Don’t put off making financial decisions – call our Lonsdale advisers now

Friday 3 July, 2020

Don’t let the Coronavirus pandemic stop you from taking independent financial advice if you need it.  Call our qualified St Albans Lonsdale Wealth Management financial planners on 01727 845500 or contact our other offices, if you require pension advice or help with savings and investments.  We offer new and existing clients a secure online financial planning service.

Many people still unsure about purchasing financial products

Information from You Gov and our own client experience shows that many people are cautious and are putting off key financial decisions since lockdown.  According to You Gov the number of people in the UK saying they don’t intend to purchase a financial product rose from 31% in the days before lockdown to 37% at the end of March 2020 and is now still fluctuating above 35%.

Richard Porter, independent financial adviser, St Albans, Hertfordshire said: 

‘We understand that people are concerned about their current financial situation, so they don’t want to act until there is more certainty, but some people will be disadvantaged if they don’t make financial decisions at certain times so they shouldn’t put off seeking financial advice.  For example, if you are 55 you may be entitled to take a tax-free lump sum from your pension, but it is important to consider all sources of income before making a decision about your pension which is why speaking to a financial planner is important.  Taking independent financial advice when you reach your 50’s could reduce the tax you pay in future and save you money over the long-term.  Similarly, for anyone in retirement who is living off income drawdown it is important that you review your investment portfolio regularly and get up to date pension valuations to ensure your investments still provide the required level of income.  Many people also need estate planning advice, an independent financial adviser can set up your investment portfolio to help reduce inheritance tax, so your family inherit more of your money on your death.’

Due to retire in 2020 or 2021? - plan ahead and call our independent financial advisers for independent pension advice

If you are due to retire within the next year our independent financial advisers in St Albans, Barnet, Harpenden, Ware, Stafford, Ringwood and Leeds / Bradford can recommend the most cost-effective way to manage your finances in retirement.  Our Lifetime Financial Planning cashflow analysis reviews your assets, savings, pension and investments.  We discuss your current and future income and expenditure to ensure you make the right choices in retirement.  By meeting your Lonsdale adviser annually, you get peace of mind that your finances are on track to achieve your financial goals in retirement.

According to the Pensions Advisory Service website:

‘Making decisions about your pension based on short-term events and circumstances can have long-term consequences for your financial wellbeing and retirement. Before making any major decisions about your pension, it is important to get independent guidance or advice.’

Richard Porter, member of the St Albans, financial planning team continued: 

‘Some of our clients were understandably concerned at the dramatic falls in the equity market earlier in the year, but we remind clients that there are always periods of volatility, and investors should always remain focused on the long-term.  Clients we have spoken to recently are often pleasantly surprised that their current portfolio valuation have bounced from their current inter-year lows.  Nobody knows what lies ahead and this market volatility could continue for some time, but if you have a pension or an investment portfolio it is important to review it regularly and make changes where necessary.  If you employ an independent financial adviser, you can be confident that we make the best financial decisions on your behalf, so you don’t need to worry about managing your investments or funding your lifestyle in retirement.  

Offering new and existing clients a secure online financial planning service

We are now offering secure online financial planning advice for new and existing clients.  For more information Read Simon Prestcote's - How clients benefit from our online financial planning service.

In Summary…

We offer a free initial consultation to discuss your financial requirements.  Call us now on 01727 845500 or complete our booking consultation and your local financial adviser will be in touch.’ 

The value of an investment and the income from it could go down as well as up. The return at the end of the investment period is not guaranteed and you may get back less than you originally invested. The contents of this article are for information purposes only and do not constitute individual advice. ‘The Financial Conduct Authority does not regulate tax advice.

 

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