As Kevin and Fiona’s family and careers have developed they have been advised by Mike Pole for the last 25 years. Their objectives and needs have changed over the years, and regular financial planning reviews have ensured their immediate needs, and longer term savings goals have been met.
Kevin & Fiona have had hugely successful careers in two different and very demanding professions. After a number of years as Womenswear Product Director at Next Plc, Fiona became Brand Director for George at ASDA. Kevin has run his own business for the last 20 years, New Look Windows manufacturers, suppliers and installers of uPVC windows, doors and conservatories.
During the late 1990’s they had two young children, and their needs were focused on trying to save for the longer term and also protecting their financial position if either of them should suffer ill health or a worse fate! This can often present a priority issue for clients, they may want to save for retirement and the longer term but need to focus limited resources on covering more immediate requirements. Putting in place a financial plan and regularly reviewing can ensure that priorities are adjusted and met as circumstances change.
As Fiona’s career took off and Kevin’s business developed a strong local reputation, their attentions turned more to saving for the longer term in a tax efficient manner. We considered the merits of various savings methods including the relative efficiencies of:
Personal Pensions and Self Invested Pension schemes where tax relief can be obtained at the investors highest marginal tax rate (20%, 40% or 45%). Also ensuring that trusts are used to efficiently deal with any benefits on early death.
Enterprise Investment Schemes and Venture Capital Trusts where tax relief of 30% can be obtained often with better accessibility than pensions.
A suitable Investment Portfolio actively managed to match a clients agreed level of investment risk being mindful to ensure all allowances are utilised to further enhance overall returns.
“Mike and his team have been very helpful over the years. Our financial position has continually changed and Mike has guided us through the relative complexities to come out with the right solution. The most important thing to us has been the personal service we have always had from Pole Arnold.”