Brightwell ’s Post

Don’t leave your family an avoidable IHT bill.☺️ Families have contributed £4.6 billion in Inheritance Tax (IHT) during the first seven months of the 2023/24 financial year (April to October) – marking a 12% increase from the same period in 2022.😮 Taking steps to reduce the value of your estate during your lifetime can lower your family's IHT obligations in the future. While many people are familiar with the option to gift money to minimise their IHT liability, not everyone is aware that workplace pensions and death-in-service benefits can be safeguarded to avoid IHT. Read more... https://lnkd.in/eZXjStKx #financialeducation #wealthmanagement #moneymatters #financialwellbeing #reachyourgoals #savelittleandoften #financialadvice

One notable compensation claim this year occurred back in June, when we represented our client Mr D.J. as he sought a claim against Andrew Deeney and Darren Reynolds, both of Active Wealth (UK) Limited (FCA authorisation number 631415). Previously holding a pension with Standard Life, our client was advised to open a SIPP with Intelligent Money and to transfer his pension with Standard Life to Intelligent Money. This in itself was bad advice. However, to add insult to injury he was then advised to “invest” in Greyfriars Portfolio Six which was an extremely high-risk portfolio. Active Wealth (UK) Limited charged our client £1,500 and made the arrangements, taking high-risk investments and moving our clients money into the SIPP. The company was then reported to have entered administration and was no longer authorised by the FCA - with our client losing tens of thousands of pounds in savings. Luckily, our client got in touch and we pursued a claim against the advisor to the FSCS - obtaining compensation on our client’s behalf of £𝟓𝟎,𝟎𝟎𝟎. https://lnkd.in/etQ5PQaK #pensioncompensation #pensions #investments

The Financial Services Compensation Scheme (FSCS) is a crucial UK government-backed initiative designed to safeguard your finances in case a financial services provider you've utilized faces insolvency, ensuring you don't lose what you're owed. FSCS offers compensation for deposits in banks, building societies, and credit unions, pensions, insurance, and investments. #FSCS #FinancialProtection #Investing #Insurance #Pensions

🎉𝗕𝗣𝗔 𝗗𝗲𝗮𝗹: Aviva 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝘀 £𝟮𝟬𝗺 𝗳𝘂𝗹𝗹 𝘀𝗰𝗵𝗲𝗺𝗲 𝗯𝘂𝘆-𝗶𝗻 𝘄𝗶𝘁𝗵 𝗕𝗣𝗧 🔐Securing the future for 49 deferred members and 50 pensioners 🔹 𝗞𝗲𝘆 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀: 🛡️ Broadstone: Annuity broking, actuarial services, investment consultancy, and scheme administration 📜 Womble Bond Dickinson (UK) LLP: Legal advice 🗣Adam McGhin, Grainger PLC “We have been working with our advisers to secure the position, and with their support identified that a buy-in transaction was the optimal approach for the members, trustees and the company.” 🗣Paul Donnelly, Aviva “We worked exclusively with the trustees early in the process to ensure a smooth and straightforward transaction. The scheme was extremely well prepared which meant we could proceed at pace, using our streamlined service, Aviva Clarity.” 🗣Bob Jenkinson, Broadstone “By preparing the scheme well, we were able to swiftly complete the transaction through Aviva’s streamlined process. The transaction achieves the objectives of the trustees and company, highlighting the benefits of following our SM&RT Insure process.” #Pensions #Retirement #Finance #Investment #RiskManagement #BusinessGrowth #BulkAnnuity #Insurance #FinancialServices #Pensions #BusinessGrowth #PensionRiskManagement #BuyoutSuccess #FinancialSecurity #PensionScheme #RiskReduction #ProfessionalMilestone #StrategicCollaboration

A recent Professional Pensions poll indicated that 84% of trustees believe the increasing regulatory pressures will lead to trustees leaving their roles. Charles Ward, from Dalriada, provides crucial insights into this trend. Charles highlights various factors behind trustees considering their exit, particularly member-nominated trustees (MNTs) and company-nominated trustees (CNTs) facing increasing regulation, lack of connection with sponsors, and time commitment challenges.   Despite these challenges, some schemes, especially those open to future accrual or where members feel a close connection, still see robust volunteerism.   For schemes shifting to a sole trustee model, this change often stems from sponsors seeking operational efficiency and value for money by outsourcing governance.   Looking ahead, with most schemes now closed to future accrual, the demand for sole trusteeship will rise. This model is seen as efficient for managing transactions and achieving cost-effective outcomes.   As we navigate these evolving dynamics, it’s clear that maintaining expertise and ensuring robust governance will be critical. The conversation around trustee roles, regulatory impacts, and professionalisation continues to be more important than ever. 🔗 Read the full article here: https://lnkd.in/eVGewQjC   #Pensions #Trustees #Governance #Regulation #Leadership 

