Efficient retirement savings routes continue to be front of mind, along with ways to inflation-proof portfolios and reduce Inheritance Tax liabilities.
Higher earners continue to ponder their pension options
It seems inevitable that the enormity of the black hole in the nation’s finances will hit the High Net Worth before too long, and it has long been thought that pensions relief are an obvious choice to be on the chopping block. If rumours about the methods Chancellor Rishi Sunak will deploy to balance the books are to be believed, we could see the abolition of higher rate pension reliefs in favour of a flat rate.
It is thought that millions of higher earners would be affected by the introduction of a flat rate relief, many to the extent of their pension saving strategy being completely upended
It is thought that millions of higher earners would be affected by the introduction of a flat rate relief, many to the extent of their pension saving strategy being completely upended. What’s more, this is just one of the developments which have prompted our users to review their retirement savings in recent times. We urge investors to take advice to ensure their pension strategy remains fit for purpose. Let us arrange some initial discussions fast and free.
Moves are afoot to inflation-proof portfolios
UK inflation has been hitting three-year highs and exceeding the Bank of England’s 2% targeti. But while research has indicated that as many in three in five self-directed investors are noticing the effect of inflation in their everyday lives, a massive four in five still have not made any tangible changes to their portfolios as yetii. This, however, is very different to the picture we are seeing.
While research has indicated that as many in three in five self-directed investors are noticing the effect of inflation in their everyday lives, a massive four in five still have not made any tangible changes to their portfolios as yet
A great many investment concerns bring affluent individuals to our site seeking advice, but inflation is coming up in our conversations more and more. Many of our users face costs sensitive to inflation like private school fees and so need to inflation-proof their portfolios as a matter of urgency. Erosion of spending power is obviously also a worry for those who have already retired and are in the decumulation phase of their retirement planning.
If you are concerned about how well your portfolio is well positioned for a potentially damaging bout of inflation, you have nothing to lose by taking advantage of a few free initial consultations with wealth managers from our panel. A few clever adjustments now could make all the difference in time.
Top Tip
Lee Goggin
Co-Founder
Serious intentions to minimise IHT
Although people looking to minimise the Inheritance Tax liabilities payable on their estate always make up a significant proportion of our users, we’re noticing a real uptick in people wanting to be really strenuous in their efforts and who have clearly done an impressive amount of research. IHT is politically a relatively easy target for a hike, or at very least reform, and our users want to be prepared.
Although people looking to minimise the Inheritance Tax liabilities payable on their estate always make up a significant proportion of our users, we’re noticing a real uptick in people wanting to be really strenuous in their efforts and who have clearly done an impressive amount of research
We are hearing, for instance, from families keen to claim a tax credit called the “downsizing addition” – a notoriously difficult to deploy but potentially very powerful tax mitigation tool. There is also significant interest in how to structure wealth so it can pass down the generations tax-efficiently though Family Investment Companies as well as trusts.
Our Knowledge Centre offers a huge range of expert features tackling family wealth management issues, but please do get in touch to discuss your particular requirements.
See how professional advice could further your ambitions
There is no doubt that affluent individuals are going to have to be more proactive than ever to effectively protect and grow their wealth in the months and years ahead.
We’re encountering a lot of new users who have been managing their own investments, but who now feel it’s time to take professional advice. Equally, we’re hearing from many people who have an established wealth management relationship, but who want to check their provision represents the best possible value for money.
There is no doubt that affluent individuals are going to have to be more proactive than ever to effectively protect and grow their wealth in the months and years ahead
Whatever best describes you, you potentially have a deal to gain, and certainly nothing to lose since we arrange free, no-obligation discussions with a shortlist of firms perfectly matched to you.
i ONS
i Stake
Important information
The investment strategy and financial planning explanations of this piece are for informational purposes only, may represent only one view, and are not intended in any way as financial or investment advice. Any comment on specific securities should not be interpreted as investment research or advice, solicitation or recommendations to buy or sell a particular security.
We always advise consultation with a professional before making any investment and financial planning decisions.
Always remember that investing involves risk and the value of investments may fall as well as rise. Past performance should not be seen as a guarantee of future returns.
