48d32c118d Fiduciaries Archives - Switchfoot Wealth
Webinar for home care providers

Webinar for home care providers

Webinar for home care providers

Written by

We welcome SOLLA Affiliate member Claire Edwards of Claire Edwards Eldercare for a presentation designed for home care providers.  We discuss the benefits of SOLLA and being a SOLLA Affiliate and also discuss how to support people with continuing health care funding applications (CHC), attendance allowance along with options for self-funders paying for care.

Switchfoot Wealth Limited Independent Financial Adviser

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Webinar for home care providers

Webinar for home care providers

We welcome SOLLA Affiliate member Claire Edwards of Claire Edwards Eldercare for a presentation designed for home care providers.  We discuss the benefits of SOLLA and being a SOLLA Affiliate and also discuss how to support people with continuing health care funding...

Mind the Gap

Mind the Gap

Mind the Gap “My investments have reduced in value”. In 2022, this has been one of the main reasons that new clients have shared as to why they are now seeking financial advice. No-one relishes seeing red when logging in to see their investments. However, it’s...

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Principal Office: 147 Frimley Road, Camberley, Surrey, GU15 2PS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

Mind the Gap

Mind the Gap

Mind the Gap

Written by

women and dad

Mind the Gap

“My investments have reduced in value”.

In 2022, this has been one of the main reasons that new clients have shared as to why they are now seeking financial advice.

No-one relishes seeing red when logging in to see their investments.

However, it’s important to see this in the context of a long-term financial plan.

Markets go down and up, and not necessarily in that order.

How one behaves in such circumstances is key.  We spend a lot of time educating and informing clients to help ensure that decisions aren’t taken that will have long-term negative consequences.

The above chart is a good way to illustrate this.

This details the maximum fall during the year (red dots) and the overall change in the entire year (blue bars) across a mixed investment of mainly equities and fixed interest assets (e.g. bonds).

 What it shows is that in every year of the past 25, the year has ended with the portfolio in a better relative position to its lowest point. 

In 2020, the portfolio fell by 15.4% during the early stage of COVID but recovered to end the year up by 5.3%.

During the financial crisis of 2008, the portfolio ended the year down 21.5% but this was still higher than the low point of 25.8% reduction.

And now we’re seeing the same in 2022.  The lowest point reached so far this year was 12.8% down but we’re on track to end the year around 8.8% down.

What’s the takeaway from this?

Resist the temptation to react and “cash-out” at the bottom of the market.

History shows that portfolios recover, often in the same year and then in the years after.

Minding this gap may well be what enables success in your long-term financial plan.

 

Please note: Investments carry risk. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

 

Steve Day
Independent Financial Adviser

 

 

Switchfoot Wealth Limited Independent Financial Adviser

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Webinar for home care providers

Webinar for home care providers

We welcome SOLLA Affiliate member Claire Edwards of Claire Edwards Eldercare for a presentation designed for home care providers.  We discuss the benefits of SOLLA and being a SOLLA Affiliate and also discuss how to support people with continuing health care funding...

Mind the Gap

Mind the Gap

Mind the Gap “My investments have reduced in value”. In 2022, this has been one of the main reasons that new clients have shared as to why they are now seeking financial advice. No-one relishes seeing red when logging in to see their investments. However, it’s...

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Principal Office: 147 Frimley Road, Camberley, Surrey, GU15 2PS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

Caring for the Carers

Caring for the Carers

Caring for the Carers

Written by

women and dad

*Image from Centre for ageing better

Caring for the carers

Recent research by Care UK[1] estimates the number of unpaid carers in the UK at 10.6 million. My sister is one of those. She cares for my mother who lives with her and I know the physical and emotional strain this results in, as it does for everyone in this situation.

This presents a real issue.

If the health and well-being of the carer deteriorates, then what happens to be person (or sometimes people) being cared for?

We encounter this regularly from a financial perspective.

A relative will make contact with us to seek advice as to how to ensure the financial well-being of someone that they are caring for.  Often they will talk about the burden associated with managing money on behalf of someone else.  They will also share how difficult it is to navigate through the multitude of processes involved in seeking financial support for care.