Are there lessons from the UK’s preoccupation with the property ladder that can be applied to savings habits? 🪜 Recent abrdn research underlines how property is seen as the gateway to financial freedom, but pensions and ISAs are often overlooked. 🪜 Property and investments are not mutually exclusive, but the tendency to favour property ahead of all else presents a collective societal and governmental challenge. 🪜We have suggested a series of policy proposals to encourage people onto the Savings Ladder to plan, save and invest for their futures. Read more about our Savings Ladder manifesto and our proposals to help Britons build the savings they need for the retirements they deserve. #SavingsLadder #ISAs #Pensions

🚀𝗕𝗣𝗔 𝗡𝗲𝘄𝘀: M&G plc 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝘀 𝗮 £𝟯𝟬𝟵𝗺 𝗕𝗣𝗔 𝗱𝗲𝗮𝗹🎉 📈 M&G announced its 𝘁𝗵𝗶𝗿𝗱 𝗯𝘂𝗹𝗸 𝗮𝗻𝗻𝘂𝗶𝘁𝘆 𝗱𝗲𝗮𝗹, with an unnamed scheme amounting to £309m. 💼 This follows M&G's re-entry into the bulk annuity market, 𝗮𝗶𝗺𝗶𝗻𝗴 𝗳𝗼𝗿 £𝟭𝗯𝗻 𝘁𝗼 £𝟭.𝟱𝗯𝗻 𝗶𝗻 𝗮𝗻𝗻𝘂𝗮𝗹 𝘀𝗮𝗹𝗲𝘀 🏦 The previous deals included transactions with M&G Group Pension Scheme and Northern Bank Pension Scheme, totalling £617m. 🔍 𝗘𝘅𝗽𝗲𝗿𝘁 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: anticipate increased choice for pension scheme trustees with the growing BPA market. #BulkAnnuity #Insurance #FinancialServices #Pensions #BusinessGrowth #PensionRiskManagement #BuyoutSuccess #FinancialSecurity #PensionScheme #RiskReduction #ProfessionalMilestone #StrategicCollaboration

No-one regrets starting earlier when it comes to building wealth 🤝 Before Christmas, I spoke to a lovely lady who was 25 years old, running her own Ltd Company which was very successful and profitable When creating any financial plan, before we start, we need to understand what assets there is now She mentioned that her father had set something up, but in all honesty, didn’t know what it or have any details 🤷 After further investigation we managed to establish that her father had in fact set up a Junior SIPP (Self-Invested Personal Pension) and had been contributing into it since she was born 👏 The maximum you can contribute into pensions, and get tax relief, is 100% of UK earnings, or £3,600 As there was no earnings, the maximum would have been £3,600, which is a net payment of £2,880 Contributions were made, year after year, so a quarter of a century later, the individual had just over… £230,000 😱 They didn’t even know about it Or even comprehend the magnitude of the amount they had It can’t be accessed until Normal Minimum Pension Age, which is still over 30 years away But that’s more years to potentially continue to grow, and a significant amount to provide financial security in the future The earlier you’re able to start, the easier it is 🤝 So why not start today by getting in touch on 0151 346 2218 📞 or drop me an email to [email protected] 📧 and let’s start building your families wealth today     #EndeavourFP #Pensions #JuniorSIPP #StartingEarly A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation Approved by In Partnership FRN 192638 15/02/2024 Endeavour Financial Planning Limited is an appointed representative of In Partnership the trading name of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Registration number: 07527645 Registered in England and Wales

In an election year, and ahead of the Spring Budget, we have today launched our ‘Manifesto to get Britain investing’. While the housing ladder has become central to how many think about their financial lives, pensions and savings tend not to be treated with the same enthusiasm. Based on new research and polling conducted with Opinium, we’ve put forward five key recommendations to foster a greater saving and investing culture in the UK and to help people onto the savings ladder: 🪜Start a national conversation about saving and investing 🪜Simplify ISAs 🪜Remove Stamp Duty on UK shares and investment trusts 🪜Increase DC pension contributions 🪜Boost and measure financial literacy Read ‘The Savings Ladder: a Manifesto to get Britain investing’ with commentary from our CEO, Stephen Bird and London Stock Exchange CEO, Julia Hoggett. https://ow.ly/tuEp50QF1EY #SavingsLadder #Pensions #ISAs

I've found a new way to track my lost pensions, child trust funds and investments.   UK financial organisations have £2.8bn in forgotten or unclaimed investments.   Want to find yours?   It's called Gretel - link in comments.   A free service to find lost.   • Pensions. • Bank accounts. • Savings accounts. • Child trust funds. • Shares.   What's the catch?   There isn't one.   They don't sell data and make their money from the providers.   Let me know how you get on and spread the word.   Time to find the missing money.   Life By Design   Guiding successful families to financial freedom.   #personalfinance #money #lifebydesign #investments #tax