Investment) Portfolios. EBI provides evidence based investment management and supporting resources to a select group of the UK’s most knowledgeable and forward-thinking financial advisers and their clients.
EBI’s investment philosophy combines more than five decades of market data, Nobel Prize-winning academic research and behavioural finance.
As part of our relationship with EBI, we also have an in house Chartered Financial Analyst available for our existing and prospective clients. This service allows us to provide a complimentary ‘Second Opinion’ on your existing Investment / Pension Portfolio.
The ‘Forward Planning Service’ is offered typically at an annual fee of 1% of your investable asset value, subject to a minimum annual fee of £2,500. The annual fee can be invoiced to you directly or paid via the cash account from within your investment platform account, whichever is your preference.