With offices in Newcastle, London, Richmond and Northallerton, we pride ourselves in being able to personalise financial solutions for each stage of a client's life. Financial planning is one of the longest professional relationships you are likely to experience and we would normally expect to advise a private client throughout their working life and into retirement.
We all have good intentions of researching financial markets and making changes to our investments, but in today's fast moving world people simply do not have the time, inclination or expertise to actively manage their own investments.
Working together with your Financial Adviser, our in-house Investment Analysts work with you to make investment decisions to reflect your needs, objectives and attitude to risk.
Finding the right mortgage can be exhausting and time consuming.
Our mortgage service is simple and straightforward, helping hundreds of people every year find the right deal on their mortgage and life insurance - saving them valuable time and money.
With so many lenders to choose from, you want the most suitable mortgage or remortgage deal no matter what your buying circumstances are.
Over 5.4 million individuals have already been auto-enrolled into a pension, and the number of
opt-outs from automatic enrolment have been low, making the current amount of people who
are saving for their retirement the highest since 1997.
Explaining the benefits of Care Planning to clients can be difficult, but our short video should help you to communicate the basics and emphasise Care Planning’s importance in your client’s wider financial plan.
Equity release is a way of releasing the wealth tied up in your property without having to sell it and move to another home. You can either borrow against the value of your home or sell all or part of it in exchange for a lump sum or a regular monthly income. Some plans give you the option to “draw down” further equity (cash) at a later date, based on your requirements.
The extent to which pension policies are being forgotten has been revealed in research from Aviva.A survey of almost ten thousand people who hold a pension has revealed that just under one in eight (13%) admitted they have at least one pension that they had forgotten about.This is equal to more than 2.5 million pension policies currently sitting in the back of people’s minds.
Have you considered all the potential costs of retiring? Some people find their expenses fall once their working life ends, but it’s important not that assume that all your expenses will go down – some may increase, such as heating and leisure costs.
Half of women (52%) are now saving adequately for their retirement compared to 60% of men, according to the latest Scottish Widows Women & Retirement Report. But while this maintains the record high levels achieved in 2015, the gap between men and women has widened since 2014 when 50% of women were saving adequately compared with 55% of men.
Presented by Chancellor George Osborne on Wednesday 25 November 2015, the Spending Review sets out
what government spending will be over the next four years, while the Autumn Statement is an annual update of
government plans for the economy.
Lifetime Individual Savings Accounts - Saving flexibly for a first home and retirement
Lifetime Individual Savings Accounts are being launched by the Government to help 18–40-year-olds to save and invest flexibly for the long term.The aim is that people will not have to choose between saving for their first home and retirement.
Gale and Phillipson is an independent whole-of-market firm. This means, when we give financial and investment advice, we consider all the options open to you – not just a favoured few. This document gives a brief introduction to these services.
The remainder of 2016 is certainly going to be a busy one, with April seeing a raft of changes announced previously – affecting pensions and savings – coming into effect. Below we’ve provided some of the key dates that could impact on your financial plans both this year and beyond.
Pensions have been transformed by the arrival of freedom reforms on 6 April 2015 which now give far greater flexibility over what you can do with your pension pot. The new freedoms mean you can enjoy far greater choice on how you spend and generate an income from your pensions, but with further changes on the horizon these are some of the key changes you need to know.
People who go abroad for over a month will no longer be eligible for pensioners’ credit. At present, housing
benefit and pension credit recipients can go abroad for up to 13 weeks while continuing to receive payouts.
The death of a close family member or friend is always a traumatic time for those left behind. It is often made more difficult for those relatives or friends who have been asked to be executors and to deal with the estate, because they often have difficulty in finding key documents and other important information that belonged to the deceased.
Use this useful tool to document what you own and where it is kept.
It goes without saying that everyone should take some time to review their portfolios every once in a
while. The only constant in life is change – and chances are your life has changed since you last reviewed
your investment portfolio.
This is our report on the result of the UK’s Referendum on continuing EU membership and its likely consequences. It’s our attempt to give you an overview of how things currently stand following the victory for Leave.
It’s natural to be looking for ways to smooth out your portfolio’s returns. Investing regularly can smooth out
market highs and lows over time. In a fluctuating market, a strategy known as ‘pound-cost averaging’ can help
smooth out the effect of market changes on the value of your investment and is one way to achieve some peace
of mind through this simple, time-tested method for controlling risk over time.
Time is ticking away to make smart year-end retirement planning decisions. It’s common knowledge that increasing our retirement savings will better prepare us for retirement. But in addition to saving for retirement, it’s also important to maximise on other ways to improve our retirement finances in 2016 and beyond. We’ve provided some year-end retirement planning tips that, if appropriate to your particular situation, you may want to investigate further.
A self-invested personal pension (SIPP) is a pension ‘wrapper’ that holds investments until you retire
and start to draw a retirement income. It is a type of personal pension and works in a similar way to a
standard personal pension. The main difference is that with a SIPP, you have greater flexibility with the
investments you can choose.
The new stamp duty took effect on 1 April 2016. For those buyers funding purchasing a new home with the sale of an existing home, if their buyer pulls out but they still want to go ahead - perhaps by using a bridging loan - they will be liable for the stamp duty surcharge because they will technically own two residential properties at completion.
Taxes, as we know, are one of the two great inevitables in life. As the UK tax system continues to grow ever more complex, and with more responsibility being placed on the individual to get their own tax right, ensuring that you receive the best professional advice to optimise your tax position is paramount.
By understanding which investments are the most tax-efficient, you can make the most of your options to minimise how much tax you pay. As well as deciding what to invest in, you need to think about how you’re going to hold your investments. Choosing tax-efficient investments will often mean you’re able to keep a higher proportion of any returns you make.
Reaching wealth goals and achieving personal ambitions are major objectives of the financial planning
process. In order to make plans for the future, you need to know where you are today and where you
want to be in the future.
2016/17 Year End Planning - Keeping your taxes as low as possible – what you may wish to consider sooner rather than later
The 2016/17 year end for tax planning purposes is now only a matter of months away, with the deadline approaching on 5 April. Effective tax planning is about knowing the personal and business taxes you are liable to pay and acting to legally minimise them. It is also about maximising your net income and creating opportunities to invest and save tax-efficiently for the current and future needs of your business, your family and yourself.
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Gale and Phillipson Ltd and its subsidiaries Gale & Phillipson (Life & Pensions) Ltd and Gale & Phillipson (Financial Management) Ltd are authorised and regulated by the Financial Conduct Authority (FCA 431387, 142752 and 195080) and all trade under the name Gale and Phillipson. Registered in England and Wales, numbers 05409822, 03751076 and 02232959.
Registered office: Gallowfields House, Fairfield Way, Richmond, DL10 4TB.