We are delighted to introduce the latest addition to our team Paul Arnold, who has joined us as an Independent Mortgage Consultant.

Paul has 25 years financial services experience and is responsible for overseeing our £10 million plus in mortgage approvals in the last 6 months.

He holds the CEFA & CMAP qualifications in mortgage and insurance advice.

Paul is already a big hit with many new and existing clients he has helped since joining our ranks and if you would like to talk to Paul about how to finance the purchase your next home, pay your mortgage off early, buy new business premises or any other mortgage related query then please call him at the office on 0845 0179 578.

Buying a Commercial Property with your pension fund is an area of financial advice that we are often involved with. There are many reasons why this can be a good (and sometimes not good) thing to do.

To help you work out if this type of pension investment might be suitable for you take a look at the following short case study of actual cases we have advised on.

Case Study 1

Mr & Mrs Client each have a various pension funds adding up to about £75,000 each which they are no longer paying money into. They run a small retail business and rent premises for £20,000 per annum off Mr Landlord. Similar premises next door have been put up for sale for £200,000. They approached their business bankers for a business loan to buy the property but were put off by the need for a deposit of £70,000 (35%).

They decided to combine their pension funds giving themselves a combined pension pot of £150,000. Their pension funds then borrowed a further £50,000 from a High Street bank enabling their pension funds to buy the premises next door.

They served notice on Mr Landlord and then moved their business next door. They signed a new 6 year lease with their pension funds who are their businesses new landlord. They still had to pay £20,000 per annum rent but now it was being paid to their pension fund rather than a third party landlord.

There are some other potential benefits too such as pension fund assets being protected in the event of business bankruptcy.

There is a lot more to consider when considering this kind of pension investment. For instance, do you use a Small Self Administered Scheme (SSAS) or two Self Invested Personal Pensions (SIPP) as the pension vehicle? Which banks will lend to pension schemes and what is the best rate? How does the pension scheme pay retirement benefits? What happens in the event of death etc?

If you are interested in buying a commercial property with your pension fund please contact us for further guidance.

We are delighted to announce the arrival of Mary McHugh to our firm. Mary joins us from Coventry University where she was awarded the degree BA Business & Finance with Honours 1st class.

Mary’s dissertation was entitled “The Efficient Market Hypothesis, Behavioural Finance and Stock Market Anomalies” which aligns very well with many aspects of our financial planning business such as our wealth management advice, investment risk profiling and the new rules on Auto Enrolment Pensions.

In addition, Mary undertook a piece of independent research examining the effect of “sports sentiment” on the stock market and was awarded a 1st for her coursework entitled “Controversies, Options and Potential Outcomes of the Current Pension Issues in the UK”

We asked Mary about what she gained from her educational experiences that she would bring to Simpson Financial Services

“Studying for my degree not only provided me with a thorough grounding in financial theory, financial services and business strategy, but also developed proficient time management and prioritisation, research, problem solving and analytical skills.”

We are sure Mary will be an outstanding addition to the team here at Simpson Financial Services.

We are starting to see a increasing number of Employers realise the scale and complexity of dealing with the new Auto Enrolment legislation and while you can deal with it yourself the Nine Guides from The Pension Regulator is enough to put off even the most competent of firms.

At Simpson Financial Services we have been planning and preparing for this for over 4 years and are able to offer a full advisory service to Employers which will mean that you are able to deal with the rules compliantly and maintain your reputation with your staff as a quality Employer. We can help you in the following areas:

Find out your staging date

Review your current pension scheme(s)

Assess your workforce

Model different ways to comply with the Auto Enrolment Rules

Design a new pension scheme or amend your existing pension scheme

Create an Auto Enrolment Implementation Plan

Implement the changes required

Engage with your workers and deal with employee communications

Make sure your record keeping is compliant

Provide ongoing governance and advice

There is a lot to do and time is running out. If you would like to discuss how we might be able to help you then please call the office on 0845 0179 578 and ask to speak to Rob Simpson who is the pensions expert.

Congratulations to one of out top advisers, Edwina Hudson, who has today received her full accreditation from the Society of Later Life Advisers (SOLLA). Edwina has a number of years experience as an Independent Financial Adviser and this accreditation recognises her additional skills in the area of financial needs of older people.

Advisers who have taken the further steps to become independently accredited can offer the added reassurance that they offer the practical help and guidance needed to make the right decisions at the right time. Surprisingly, Edwina is the only accredited adviser in the whole of Warwickshire which probably explains why she is a very busy lady.

If you would like to discuss your own, or an elderly relatives financial planning requirements then please contact Edwina at our office on 0845 0179 578. Please note we do not charge for any initial consultation that you need.

