We’ve spent the last few months talking to our customers to understand what makes them tick, from their hopes, fears, and their expectations.
Here, we round up your top questions. Keep reading to see if we’ve answered yours…
We’ve already covered this topic in another blog, but since the ‘B’ word keeps creeping up, here’s a quick answer.
When it comes to investing money, it’s best to get professional advice that will best match your circumstances, but as a general rule, firms that make most
of their money abroad are doing well. Following the initial post-referendum panic, firms that make their money overseas will benefit from the sharp decline in sterling.
To read our full blog, click here.
Some of our clients are planning for retirement, which was made slightly more complicated a few years ago, thanks to pension freedoms. They’re designed
to give you much more flexibility, and open up options that weren’t available previously.
You can take a quarter of your savings as a tax-free lump sum, but instead
of using the remainder of the money to buy an annuity (providing you with
an income until you die), anyone over 55 can now withdraw the whole amount.
It’s important to carefully consider your options, and if you’re still unsure, seek advice, be it from the government’s advice service or an independent provider. We’ve gone into a bit more detail in this blog.
Many of our clients told us that they already use online banking apps
to manage their money, and this trend isn’t going to change any time soon. Expect to see new apps and online platforms that allow you to manage
a number of assets in one go.
It’s also likely that the tech giants will get in on the action, think Amazon Bank or Google Finance (not yet in existence, but it’s only a matter of time).
This is thanks to Open Banking, which is increasing competition between financial service providers.
In the coming months, start-ups will begin unveiling new services that are tailored to the individual. If you’re interested in finding out more, read our blog.
Everyone has a different set of circumstances, as well as different goals, but like anything, it’s important to do your research and plan ahead. Keep track
of your finances too. This can be done using a simple spreadsheet or using an online app, like our very own Simply Wealth app.
Having all your personal information in one place really helps you to make informed choices.
Finally, make sure you trust your financial adviser. You need to know that they have your best interests at heart, as well as a wealth of experience behind them. Once again, do your research.
This advice may seem straightforward, but it’s always best to keep things simple!
Shortlisted for Inspirational Woman of the Year Award
We are delighted to announce that our Operations Director Fiona Murphy has been shortlisted as a finalist for Inspirational Woman of the Year at the Business Women Scotland Business Awards!Read more