Wealth Management

Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks.

Whatever your level of wealth, there is nothing wrong in making the decision to prepare a risk strategy. Risk awareness and planning is a prudent strategy for anyone who is unsure that they already have ample to provide for themselves and their family into the future. There are plenty of ways of preserving wealth in real terms, protecting against most of the uncertainties that may threaten it and allowing you to feel in control of your future. The unidentified risks are a far greater threat to your wealth than tax. While tax may threaten a proportion of your wealth, poorly considered decisions can destroy it all. Our service is all about helping you with professional wealth management advice to create, build and protect your wealth and minimise your tax liability in a wealth preservation plan which we will develop and monitor over a long-term, on-going relationship.

Financial Planning

Professional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. G&G Wealth can help you make informed decisions about your financial future, short, medium and long term.
You will almost certainly have plans of one kind or another - buying a home, starting a family, living abroad, perhaps retiring, but such ambitions have financial implications and you can't leave it all to chance. Careful planning aims to help turn your plans into reality and the sooner you start your financial planning the greater your chance of realising your goals, including

Help to increase the value of your savings & investments in a tax efficient manner. Protect yourself and your dependants' income in case of unforeseen problems. Increase the after-tax legacy you pass on to your beneficiaries. You can rest assured that we will provide you with expert financial advice plus regular reviews and evaluations of your financial plan.
Call us today for a no obligation chat about planning your financial future.

QROPS

Qualifying Recognised Overseas Pension Scheme (QROPS) is an overseas scheme that meets local tax rules, is recognised by Her Majesty’s Revenue and Customs (HMRC) and offers varied retirement planning opportunities for non-residents of the UK.This type of pension scheme is based outside the UK and is available to individuals who have UK based pension funds but who are living outside the UK. HMRC defined the legislation in April 2006 allowing the transfer of UK pension funds to other schemes which meet their requirements. It is particularly valuable to individuals who have left company pension funds in the UK but who reside abroad and have little intention of returning to the UK in the near future. For any individual who has been entered into a pension scheme in the UK (regardless of Citizenship) there is a possible advantage in moving the fund of their pension scheme into an environment where the proceeds of the pension may be treated more favourably. G&G Wealth has agreements with several Pension Scheme providers so we can pride ourselves in our ability to select the best scheme, in the right jurisdiction at the best price for the client.

Issues such as currency, residency and tax status of the country of retirement are paramount in making sure an investor has chosen wisely when transferring a pension fund from a UK scheme into a QROPS and using such a scheme allows freedom of movement, whilst ensuring the pension is in the best possible environment for the investor’s future. At G&G Wealth we are dedicated to making sure you receive the best, most professional advice concerning your pension and your retirement.

Pensions

When you retire, you will of course want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance or windfall, then you need to provide yourself with a secure income for the rest of your life.

A well prepared pension plan which is regularly reviewed should go some way to providing you with a reasonable level of income in your retirement.
A pension plan requires action as soon as possible, so start now - and if you have already started, take the opportunity to have a closer look at your existing arrangements to make sure you are on track.

Once you come up with a figure, add in an amount as a buffer against the unforeseen and unexpected. Now you will have arrived at the amount of pension that you should ideally be planning for. Also, bear in mind that pensions are taxable, so you will need to allow for payment of Income Tax when arriving at your final pension figure.

It is very important that you review the benefits of your scheme and the status of your personal plan, to establish if it is on track to give you the pension you want.
If you are in an employer's scheme you should be able to obtain a statement from your employer outlining the scheme benefits. Alternatively, contact us and we can analyse your current provisions and make any recommendations with the aim of achieving your goals. For a personal pension, the level of contributions you have been making to your scheme, investment performance and charges will determine the size of your pension,however, as the years go by, your fund should increase and get to a size where the investment returns come into play. The larger your fund, the more advice you may need on managing the fund for optimum performance, because every percentage point increase or decrease could potentially represent thousands of pounds.

We will be pleased to regularly assess your benefits to establish whether they still have the potential to meet your objectives, and make appropriate recommendations to you.

Savings

You cannot be an investor without being a saver - but you can be a saver without being an investor.
When someone talks about savings and saving money, it could be referring to a piggy bank on the mantelpiece or a high interest deposit account. Savings are effectively cash or cash instruments, such as deposit accounts, term bonds etc.

Investing is what you can do with the savings you have created - if you are looking to generate a return on your money that is greater than what is already available to you through your savings instruments.

As a saver, you will be taking very few and very small risks with your money. As an investor you are taking a much greater risk. Not only is the return on offer to you likely not to be fixed or guaranteed, the capital sum you invest may be at risk as well. So why would anyone want to take such risks? The short answer, of course, is because the potential rewards may be greater and you want to generate more from your money than is possible by simply leaving it in a bank or building society deposit account.

Since there are so many different types of savings and investments, and there are potential risks with investments in particular, it is wise to seek expert advice which can be tailored to suit your own circumstances.

Life and Health Insurance

The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners.

It can provide the reassurance of financial protection for you, your family and your business associates.

A Life Assurance policy pays out a sum of money when the person who is covered by the plan dies. The money is intended to settle any outstanding debts and support your dependants financially by providing them with a further lump sum or a regular income if you die.

The type of Life Assurance and the amount of cover will depend on an individual's particular circumstances and requirements. Factors to consider will include age, dependants, level of income and financial liabilities.

Premiums are normally paid to the insurance company either monthly or annually for a fixed period of time or in some cases, until death.

Health Insurance is probably one of the most important types of insurance you can own. Without it, an illness or accident can have serious long-term financial implications for you and your family.
Most people will be aware that Health Insurance can cover the cost of private medical treatment for any acute conditions you may suffer in the future - from something as simple as a broken bone to more serious conditions like a heart attack or cancer. However, there are a number of other types of Health-related Insurance policies which are worthy of serious consideration:

These include:

• Critical Illness
• Income Protection

Some of these policy types cover the scenario where you are unfortunately unable to work because of illness or injury. Knowing that the regular household payments will be made and your financial commitments met during a difficult period in your life can offer peace of mind for the future.