The Telephone Saver (Issue 1) from BM Savings offers an attractive rate of interest, currently, 2.75% gross/AER (variable) for the yearly optionor 2.72% gross/2.75% AER for the monthly option and gives you easy access to your money by telephone 24/7.

The accounts operate as straightforward personal savings accounts with no notice required for withdrawals from your savings. Here are some of the additional features offered;

TelephoneSaver (Issue 1)

  • Save any sum from £1,000 to £1 million (£2 million for joint accounts)
  • No hidden costs or charges
  • Easy access to savings
  • Joint account holders will each have their own set of passwords so they can each run the account. Interest is variable, calculated daily and is paid either yearly or monthly. Interest can be paid to the account, to another BM Savings account or paid to another UK bank or building society account that accepts Faster Payments.

For more information and how to apply, please contact Rob Simpson on This email address is being protected from spambots. You need JavaScript enabled to view it. or call the office on 0845 0179 578.

We’re very pleased to announce that Plum, Midas and Prestige have joined our panel of non-standard household insurers.

Non Standard Buildings and contents insurance is for out of the ordinary risks. Typically this will include thatch and other non-standard constructions, adverse claims history, subsidence and underpinned properties, declined, refused or cancelled insurance, convictions, bankruptcy, professional sportspeople or entertainers, Unoccupied properties, holiday homes, even blocks of flats.

Basically, anything which would normally be declined on a standard home insurance policy.

You can send us brief details of your property here or please call the office on 0845 0179 578

We are delighted to announce the appointment of Neil Dawkins to our ranks as our Independent Mortgage Consultant.

Neil has had many years financial services experience with some of the heavyweights of the life and pensions industry and brings his professional and friendly style to the world of mortgage advice. He holds the Chartered Insurance Institute’s Mortgage Advice Certificate and their Financial Planning Certificate.

For the last 9 years Neil has been advising on residential and commercial mortgage and now brings that wealth of knowledge to Simpson Financial Services.

If you would like to talk to Neil about how to finance the purchase your next home, pay your mortgage off early, buy new business premises or any other mortgage related query then please call him at the office on 0845 0179 578.

Thanks to everyone who came to our Retirement Planning Seminar on Wednesday. It was great to see so many old and new faces and I think everyone managed to keep awake for the duration of the presentation. Even the part on alternatives to annuity purchase!

For those of you who completed the Investment Risk Questionnaire we will be in touch with you over the rest of this week with your results. Of course, this is only a discussion report but it is a good starting point and a little more scientific then asking if you are you a low, medium or high risk investor.

Can I also thank everyone for their feedback on the seminar. There is so much to cover on such a wide subject as retirement planning and your feedback allows us to make sure that we cover all the relevant parts in future seminars too.

I still think my most important slide is the pre-retirement planning slide covering “Where are you invested now?” and I know that most of you with pension funds aren’t 100% sure. By just spending a little time (and money) you can make sure that you are invested in the correct place in the run up to retirement and find out if any of your older pension policies are lucky enough to have guaranteed annuity rates or guaranteed investment returns hidden in the small print.

If you do have any queries about your own pre, at or post retirement planning them please feel free to contact me or book yourselves onto our next retirement planning seminar here.

Avoid the common financial mistakes at retirement by getting advice from the experts at our Retirement Planning Seminar.

Join us at our Coventry office for an entertaining and insightful look at the steps you should be considering as you approach your retirement.

What you will learn:

  • How to maintain your standard of living in retirement
  • Effective ways to generate the maximum level of income from your pension funds and other investments
  • Avoid overpaying Income Tax, Capital Gains Tax and Inheritance Tax
  • Various strategies to preserve and protect your capital
  • Your attitude to investment risk (each attendee will receive a free psychometric risk assessment worth £60)
  • Call our office on 0856 0179 578 to reserve your place or click here to book online.

Your speaker for this event is Rob Simpson who is Managing Director of Simpson Financial Services and has been an Independent Financial Adviser for over 15 years.

Who should attend?

If you are less than 10 years away from your retirement or if you have already retired but are concerned about your current financial planning arrangements.

REGISTER ONLINE NOW

This seminar is free to attend but please book early as we only have limited places left.

Getting a divorce can be an extremely stressful time in your life and also a costly one too. And, if you and your “Soon Too Be Ex” are having to sell the marital home you will probably need to prove to each other what your ability to successfully apply for a new mortgage is. You will also need to prove what level of borrowing you are likely to be able to achieve. That’s why Simpson Financial Services offer a comprehensive and personalised Mortgage Capacity Assessment.

