This month, our users are talking about investing in the less glamourous metals, the complexities of pension freedoms and how to grapple with tax mitigation effectively.
Users are weighing up adding metals to their wealth strategies?
Few can have missed the surging prices of a range of metals this year, from the classic stores of wealth, gold and silver, to the less glamorous – but just as important – hard commodities used in manufacturing.
We certainly are continuing to hear from users who want expert advice on whether they should look to diversify a portion of their wealth into gold and or silver, and the best ways to do so from a practical and risk mitigation perspective. Yet we have also noticed that copper has been coming up in these kinds of conversations increasingly, as investors think about the technological advances that are already revolutionising our world.
Taking a view on metal demand and prices is one thing; effectively executing on a position which meshes well with the rest of your portfolio is quite another
Those taking note of these developments recognise that electric vehicles, solar energy and computing advances including AI will require unprecedented amounts of copper in the years and decades ahead. They will have also seen some very interesting mining company takeover deals in the making.
Taking a view on metal demand and prices is one thing; effectively executing on a position which meshes well with the rest of your portfolio is quite another. Why not let us arrange some no-obligation conversations with investment experts from our panel so that you can explore the ways you can look to let metals prove their mettle in building your long-term wealth?
Anniversary of pension freedoms prompts rethinks
May marked the 10-year anniversary of pension freedoms being announced and the flurry of media coverage marking this seems to have prompted a great many people into having a retirement rethink. Retirement planning always spurs a large proportion of our enquiries, but in recent weeks markedly more so.
Pension freedoms refer, of course, to the fact that 2014 saw the removal of the requirement that people buy an annuity with their pension pot – meaning that people could explore many more ways to manage their funds and shape their decumulation period more precisely.
Pension freedoms are undoubtedly a good thing, but it is crucial to take proper retirement planning advice to make the most out of your nest egg – and to make sure you don’t pay more tax than you need to either
However, research by Standard Life confirms the confusion over what is possible that we have been seeing for years. Indeed, their surveying recently found that a full quarter of respondents aren’t sure what the options, rules and tax charges are, which very much aligns with what we hear too.
Pension freedoms are undoubtedly a good thing, but it is crucial to take proper retirement planning advice to make the most out of your nest egg – and to make sure you don’t pay more tax than you need to either. If your pension is your main concern, just let us know when completing your wealth manager matching questionnaire.
Top Tip
Lee Goggin
Co-Founder
Tax mitigation tops the talking points
We recently published a piece entitled, ‘Tax mitigation: why you owe it to yourself’ and that has certainly struck a chord across age groups and client types if our recent conversations with users are any indicator.
In that piece, we took a strong stance on why only paying as much tax as you absolutely must should be just as much of a priority as growing your wealth through earning and investing it. People are often afraid that reducing your tax bill is in some way risky or even immoral, but it is nothing of the sort. It is entirely legal to avoid paying unnecessary tax by using reliefs, certain structures, timing schedules and so on, and we would say that not simply giving wasteful governments a blank cheque also helps keep them honest too.
Tax mitigation is an area where you really do need specialist advice, however, since the tax code is complex and tiresome to navigate for a reason
Tax mitigation is an area where you really do need specialist advice, however, since the tax code is complex and tiresome to navigate for a reason. Many of the wealth managers have whole teams of financial planning and accountancy experts on hand and can meet needs from the relatively simply to the very complex completely in-house.
Why not see how much a professional wealth management provider could drive your tax bill down?
Address all your wealth concerns, all at once
Our Client Trends pieces reflect a truism we’ve seen throughout our 12 years of matching wealth managers to people just like you: many are wrestling with a number of hopes and fears around their wealth management plan, all at the same time, and often for years on end without taking any advice.
With a good wealth manager, the weight is really taken off. Your investment portfolio, pension pot, tax concerns, estate planning and more can all be taken care of by an integrated team of advisers, with domain experts brought in as and when you need them besides. That kind of service can make all the difference to your wealth, but also your mental wellbeing too. Why not get in touch to find out how we can help you get in a position where you can relax?
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.
