One Consultancy Solutions
Investment, Tax & Pensions
Investments, Tax & Pensions
Understanding risk and return
Successful investing is all about managing the balance between risk and return. At Phare Financial Services we start with a detailed questionnaire to determine your overall appetite for risk and capacity for possible loss.
Generally, the higher the potential return the higher the level of risk you need to take with your money. However, investing is not all about taking big risks and chasing impressive returns. Many of our clients focus on preserving their capital and take minimal risks, simply seeking better returns than those available from cash savings. Once we fully understand you and your situation, we can then recommend an investment strategy to suit you.
We work closely with you to make sure you understand the options, the possible risks, and potential rewards, as well as helping to de-mystify the jargon. We use our knowledge and experience to recommend a strategy that is right for you, we will monitor your plan on an on-going basis and report to you regularly on how your portfolio is performing.
Investment accounts
Investing does not always mean stocks and shares; we can help you choose between the multitude of investment options available, including:
- Stocks and shares ISAs
- General investment accounts
- Onshore and offshore bonds
- Venture capital trusts
- Enterprise investment schemes
- Structured investment products
Tax & Pensions
It’s important to take advantage of the many tax breaks available in order to maximise your investment returns. For many, this will involve using tax-efficient vehicles such as pensions and ISAs. These are simply a pot of money or investments which are designed to grow free of UK tax and provide an income when you are no longer working.
Pension contributions in particular qualify for tax relief at your highest rate of income tax, unless your individual circumstances mean that it is subject to restrictions.
You, your employer, and the government can all pay into your pension. You can also pay into someone else’s pension pot, such as your spouse or children’s.
Many of us will have pensions, but there are also other asset classes that could deliver for your retirement, such as residential property, or ownership of a private company.
Whatever your chosen vehicle or vehicles to support your retirement financially, it is vital to make the most of them, including being as tax efficient as possible. Something that expert advice can help with.
“When can I draw my pension income?”
From age 55 (57 from 2028), you have the option to take money out of your pension. There is usually no deadline, but most people start accessing their pension when they cut down their working hours or stop working altogether.
“How much will I get when I retire?”
The size of your retirement savings pot will depend on many things, including:
- How much has been paid in
- How well your savings pot has performed
- How long your money has been invested
- How you have chosen to access your savings
- How much has been deducted in charges
“How can I draw my pension income?”
The decisions you make on how to draw your pension income can have lasting repercussions, and with increasing life expectancy it is crucial that you consider all the options available to you.
You may have heard the phrase ‘pension freedoms’, which simply means new legislation allowing greater flexibility in how you can draw your pension. The wide range of options available for having an income stream include taking it all as a lump sum or purchasing various types of annuity or drawdown.
Pensions can be complex. Be it setting up your first pension, reviewing your existing plan, or approaching retirement, an adviser can make sure you fully understand your options to keep your money working hard for you while you get on with living your life.
How can we help?
Whether you are new to investing or you would like us to review your current investment strategy, our priority is to understand your unique situation before recommending a plan. Your adviser can act as a guiding hand, helping you find an investment strategy tailored to your family, lifestyle, and financial aspirations.
One Consultancy Solutions Ltd work with our group financial practice Phare Financial Services Limited to bring you holistic and discrete financial advice for your affairs.
Phare Financial Services Limited is an appointed representative of Best Practice IFA Group Limited which is authorised and regulated by the Financial Conduct Authority. Phare Financial Services Limited is entered on the FCA register (https://register.fca.org.uk/) under reference 916141.
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