Do I need financial advice?
An independent financial adviser can give you advice about managing your money, or help you with specific needs or goals. You may decide that you want financial advice for a number of reasons. Common scenarios include: • Approaching retirement and need help with sorting out your pension options. • Inheriting a lump sum of money. • Looking into buying a house. • Considering taking out life insurance to protect your family in the event of accident, illness or death. • Looking at presenting seminars to groups of staff or members of organisiations. • Companies looking at options for auto enrolment.
Do I need online, restricted, simplified advice?
If you are looking to save or invest in a simplified manor without seeing a financial advisor at this time, then you could elect to use our simplified online service to transact your request. It follows a robust due diligence to ensure the investment meets your attitude to risk and is less expensive than face to face advice. If you are happy for your investment to be be managed by Parmenion, then this quick online process could be for you.
What do you charge?
It wont cost you anything to meet with an advisor initially. Your initial meeting will cover the Discovery and Goal setting and Data gathering stages of our process and is free of charge with no obligation. It will determine what, if any, needs you have and if we are able to assist you. We are fee based advisers and our fees will be disclosed fully at the initial meeting when we have made an assessment of the amount of work that is involved. On occasion, companies give us the option of commission and we can consider using this to offset against our fees and again, this is something which can be discussed at our meeting. For the online, restricted, advice service, any charges will be displayed before completing your transaction.
What is the client log in for?
This is an area where clients can enter the secure site and see all their investments and it also helps with data protection as documents and emails can be sent via this Personal Finance Portal in a very secure manner so it reduces the chances of internet fraud. The system also allows our clients to use it for their own personal financing in a secure system which is also available as an app for their
How much money can I put into an ISA each year?
For the current tax year (2015/16) the individual allowance is £15,240 which can either be invested in a stocks and shares ISA, a cash ISA or be split between both options.
What is a Help to Buy ISA
If you are saving to buy your first home, save money into a Help to Buy: ISA and the government will boost your savings by 25%. So, for every £200 you save, receive a government bonus of £50. The maximum government bonus you can receive is £3,000. Open: the Help to Buy: ISA will be available from a range of banks and building societies. The accounts are available to each first time buyer, not each household. This means that if you are planning to buy with your partner, for example, you could receive a government bonus of up to £6,000 towards your first home. Save: Save up to £200 a month into your Help to Buy: ISA. To kickstart your account, in your first month, you can deposit a lump sum of up to £1,200. The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus. The maximum government bonus you can receive is £3,000 – to receive that, you need to have saved £12,000. Receive bonus: when you buy your first home, your solicitor or conveyancer will apply for your government bonus. Once they receive the government bonus, it will be added to the money you are putting towards your first home.
Who is eligible?
To qualify for a Help to Buy: ISA you must: be 16 or over have a valid National Insurance number be a UK resident be a first time buyer, and not own a property anywhere in the world not have another active cash ISA in the same tax year: If you have opened a cash ISA this tax year, you can open a Help to Buy: ISA but will have to take additional steps. To qualify for the government bonus, the property you are buying must: be in the UK cost up to £250,000, or up to £450,000 if you are buying in London not be a second home or a buy-to-let property not be rented out after you buy it be purchased with a mortgage
Why Should I Make A Will?
Making a Will ensures that your wishes are carried out after you die. If you die intestate (without a Will) the Rules of Intestacy from 1925 apply and decide who inherits your possessions after you die. Relying on this law rather than creating a Will has disadvantages. The law decides who benefits from your estate, not you, and as it was created almost a century ago, it doesn’t bear much relation to modern personal and family situations.
Can you help with my multiple pensions?
As most people have several different jobs in their lifetime their pensions can be scattered around with different companies. We can review your existing pension arrangements to establish how much you have got saved and what they will provide you with when you retire. Sometimes it may be appropriate to consolidate your pensions with one company as this is easier to keep track of and control.
What is Lifetime Allowance (LTA)?
There’s also the Lifetime Allowance (LTA), which is the maximum you can have in all your pensions without paying extra tax. For most people, from 6th April 2015 the LTA is £1.25m. In the 2015 Budget it was announced that the Lifetime Allowance will reduce from £1.25m to £1m from April 2016. This will then be index linked (CPI) from April 2018.
What is auto enrolment?
Automatic enrolment is a government initiative designed to encourage saving for retirement. It started in October 2012 and is being rolled out across the UK so that by 2018 all employers will have to provide a workplace pension which eligible staff will be automatically enrolled. Employers will automatically enrol eligible workers or jobholders into a workplace pension who: are 22 years old or over, but under the state pension age are not already in a qualifying pension scheme earn more than £10,000 a year (2015-16 tax year figures) ordinarily work in the UK.