Financial Services
At any time in your life, your financial and personal circumstances can unexpectedly change, and at that point, you want someone you trust to turn to for advice.
As Towers & Gornall treat our clients as friends, we’ve invested over 50 years in building deep, local trust in our accountancy, business advice and payroll services. It was vital therefore to choose the very best partner and fit for our financial services partnership.
Towers & Gornall’s independent financial advisory service to individuals and their businesses is a joint venture between Towers + Gornall and our carefully selected chartered partner 75point3. Chartered status, is a highly exclusive award reserved for the leading firms within the financial advice market, which meet rigorous criteria relating to professionalism and capability.
It’s nothing more than common sense when we're tasked with saving business people thousands of pounds per year in tax, that we should then check the personal financial plans for you, your family, and your staff, as well as make sure there’s protection for the business itself.
If we don’t ensure the money you worked so hard for is matched to your personal and family goals and then monitored, we’re only really doing half the job we could, when you can ask us for a financial health check to make sure all the ends are tied up. All Chartered Financial Planners commit to the CII’s Code of Ethics & Conduct reinforcing the highest standards of professional practice in their business dealings.
Individual Clients
Life Assurance
Protecting the things you value most in life (your family, your home, or standard of living) is largely dependent on your personal wealth. Setting aside money for a rainy day is a good idea, but your savings may not be enough to cover all your costs if something unexpected happens. One of the easiest and most common ways to protect your assets is insurance – whether it’s to protect your family, standard of living or health or even your home.
Savings and Investment
It’s important to review your savings and investment portfolios on a regular basis, to make sure they are still meeting your requirements and needs. Your investment aims and objectives may have changed, we ensure your investment strategy reflects this. Whether there is not long left until you retire or you are considering starting to save for your retirement, you might want to think about re-structuring your portfolio or putting a little more into it with spare disposable income.
There are so many different types of investments and savings plans available that seeking professional advice makes sense. We advise on the right kind of investment to suit your current plans, future aspirations and attitude to risk. We believe that all types of savings and investments should be reviewed on a regular basis.
Pensions
Our advisers can help you look at your financial planning for retirement, review your current provision and help you better understand your options. An informal chat with our one of experts will give you the advice you need. We provide impartial financial advice on current and preserved Occupational Pension schemes, including Final Salary (Defined Benefit) schemes, Executive Pension Plans (EPPs), Small Self Administered Schemes (SSASs) and Personal Pension Plans including Self Invested Personal Pensions (SIPPs).
Once you reach retirement, how you use your funds can often be the largest single financial planning decision you make. There is a wide range of options available and our financial planners are able to consider all of these and help tailor the best solution for your aspirations in retirement. Protecting the things you value most in life (your family, your home, or standard of living) is largely dependent on your personal wealth. In order to protect the important things in your life, you need to plan for the expected (retirement, death) and the unexpected (accident, unemployment and serious illness).
Setting aside money for a rainy day is a good idea, but your savings may not be enough to cover all your costs if something unexpected happens. One of the easiest and most common ways to protect your assets is insurance – whether it’s to protect your family, standard of living or health or even your home.
There are lots of different types of insurance, but their basic function is the same: to protect you and your loved ones from unexpected financial loss or costs.
Retirement Planning
Prior to retirement, when looking at pensions, there are so many questions and very often too few answers. Our advisers can help you look at your financial planning for retirement, review your current provision and help you better understand your options.
The value of investments and the income derived from them can fall as well as rise. You may not get back what you initially invested. Business Clients Services We Offer Corporate Pension Planning 75point3 advise on group arrangements, including Executive Pensions, Small Self Administered Pensions, Group Personal Pension Plans, Stakeholder Pension Schemes, and Self Invested Personal Pensions.
Directors may prefer to establish a separate pension plan from that of their employees. The reasons for this are that the term of their employment may be a fixed number of years, their tax position may be more complicated than other employees, or they may prefer to set up a form of self administered scheme more suitable to their circumstances. Directors and partners may also wish to leverage their company pension scheme at some stage to raise funding for the business. This may be a more tax and cost efficient way of funding the acquisition of commercial property.
Key Person Protection
The death or long-term illness of a key employee can have a devastating effect on the future of a business and 75point3 can arrange cover to assist a company in such occurrences. Directors and employees with highly specialist skills or knowledge are key employees of the companies they work for. To lose one through an unforeseen departure can be damaging to the business. That is why taking out a keyperson insurance to protect the company is a wise move. Keyperson insurances can provide several benefits.
These can include:
- Paying the costs of a temporary replacement
- Meeting the costs of recruiting a permanent replacement
- Covering the cost of death or incapacity of a key member of staff.
The full scope of cover will depend on the type of policy purchased but companies ignore the risks of losing key staff at their peril. Shareholders, bank managers, suppliers and customers may not be so laid back. Share Protection It is common to find that shareholders make plans for passing on their shares either before or after retirement. However, it is also important to ensure that sudden death of a share holder does not cause adverse financial predicaments for the remaining shareholders.
75point3 are able to advise on suitable protection plans. Directors’ or partners’ share agreements may provide for the remaining directors to purchase the shares of other shareholding directors should they die. However there is a risk that the remaining directors may not have sufficient funds to hand when a fellow director passes away unexpectedly. One way round this is to take out life cover as a source of funding. To arrange such cover requires the understanding and agreement of all concerned. It will also require some careful figure work to determine how much cover is required.
Employee Death in Service
The provision of a Death in Service Scheme for employees is a useful way of providing financial security for staff and their families. 75point3 can advise on the various ways of providing this cover.