What we don’t hear them talk about very often is their own financial situation.

The need to manage someone else’s money added to the physical, emotional and practical support that they are providing gives little if any headspace for the carer to think about themselves.

Our view is that this is an issue.

In the same way as deteriorating physical well-being of a carer will have a knock on effect to the person being cared for, so it will should their financial well-being deteriorate.

Therefore we believe in the importance of carers focussing upon their own financial circumstances, goals and resulting plans.

In order to do this, we appoint two members of the team – one to provide advice to the carer relating to the person being cared for, and one to provide advice to the carer themselves.

Our experience is that this provides space and time for all aspects to receive focus and be properly considered.  It also helps to ensure that no conflicts of interest arise, or could be perceived as arising, when a carer has been appointed as an attorney for the person being cared for.

Ultimately our objective is to improve and maintain the financial well-being of the carer and the cared for.

This grants headspace and time for the care that people want to provide through emotional and practical support.

 

Steve Day
Independent Financial Adviser

 

[1] State of Caring 2022 – November 2022 – Carers UK

www.carersuk.org

Switchfoot Wealth Limited Independent Financial Adviser

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Webinar for home care providers

Webinar for home care providers

We welcome SOLLA Affiliate member Claire Edwards of Claire Edwards Eldercare for a presentation designed for home care providers.  We discuss the benefits of SOLLA and being a SOLLA Affiliate and also discuss how to support people with continuing health care funding...

Mind the Gap

Mind the Gap

Mind the Gap “My investments have reduced in value”. In 2022, this has been one of the main reasons that new clients have shared as to why they are now seeking financial advice. No-one relishes seeing red when logging in to see their investments. However, it’s...

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Principal Office: 147 Frimley Road, Camberley, Surrey, GU15 2PS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

A guide to investment strategies

A guide to investment strategies

A guide to investment strategies

Written by

A guide to investment strategies
Any good independent IFA will tell you that there’s never a ‘one size fits all’ investment strategy. The way you plan your savings and investments depends on several factors, and it’s only after finding out about your current situation and understanding what you want from your financial future, that an advisor can put a relevant plan together for you.

Considering your needs

The first thing to do is think about your financial requirements. This includes not only your current levels of income and spending, but the money you will need in the future. And this future planning is both about having the cashflow to maintain the lifestyle you want, and preparing for other costs, such as care. In fact, one of the first questions you might be asked is whether there are other ways of meeting your requirements, apart from standard market investments.

There is also likely to be a conversation about emergency funds – do you have any? How can you build them up? Perhaps you have too much cash in the bank and that money could be working harder for you elsewhere. The job of a financial planner is to look solely at your status and needs and give you relevant advice that reflects your short, medium and long-term requirements.

Your investment philosophy

Part of putting your personal investment strategy together is to find out what you are interested in and comfortable with. This includes finding out what level of risk you are most comfortable with. All investment presents a risk – you might want your pension to be a lower-risk investment but an ISA to be higher risk, for example. By understanding how you feel, your financial adviser can look at funds that are most suitable for you. This also applies to types of funds – for example, at Switchfoot Wealth, we recommend sustainable funds as the default option, because they make long-term financial sense, but you may choose to invest in funds that support other industries.

Spreading the load

It’s generally good practice to make sure that investments are diversified enough to protect the investor and their money. Of course, this depends on the overall wealth of each client and their respective needs, but the aim is to protect the money, and to put it in places where it will grow – depending on the markets, of course.

If you are looking for reputable independent financial advice, or would like to review your current investment strategies, Switchfoot Wealth can help. Contact us today to make an appointment.

For Professional Fiduciaries. Not aimed at retail clients.

Switchfoot Wealth Limited Independent Financial Adviser

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Webinar for home care providers

Webinar for home care providers

We welcome SOLLA Affiliate member Claire Edwards of Claire Edwards Eldercare for a presentation designed for home care providers.  We discuss the benefits of SOLLA and being a SOLLA Affiliate and also discuss how to support people with continuing health care funding...

