Do I need financial advice?
That is a question that only the client can truly answer. However, what we offer is our professional knowledge and years of experience, together with our strong belief in personal contact and building trust from the very outset. Having another person take the financial journey through life with you is very reassuring for most clients. We help you make more consistent decisions, based on more considered information. Not all financial decisions made between us will bear the expected fruit, but we will continually monitor the results of any decisions we make together and modify the process when and where necessary. Advice is seldom one-way; we learn so much from our clients’ individual views, circumstances and aspirations, that it can only enhance our future advice. Advice is always educational, allowing you to grow more confident in your own financial knowledge and experience over time.
What are Pension Freedoms?
This refers to the substantial changes made to pension rules from April 2015 (and a culmination of rule changes made since 2006) that now allows individuals to manage their pension affairs more flexibly than ever before, especially in pension schemes that are not defined by your final (or career average) earnings. For many years, you have been able to start, stop, increase or decrease pension contributions whilst accumulating your pension; but since 2015, you can do the same with your pension income (within limits) and you can pass any unused pension fund on to your beneficiaries or nominated individuals. With this flexibility/freedom comes more choice, which means more decision-making – and we are here to help you.
Is your advice worth the money?
Again, only you can make your mind up on that score! What we will assure you is that all our charges and the costs of any recommended plans (pensions, ISAs, investments, etc) will always be clearly/transparently shown to you. Whether we are saving you tax, or helping you build savings, investments or pensions, we will always mark our progress against benchmarks that are relevant to your circumstances. We are happy to be judged on the quality of our service (administration, communication and relevance of advice) as well as the quantitative value of meeting (and beating) benchmarks.
What do you charge?
Our fees are detailed in our Client Agreement and we will always give you a clear summary of the costs of our service and any financial products we may recommend.
When is the right time to invest?
Generally, we believe that market timing is a fool’s game, as we are long term financial planners and investors. Most of our clients are investing over the medium to long term, in this we believe in the enterprise of worldwide companies to provide a better return than cash in most circumstances given enough time, even with bumps along the way. For regular investing, the time to start is nearly always – now!
Sometimes the markets can be very volatile and if you are considering investing a large sum, say an inheritance or the proceeds of a business sale, then it may be appropriate to “phase” your investments over a specified time to minimise the risk of unfortunate timing. However, we will not be holding on for the perfect moment. That route invariably leads to upset!
How much of my money should I invest?
There is no “right” amount to invest – it really is an individual choice based as much on your emotional attitude to your finances as it is on the hard facts of what money you have in the bank, savings, pension etc; and how much time you have to plan for your future needs. Investing should always be viewed as a long-term commitment of five years or more, making sure that your cash savings provide a reserve for any commitments within any five-year time frame. Whether you need a large cash cushion or think money in cash is a lost opportunity, we will help you decide on the best balance of investments for you.
How can I financially plan for loss of physical independence (disability, long term care, etc)?
This is one of the trickiest situations to plan for, but also one of the most devastating. There are a range of insurance products geared to meet loss of income due to accident, sickness, disability or critical illness and we have years of experience matching the most suitable plan (or plans) to your own needs.
Modern Money Financial Services Limited is authorised and regulated by the Financial Conduct Authority: 150571. Registered in England: No. 2459464. Directors: M Paine, L Edmunds
The Financial Conduct Authority does not regulate tax or estate planning
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK
© Modern Money Financial Services Ltd 2019