Saving for your future is obviously a good thing and often to achieve your goals, you may want to consider various options. These can range from cash deposits in the bank, which generally offer poor interest rates, but are low risk and accessible, to investments in the financial markets, which offer the potential of greater returns, but involve a level of investment risk.
When reviewing investment opportunities, we will consider the following:
- Assess the level of risk you’re willing to accept; noting this could differ depending on your goal (i.e. retirement planning may differ from school fee planning).
The timeframe of the investment, as this could impact any investment planning.
- Tax status of the investments, for example using ISA wrappers or capital gains tax allowances.
- Diversification of investments, from cash, bonds, property and equities. Within each of these categories there can be further diversification, i.e. such as different geographical markets for equities, from UK, US, Emerging Markets etc.
- The use of Trusts for estate planning.
- Lifetime ISAs to assist with first time house purchase or retirement (post age 60).
We will meet with you to get a better understanding of your circumstances, which will allow us to build a strategy that’s right for you. Our approach will include these stages:
- Plan – design the right strategy, incorporating the points above, such as time horizon, assessment of risk.
- Implementation – selecting the right provider and the underlying funds which match your requirements. Within this stage, we review investment costs and try to minimise these.
- Monitor – Regular review of your investment allows us to make sure it still meets your initial objectives or to adapt the plan to suit any changes in your circumstances. Also reviewing the underlying investment, to make sure the funds are still appropriate and match your risk outlook.
There are also other considerations we can discuss, such as whether should we overlay an ethical/socially responsible approach over the investment selection.
Condies Wealth Strategies Limited, trading as Condies Wealth, is authorised and regulated by the Financial Conduct Authority (FCA) no.748895.
Registered in Scotland SC381967. Registered office 10 Abbey Park Place, Dunfermline, KY12 7NZ.
The guidance contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. Trusts, some forms of estate planning/inheritance tax solutions are not regulated by the Financial Conduct Authority. All statements concerning the tax treatment of products and their benefits are based upon our understanding of current tax law and HMRC practices both of which are subject to change in the future. Levels and bases of reliefs from taxation are also subject to change, and are dependent on your individual circumstances'.