Mind the Gap

Mind the Gap

Mind the Gap “My investments have reduced in value”. In 2022, this has been one of the main reasons that new clients have shared as to why they are now seeking financial advice. No-one relishes seeing red when logging in to see their investments. However, it’s...

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Principal Office: 147 Frimley Road, Camberley, Surrey, GU15 2PS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

Helping solicitors and deputies manage complex financial arrangements

Helping solicitors and deputies manage complex financial arrangements

Helping solicitors and deputies manage complex financial arrangements

Written by

Helping solicitors and deputies manage complex financial arrangements

If you have been appointed as an attorney or a deputy, you have a duty of care to manage your client’s financial arrangements to the benefit of either the client themselves or the beneficiaries of any trust, depending on circumstances.

When your client’s financial arrangements are complicated, managing them can take a significant amount of time. You need to be aware of the full range of current investments, including any savings, trusts, share ownership, property, business assets and pension schemes. You will also need to be able to review those investments and assets to make sure that they are benefitting your client and are able to fund long-term plans such as full-time nursing care.

You will also need to make sure that any other attorneys involved with your client’s case – who are often family or friends – are behaving appropriately, and have the tools in place to spot any attempts to defraud your client. That means having a good overview of all accounts – particularly cash accounts such as current accounts or savings accounts – so that you are aware of any unusual spending or transactions.

How could we help?

All this mounts up to a significant responsibility for practising solicitors, accountants or other professional advisers. So how can a financial adviser help you?

Independent assessment of current plans and investments – a qualified and regulated independent financial adviser can review current arrangements, including the fees paid, to see whether your client is getting the best value for money. In fact, you can start this process straight away by using our free calculator.

Help you ask the right questions – understanding how different investment vehicles work allows you to ask key questions of your current investment advisers so that you can be sure your client’s money is being properly invested and is producing the best returns.

Review financial plans – your client’s current financial investments may not be suitable for their current situation or their future plans. It’s particularly important to consider your client’s cash flow, and whether it is appropriate for their needs. By reviewing financial plans, you could make your client’s portfolio less complex, or be able to make a clearer plan for the future.

Access the full market –existing finances and investments should be reviewed by comparison to all reasonable options. By working with an independent financial adviser, you can access the full investment market on your client’s behalf, which may give you access to better products and opportunities.

If you are currently managing complex financial arrangements for clients, feel free to call us to see how we could help you review what’s in place. Our free calculator and meeting guide gives you advice on the sort of questions you can ask of existing investment advisers, and you can also choose to ask us to run a specific appraisal report for your client’s current finances.

For Professional Fiduciaries. Not aimed at retail clients.

Switchfoot Wealth Limited Independent Financial Adviser

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Webinar for home care providers

Webinar for home care providers

We welcome SOLLA Affiliate member Claire Edwards of Claire Edwards Eldercare for a presentation designed for home care providers.  We discuss the benefits of SOLLA and being a SOLLA Affiliate and also discuss how to support people with continuing health care funding...

Mind the Gap

Mind the Gap

Mind the Gap “My investments have reduced in value”. In 2022, this has been one of the main reasons that new clients have shared as to why they are now seeking financial advice. No-one relishes seeing red when logging in to see their investments. However, it’s...

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Principal Office: 147 Frimley Road, Camberley, Surrey, GU15 2PS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

Why did Switchfoot Wealth choose to work with Sense Network?

Why did Switchfoot Wealth choose to work with Sense Network?

Written by

Switchfoot Wealth Limited Independent Financial Adviser

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Webinar for home care providers

Webinar for home care providers

We welcome SOLLA Affiliate member Claire Edwards of Claire Edwards Eldercare for a presentation designed for home care providers.  We discuss the benefits of SOLLA and being a SOLLA Affiliate and also discuss how to support people with continuing health care funding...

Mind the Gap

Mind the Gap

Mind the Gap “My investments have reduced in value”. In 2022, this has been one of the main reasons that new clients have shared as to why they are now seeking financial advice. No-one relishes seeing red when logging in to see their investments. However, it’s...

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Principal Office: 147 Frimley Road, Camberley, Surrey, GU15 2PS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.