Wealth Management for Families, Trusts & Charities
Whether you are just starting out, approaching retirement or have already retired, pension advice is vital at every stage of your life. Our bespoke, value for money strategies aim to ensure you have a comfortable and sustainable income in retirement.
Our recommended providers undergo continuous and rigorous assessment to ensure that they deliver for our clients.
Our carefully selected investments benefit from decades of our market experience and proactive monitoring, with a focus on consistency and quality.
Making full use of your pension savings allowance each year is key to building your retirement fund, whilst benefitting from valuable income tax reliefs.
Our ongoing review service includes annual income sustainability modelling to ensure your retirement remains on track.
It is common for individuals to join a workplace pension scheme and hope for the best. Often a default fund is selected, which may not always be appropriate.
Salisbury FS frequently reviews ‘pensions baggage’, a term we describe as a series of ‘pension pots’ accumulated during a client’s working life. Our role is to review each plan, assessing whether there are any advantages to leaving the plan in situ, or combining them into a more contemporary pension plan, often with lower charges.
The downside of leaving a pension review until you are contemplating retirement is often ‘lost opportunity’. A ‘default’ fund which has underperformed over the long-term may not have grown as much compared to a proactively monitored investment strategy. As clients approach retirement, there is often little time left before they start to draw down on their pension benefits.
Salisbury FS encourages potential clients to invest in their future by considering retirement advice early on in their career, which, in our view, can maximise their retirement opportunity.
As you approach retirement, you may have questions in your mind. Do I buy an annuity, or do I drawdown from my existing pension?
Deciding which approach is appropriate for you should be based on a number of factors, such as age, health, family, overall financial resources, taxation, actual income required and the need for future income flexibility. Our highly qualified and experienced advisers can evaluate all of your circumstances and tailor a solution that best meets your future needs.
For clients who take income via drawdown, advice (initial and ongoing) is essential. A key to maximising your retirement fund (pension) is to ensure that you are taking a sustainable level of income from your pension. Salisbury FS will review your retirement funds and consider other assets and resources to formulate your bespoke retirement income plan.
Salisbury FS will advise you on what we consider to be a sustainable level of income from the outset, which will be monitored and reviewed as part of our ongoing service to you.
The sustainability of pension income is a complex area, balancing costs, portfolio performance, personal taxation etc. Whilst costs can be controlled, market performance cannot. Therefore, it is beneficial in our view to have an investment strategy that is proactively monitored, with annual income sustainability forecasting. Regular reviews help ensure that income withdrawn from your portfolio remains sustainable and in the event of market underperformance, or changes in your own situation, your retirement plan can be reappraised and fine tuned.
Without ongoing monitoring, there is a risk that your investment strategy may not be positioned for the market at that time and the level of income withdrawal may become unsustainable i.e. your resources may deplete during your own lifetime.
The value of investments can go down as well as up. Past performance is no guarantee of future performance.
“We are committed to delivering an outstanding level of advice, support and ongoing service to our clients. Salisbury FS recognises each client as an individual, with their own needs and preferences, hence our ongoing services are tailored to the needs of each client. We also recognise that our clients rely on us to look ahead for them. Our proactive service ensures that we keep our clients informed of the need to make changes ahead of time. Proactive, not reactive.”
Tom Beckett, Managing Director - Salisbury FS
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