Offering Something Different
I take my experience and utilise the latest technology and industry solutions to provide you with tailored advice on retirement and pension planning, investments, and personal or business protection insurance.
HARROLD FINANCIAL SERVICES
Providing Regulated Advice In The Following Areas
INVESTING
Growing your wealth tax efficiently
PENSION
Planning Saving enough for the future
RETIREMENT
Providing flexible & sustainable income
PERSONAL PROTECTION
Putting the right personal insurance in place
BUSINESS PROTECTION
Insuring your key people & profits
FREE RESOURCE GUIDES
Please feel free to download our resource guides, which offer useful insights on several financial planning topics.
INVESTING
As we continue to receive low-interest returns on cash savings, investing offers a great alternative for growing your wealth. Whether you are looking to grow your capital, have your money keep pace with inflation, generate an income or simply diversify your current holdings, I can help you find the right solution to reach your investment goals, whilst minimising the tax you pay on any growth.
HOW I CAN HELP?
I can help you to implement an effective investment strategy with the aim to grow your funds over the medium to long term. This will be an investment portfolio that is tax efficient, has competitive management costs and, most crucially, provides suitable levels of return in line with your appetite for risk.
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The type of investments you could hold will depend on a range of factors, including:
- The amount of investment risk you are willing to accept;
- Your personal tax position;
- Your ethical and social preferences;
- The length of time in which you would like to invest your money; and
- Whether you have had previous investment experience.
When making any kind of investment, your attitude towards risk plays the most important factor. Typically, the more risk taken with an investment the greater the potential reward.
My job is to understand your attitude towards risk ensure that the level of risk you are willing to take matches your investment objectives and select appropriate and diversified investments. Diversifying investments ensures that you do not have all your eggs in one basket should one investment not perform as well as another in the market. Let me help implement your investment strategy.
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PENSION PLANNING
A personal pension is a type of savings plan that helps you build money for retirement. Pensions can sometimes be perceived as complicated and restrictive, when actually they offer some unique benefits and can provide great flexibility.
Contributing into a personal pension plan, whilst remaining invested over the long term can give you the opportunity of real growth. Achieving this growth is about diversifying where your pension is invested to spread the risk and reward of returns. I can help you understand this.
HOW I CAN HELP?
When it comes to building enough money for retirement, you need to ensure that the amount & frequency of contributions made into your plan will provide you with enough money when it’s time to withdraw.
Unfortunately, most people do not contribute enough into their pension. I help clients to understand the ideal levels of contributions needed to reach their retirement goals.
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I can also review any existing pension arrangements you have amassed over your working life, and assess:
- Whether there would be greater benefit in consolidating these into a single plan;
- The performance of your underlying investments; and
- Whether your existing investment portfolio matches your current attitude towards risk.
As an owner of a Ltd company you have a huge opportunity to reduce the tax you pay personally and the tax paid by your business by using a personal pension. Personal pensions can help you reduce the amount of corporation tax paid by your business and allow you to extract business profits more tax efficiently.
Personal pensions are also a great way of diversifying your holdings, rather than relying on your business to provide you with all of your current and future wealth. This could be dangerous if something happens to your business and you are counting on this to provide your retirement.
I can help business owners establish the right pension plan but also unlock all the related tax benefits, now and in the future.
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RETIREMENT
Key to all of these areas are your retirement benefits and making sure you have considered and selected the best financial products and solutions which maximise these but reduce your tax liabilities on withdrawal. This will depend on your age, health, lifestyle, and retirement goals.
You might be someone who wants to stop work completely at state pension age or someone who wants to gradually reduce the number of days they work until the ripe old age of 90!
HOW I CAN HELP?
Whatever your circumstances, I can help you understand whether your retirement goals are realistic and how long any income should last. I can help you select the best products and implement a withdrawal strategy to limit the tax you will pay.
Retiring will have a big impact on the rest of your life. Let me help you build a tailored and sustainable retirement plan.
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So, you’ve built up your pensions, savings and other investments and are thinking about retirement.
If you have never taken financial advice before this is a really important time to do so, to ensure you have enough income and/or capital to keep you comfortable in retirement.
As part of your retirement plan you will need to think about three areas:
- When To Begin Taking Your Retirement Benefits
- How To Take Your Retirement Benefits
- Managing Your Retirement Benefits
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PERSONAL PROTECTION
The impact of an untimely death, being too sick to work or being diagnosed with a critical illness can be financially devastating for you and your loved ones if you don’t have the right life insurance, income protection and critical illness cover in place.
We all take out property, car and mobile phone insurance, so why not place the same importance on insuring you and your family.
HOW I CAN HELP?
I have access to a wide range of insurance providers and bespoke products not available online and can use these to recommend the right insurance product and level of cover to suit your circumstances and liabilities and give you peace of mind.
I also have the ability to speak with medical underwriters directly which can help to provide more accurate insurance costs, save time and help to obtain insurance for individuals who have been unable to obtain cover in the past.
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Pays out a lump sum if you are diagnosed with a specific illness or condition. This policy could be used to pay off liabilities and cover the costs of recovering. There are broad range of products on the market to suit all budgets, giving you the ability to claim on a wide range of conditions. This type of insurance can be complicated to understand. I can help decipher the jargon and ensure you are getting the best cover for your needs.
Pays out a monthly benefit if you are unable to work due to sickness or injury. This is an ideal way to cover your monthly outgoings and support your family financially. There are several options and additional benefits that can be built into these plans. I have access to a wide range of providers that specialise in this market. Which helps tailor this cover to your specific job role.
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BUSINESS PROTECTION
Businesses naturally insure their premises and equipment but often neglect to insure their shareholders and key people. Death or critical illness of a business owner or key person will have a serious financial effect on the business and in some cases could see the business close entirely.
HOW I CAN HELP?
I advise companies and partnerships on setting up the right insurance to protect its owners and key people, whilst establishing a business will.
Having the right plan in place, to deal with an untimely death or critical illness within the business, provides peace of mind and certainty that the business will continue effectively if the worst happens.
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- SHAREHOLDER & PARTNERSHIP PROTECTION
- PERSONAL LIFE COVER PAID BY THE BUSINESS– (RELEVANT LIFE)
- KEY PERSON COVER
- BUSINESS LOAN PROTECTION
I can also help Ltd companies put cost and tax effective personal life insurance in place for all employees, by setting up a personal death in service plan and paying the insurance premiums.
The main benefits of using this type of life cover are as follows:
- Monthly premiums count as a genuine tax-deductible business expense;
- It’s cheaper than paying for personal life cover using taxed income;
- The lump sum pay-out on death is not subject to income or inheritance tax; and
- The plan is written under trust to ensure the pay-out goes to the employees chosen beneficiaries.
A key person is someone who has a direct impact on a business’ profits. This could be a business owner, director, salesperson or any employee with specialist skills or expertise. The business can set up insurance to cover the impact of death or critical illness of a key person. This would cover future sales and/or value of ideas generated by this person, plus the cost of recruiting and retraining someone to replace them. I can help you to calculate the true cost of losing a key person and insure them.
Loan Protection helps your business pay off any outstanding overdraft, loan or commercial mortgage following the death of a key person or their diagnosis of a critical illness. Some banks and finance companies may even insist on having this insurance in place, as a stipulation of a loan.
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