Business & Professional Business
Money Matters: 10 10 Years of Belper IFS: Spirit Our First Decade Entrepreneurial 10 years years ago, ago, Belper Independent Financial 10 We are living in times where inflation has become Solutions was was formed after its founder (me, Solutions a bigger than expected issue and thefrom rising cost Kevin Glover) Glover) was The Kevin made redundant The of living has seen us look at ways to hopefully Derbyshire Building Building Society. Derbyshire grow our monies in excess of the inflation rate to Sincethen, then, Belper Belper has seen the loss of The Derbyshire, Since Derbyshire, compensate.Somerfield, Woolworths, Somerfield, Thomas Thomas Cook Woolworths, Cook and and Britannia Britannia Building Society Society to name but but aa few few long-standing Building long-standing Unfortunately, thistoisname to happen given present institutions that are are not nowlikely confined to institutions that confined to history. history. interest rates availablenow via cash deposits. So, if we want to Generations of people have been served or been Generations of people been served been make our savings grow inhave real terms, then weormust accept customers of these these organisations. You are customers of You are probably probably some investment risk.organisations. There is no real alternative to one. State Pension Age has changed several and one. State Pension Age changed several times times and accepting some risk or thehas certain consequences of your so again. again. At AtTaking least more interest will most likely do so will do least interest rates have cashmost losinglikely ‘purchasing power’. riskrates doeshave mean not changed much! Rubbish then and not much accepting there is potential for some loss of capital atbetter any not changed much! Rubbish then and not much better today. time, too. today. Consider this ––that joining the EU was of considered History shows over the longEU periods time cash isthe Consider this joining was considered the right right decision once upon time. asset classes in terms of total consistently oneupon of theaa worst decision once time. returns. Other asset classes include shares, property and
From my dining room in 2009, to an office in Heanor, fixed interest suchroom as GILTS and corporate bonds. Some From my dining in 2009, to an office in Heanor, back toalso Belper and nowrare to the present location, much would favour crypto, metals and alternatives such back to Belper and now to the present location, much has changed including the greyness my hair and the as art and even spread betting includingof currency. has changed including the greyness of my hair and the size of my waistline! Now as a team of 8 we have seen size of mybase waistline! Now asthe a team of‘Generous’ 8 we have seen the client expand over years. For most investors though, they will look to invest into the client base expand over the years. ‘Generous’ successive new legislation conventionalChancellors investmentsintroduce such as Cash ISAs, Stocks & Shares successive Chancellors new legislation impacting the public andintroduce signposting the need for offers ISAs or maybe into a Personal Pension. Each of these impacting the public and signposting the need financial advice.tax-breaks and shields the investorfor some attractive from financial advice. tax on the returns (should they make any – as investment returnsabout are not guaranteed). and Personal are in yourPensions lives over What you – what hasISAs changed in lives over What about you – How what many hasthough, changed effectively tax-wrappers it isyour what is held in the last 10just years? jobsbut have you had? Has the last 10 years? How many jobsstruck? have you had? Has these tax-wrappers thator needs careful consideration. Some your family extended tragedy How many your family orhouse? tragedy struck? How many are far riskierextended than others. There is a spectrum of investment times have you moved How many pension times have you moved house? Howofmany pension risk and what is you suitable for investor will be suited schemes have been aone member andnot simply left, to schemes havereason you been a member of and simply everyone.one through or another? How many cars,left, through or events another? How many cars, partnersone andreason other life have occurred? An alternative for thelife ‘entrepreneurial minded’ are Venture partners and other events have occurred? Capitalmany Trustsinvestments and Enterprise Investment Schemes. These How have you made and when types many of investments are not mainstream offer some How investments have you made and when were they last reviewed and looked at?butMy point is were they last reviewed and looked at? My point is
amazing tax-breaks as well as access to some potential stellar
returns doubtadvice very high risk insolution nature.should It is this thatthe thealbeit needwithout forfinancial financial advice and should that need for and aasolution high risk that as the government supports and encourages by one-off. Financial products andsolutions solutions notbe beseen seen asaaUK one-off. Financial products and not offering generousright and at highly tax-breaks. Not suited wereprobably probably right atthe theattractive time,but but justhow howmuch much has were time, just has to the inexperienced or cautious investor, for sure! changed since changed sincetheir theirinception? inception? Both VCTs and EIS (whether offer Income Taxinin relief of upwrappers to 30% oror Investment funds held pension Investment funds (whether held pension wrappers provided you have the income support your investment. alternative structures such and Shares ISAs), alternative structures suchasastoStocks Stocks and Shares ISAs), For example, anby investment of £10,000 can provide a £3,000 are who are also aremostly mostlyrun run byfund fundmanagers managers who are alsohuman human tax-rebate effectively is used to off-set taxes on other beings. humans they retire, defect totoother beings. As Aswhich humans theymay may retire, defect other sources suchor as run rental income or conventional earnings such companies, out ofofluck! Solutions that may have companies, or run out luck! Solutions that may have as pension income, dividends or salary. EIS and VCTsor were been right atatthe start may no longer be suitable been right the start may no longer be suitable or designed to attract private investment into fledgling UK effective. fund managers inin2009 may no effective. Leading Leadingto fund 2009 may nolonger longer companies seeking raisemanagers finance when looking to expand. be leading fund managers asaswe approach 2020. be leading fund managers we approach 2020. Sounds a bit like Dragon’s Den?
They In 2015, pension regulations changed. Theywill will InApril April 2015,tax-free pension regulations changed. VCT s provide dividends and EIS look to invest monies almost certainly change again. from prior toto almost certainly change again. Pensions Pensions into the ‘next big thing’. Typically, the fledglingfrom firmsprior will not this time may no longer be suitable – but just how would this time may beIndustry suitablesay – but just how would all survive. The no EIS longer and VCT to expect typically you So, your turkey over youknow? know? So,as asyou you sitmunching munching your turkey overthe the 30% total failure but thesit other 70% can go on and comfestive consider how ofofthese festiveperiod, period, consider howmany manynot thesequestions questions pensate with significant returns albeit guaranteed. Both apply you and benefit having EIS andto s Managers try tomay mitigate riskfrom by doing lots aofa apply toVCT you andsee seewhat what may benefit from having review. research review. into the companies they support and effectively buy into but also spread the risk by typically investing in a
Is take collection of time 20-50 companies. Is2020 2020the the timeto to takeaalook lookatatyour yourfinancial financial arrangements arrangementsonce onceagain againand andget getthem themfitfitfor for purpose? So, there are many different investment opportunities and purpose?
it’s about researching the best option for you. Knowing your
Wishing you happy 2020 and a prosperous next options whyaaseeking advice can10 match Wishingis you happyindependent 2020 and a financial prosperous next 10 years. your investment to meet your needs. years.
By Kevin Glover, Belper IFS ByKevin KevinGlover, Glover, Belper By Belper IFSIFS This information is general only and is not intended to Thisinformation information is general notdata intended This is general onlyonly andand is notisThe intended to requirements. abovetoshould address your particular requirements. The data address yourparticular particular address your requirements. data above shouldshould not not be relied upon in its entirety andThe shall not be above deemed notbe beorrelied upon in its entirety not betodeemed be relied upon in its entirety and shalland notshall beordeemed be or to constitute advice. No individual company should constitute advice. Noadvice. individual company should act upon such to be or constitute Noorindividual or company should act upon such information without receiving appropriate information without receiving appropriate professional act upon such information without examination receiving appropriate professional advice after a thorough ofadvice their after aprofessional thoroughsituation. examination of their particular situation. of their advice after a thorough examination particular particular situation.
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