FAQ
financial advisers in Portsmouth
Mortgage adviser in Waterlooville
Is life assurance really necessary?
We worry that our luggage might go missing on holiday or that our house might be broken into, so we take out insurance to protect against the financial impact of these things happening. But few people insure what's really important to them - their family.
Perhaps this is because we don't want to think about death and illness, or perhaps it just isn't a priority.
Despite almost 40% of people ranking life insurance as the most important type of insurance, research shows that many people are more likely to insure their possessions. Are you one of them? Does your home and the things in it have better insurance than you do?
Our biggest asset is usually our home. And our biggest debt is the mortgage that goes with it. So it's understandable that we choose to protect it. But if the unthinkable happened - is it really enough?
In today's world, the mortgage isn't usually the only payment we need to make each month. High utility bills, council tax and travel costs are just some of the other everyday expenses we face. So, even if you have sufficient life insurance to pay off your mortgage, could your family afford to continue living in their home?
It is now possible to purchase a plan that not only offers Life Assurance but also Critical Illness Cover, Income Replacement, Disability Protection and Unemployment Cover - all in one policy! If you would like more information on the different types of protection available, why not speak to us today? It could make the world of difference to your family if the worst happened.
Protect your income
The working world has changed dramatically in recent years. One thing, however, remains constant, and that's the fact that most of us need to work to pay the bills and to enjoy the good things in life. The big question is, what would happen if your salary stopped? What if you become ill or injured and are unable to work for a long period of time?
This is where Income Protection insurance comes in. It pays you an income if you're unable to work because of illness or injury - for example, a bad back or stress. You're probably thinking, "it will never happen to me" - and it's even harder to imagine when you're feeling in peak health - but life is unpredictable and illness can strike at any time.
Even if you have some savings, it's amazing how quickly these can be used up. And if all you have is the £70 or so a week that the State pays in incapacity benefit, would this be enough to cover your mortgage, food, utility and credit card bills, let alone maintain the lifestyle you've become used to?
Protecting your income gives you peace of mind, and won't cost you as much as you think. Why not speak to us to find out more?
Multi Manager Investing
With around 2000 funds in the UK to choose from, researching and making your own investment decisions is no easy task. Not only that but which are the best performing funds, what asset classes do I want in my portfolio, where do I want to invest and does the portfolio match my risk profile? All these are questions that many people ask.
A Fund of Funds offers a one-stop solution to the problems of fund selection and diversification. Rather than investing in companies as a traditional fund would, a fund of funds predominately invests in a mix of other funds - hence the name Multi Manager!
The job of a Fund of Funds manager is to know about the fund managers in the same way that other fund managers know about the shares of the companies in which they are investing. They use expertise to select and access what they believe to be the best performing funds in each asset class and region, whilst blending the funds together with the aim of producing enhanced returns.
A well-diversified portfolio is of great importance, as one should never hold all ones eggs in one basket! If you spread your money across a hundred companies, rather than just one, you are no longer reliant on the fortunes of that single company and the factors that affect it. Some of the investments may still go down but with thorough research and careful stock selection you would hope that more would rise. This is the benefit of diversification.
One of the most popular ways to invest in the current climate is through "pooled" funds such as Unit Trusts or open ended investment companies - this is where you, and many other investors, put your money into a "pot" and a professional fund manager invests on your behalf.
But a Multi Manager investment takes this further by investing in a broad range of funds. This effectively spreads the investment risk. A typical Multi Manager investment fund invests in between 12 to 20 separate investment fund managers.
It is not possible to fully explain the concept of Multi Manager investing in a short article, for more details and impartial advice, please us.
Retirement Planning
Most people recognise the need for planning to save for when we retire. The need for individuals to pay into private pensions has never been greater. With ever changing rules on pensions from the introduction of stakeholder pensions to pensions simplification, the number of retirement planning choices increases. Are you better off in a money purchase or final salary scheme, in an occupational scheme or a personal pension and which pensions funds offer your preferred level of risk and desired growth potential? This is where an IFA can help.
As you approach retirement, you will need an IFA to tell you which is the most appropriate way to draw your pension. Is it through a traditional annuity, phased retirement, income draw down or a combination? Only an IFA can advise on every aspect of pension and retirement financial planning.