A Mortgage Capacity Assessment Report takes into account a number of constantly changing lending criteria such as:

Lending into Retirement

Interest Only Mortgages

Outstanding credit commitments

Adverse Credit

Equally as important, if you and your ex cannot agree on a financial settlement then it will be left to the court to decide. If you are asking a judge to determine what percentage of the matrimonial assets you are going to receive it would be wise to make sure that the judge knows how much money you need to be able to house yourself.

Our mortgage capacity assessments start from £85.00 and can be modelled to look at your maximum borrowing based on different outcomes of the financial settlement. To discuss your requirements please call the office today on 0845 0179 578.

We are delighted to announce that Edwina Hudson, our later life financial adviser, has been accepted into the Society of Late Life Advisers (SOLLA) as an associate member.

SOLLA aims to assist consumers and their families in finding trusted accredited financial advisers who, understand financial needs in Later Life.

Now more than ever what is needed is not simply a well qualified financial adviser but somebody who you feel you can rely upon to understand the plans you need to make for your retirement years and the complexities of the many decisions you may need to face when looking at issues such as care funding matters SOLLA links you with an adviser who can help you find solutions that work for you and where they are involved, your family too.

Financial advice should take you to the stage where you can make clear and informed decisions, happy in the knowledge that you had all the information and choices you needed to reach those decisions.

The Society is dedicated to linking those who need advice to accredited Later Life Advisers who can advise on:

Equity release

Long term and respite care options

Annuities

Investments and savings

Tax planning (IHT)

Later Life Advisers specialise in the financial needs of older people. Professional qualifications whilst essential are unlikely to give the full picture of an adviser expertise. Those advisers who have taken the further steps to become independently accredited can offer the added reassurance that they offer the practical help and guidance needed to make the right decisions at the right time. Why would anyone choose an adviser with anything less?

The Later Life Adviser Accreditation Scheme is audited and endorsed by the standard-setting body the Financial Skills Partnership (FSP) and was developed in collaboration with the specialist financial services consultancy SVARfair.

If you or a relative are concerned about your later life fi

 

 

 

 

It takes 5-6 minutes to get your own personal prioritised action plan to help you make the most of your money

Simpson Financial Services and the Money Advice Service are working together to help members of the public with their money matters.

The health check is the latest in a series of tools from the Money Advice Service to help everyone manage their money as effectively as possible

Please click here or above to do your health check

We would particularly recommend you do this if you prior to your next meeting with us or if you haven’t seen us in the last 12 months. We know how useful it is because we’ve used it ourselves.

Of course, there are a number of ways to finance divorce when you and your spouse are both in retirement but their are some options are not open to you because of your age. However, your age can also work for you and open up other routes to sort out your financial settlement. This week I asked our Later Life Adviser, Edwina Hudson, for an example of where she can help couples seeking divorce to consider their options.

Case Study

Following his divorce, Robin, 71, who lives in Gloucestershire, looked at a number of options in terms of financing the split from his ex-wife. He researched the equity release option and chose to take out a Bridgewater Maximum Release Plan.

Robin’s reversion plan completed in January 2008 and he immediately used the money he released to pay off his ex-wife’s share of the property as part of their divorce settlement.

Robin acknowledges the decision to opt for the home reversion plan was a difficult one to make however he now regards it as the best one for him and the outcome was successful. Robin lives in a cottage and he wanted to ensure that he could stay in his home for as long as he wished. The plan enabled him to free up the stored equity in order to meet his own responsibilities following the divorce settlement.

Robin does not have any dependants therefore the issue of inheritance was not a major consideration. With his ex-wife now paid in full, Robin says he is looking forward to continuing his life at the cottage he loves where he intends to spend the rest of his days.

Of course, this kind of outcome is not suitable for everyone and our advice is based on each persons individual circumstances. If you are in over age 55 and want to ensure that yuo are considering all the options available to you then please call us in confidence on 0845 0179 578.

I am delighted to announce the appointment of Edwina Hudson to the ranks of specialist advisers at Simpson Financial Services. Edwina is a Later Life Adviser and she has joined us to provide independent financial advice in the areas of Equity Release and Long Term Care.

Edwina is able to work directly with you as the person actually requiring advice in these areas or you may be appointed by Power of Attorney to be responsible for a relatives financial well being.

Importantly, Edwina has over 10 years experience as an Independent Financial Adviser. She holds the Chartered Insurance Institute Diploma in Financial Planning and the Chartered Insurance Institute Certificate in Mortgage Advice, Equity Release and Long Term Care.

If you would like to arrange a consultation with Edwina then please call her at the office on 0845 0179 578. Your initial consultation is always free of charge.