Chase Wealth Solutions - Introductory Brochure

Comprehensive Personal Financial Planning Service

Welcome to Chase Wealth Solutions Supporting Isle of Man Accountants With ongoing low interest rates forcing investors to seek higher-risk investments, continuous changes in pension legislation and the coming of age of cash flow planning, we believe we can provide an invaluable service to accountants and their clients to provide a comprehensive personal financial planning service.

Chase Wealth Solutions are part of Chase Financial Services, a company with over seventeen years experience as an Independent Financial Service Provider. The staff at Chase Wealth Solutions are all highly qualified, with experience in every aspect of providing independent advice.

At Chase Wealth Solutions we: ■■ Are tied to no company or group of companies so we can give truly independent advice ■■ Understand everyone is an individual so we provide highly tailored solutions to meet their needs ■■ Bring together the experience of specialists in Investments, Pensions, Protection and Mortgages to provide a holistic financial solution ■■ Act ethically, always give honest answers, provide clear charging and excellent service throughout the advice process In the sections which follow we outline a brief overview of the services we can provide to your clients, greater detail is available on our web-site at www.chasewealth.im.

Chase Wealth Solutions are independent Financial Advisers so we are able to research the whole market for the best value financial solutions for you and your clients.

The enlightened way to managing your financial future Think about who do you go to when you want to plan your financial future?

After all, when you plan your career you may go to a careers adviser or seek advice from your chosen profession.

When you want to keep fit you might hire a personal trainer.

And, if you want to improve your diet then you would consult a dietician and of course medical professionals will help you look after your health.

In a world of financial uncertainty, boom followed by bust, record low interest rates, wages failing to keep up with inflation, it’s easy to switch off – to ignore your own finances and just hope for the best. However, reality isn’t like that, we all need to plan for our financial futures, to give us and our families’ security and to get our finances working for us so that we can get the best out of our lives. This is where we hope our comprehensive personal financial planning service will bring an element of certainty into a very uncertain world.

For seventeen years our family run business, Financial Options has served the Island with the provision of financial advice on mortgages, family protection and savings and investments. Now through Chase Wealth Solutions we have taken this a stage further, a step much better, by launching a new service which will change the way you think about managing your clients’ finances.

We believe that financial advice can no longer just be based on an immediate need and through the sale and provision of ad-hoc financial products. Rather financial professionals need to provide a complete, holistic approach to managing clients’ money for today, tomorrow and for the rest of their life. With this in mind we have developed a new comprehensive service for you and your clients. With the help of sophisticated software our highly qualified advisers can plot on-going financial requirements, calculate when you will be able to retire, what protection may need to have in place and project forward a complete picture of your clients’ financial future.

The questions you might really want answered Most people invest to get the highest return they can (subject to their tolerance to risk), plan to retire at the ‘normal’ retirement age (hoping they can), buy / or don’t buy protection (life assurance, critical illness cover and so forth) to meet a perceived need.

But wouldn’t you really like to know: ■■ When you can retire and still meet your financial needs?

■■ Will you be able to leave an inheritance for your children – and how much?

■■ How much do you need to save for your children’s education?

■■ What risks you need to take with your savings and investments – or do you need to take a risk at all?

■■ How much protection (insurance) do you need for your family and what is the most appropriate type?

Chase Wealth Solutions through Cash Flow Planning can help you answer these questions for your clients. The process involves a thorough review of your clients’ finances, understanding their financial objectives, their lifestyle wishes (such as retirement plans) and important contributory factors such as their attitude towards investment and savings risk. Only through effective Cash Flow Planning can we attempt to provide answers to these critical questions.

The Financial Solution Lifestyle Financial Planning results in projections based upon the information you give us, possible scenarios – the “what-if” situations and then the formation of a plan. Only if there is a need will we recommend a solution, be it an altogether new policy or a change to a savings or investment plan, a change to your pension plan, an amendment to your protection plan or perhaps a switch of mortgage provider.

Chase Wealth Solutions are able to provide a comprehensive wealth solutions service by offering the Cash Flow Planning service together with other support services which must be looked at hand in hand in order to create a truly effective financial plan.

The Pension Service Many people find pensions both confusing and boring. It is true that as pension legislation constantly evolves, so complexity and confusion can arise. However as you know pensions are nevertheless essential and unless well-managed can provide disappointment for clients in later life.

How we can help We are pleased to offer a review of your clients’ pension arrangements without charge. Only in the event that our review produces recommendations to make changes to the pension provision will a quoted charge be made for implementation of the changes.

Where we recommend changes then the costs and benefits, including our costs, will be clearly identified in a comprehensive report, which takes into account the client’s objectives, full financial position and attitude to risk.

The client is then free to instruct us to make changes or not.

Benefits for your client Our comprehensive pension review service will help your client establish: ■■ If they are paying excessive fees and if we can reduce them ■■ The return they are getting on their pension and if we can improve it ■■ If their pension investments meet their objectives and attitude to risk ■■ How much income their pension will provide them and how it could be increased ■■ Options for taking the pension ■■ If they can avoid unnecessary and significant taxation of their pension monies ■■ If they hold illiquid or unsuitable investments

Recommendations and ongoing support In our report we will summarise our finds, recommend solutions and then provide ongoing reviews and client support. The client is free to accept or reject our recommendations without obligation.

The Investment Service With interest rates at record lows anyone who has relied upon traditional bank and building society accounts would have received a low return over the past year or more. Many people (and organisations) are finding it hard to obtain higher returns whilst not subjecting themselves to illiquid investments.

How we can help As with the Pensions Service we are pleased to offer a review of your clients’ investments without charge. Only in the event that our review produces recommendations to make changes to the Investment portfolio will a quoted charge be made for implementation of the changes.

Where we recommend changes then the costs and benefits, including our costs, will be clearly identified in a comprehensive report, which takes into account the client’s objectives, full financial position and attitude to risk.

The client is then free to instruct us to make changes or not.

Benefits for your client Our comprehensive investment review service will help your client establish: ■■ If their portfolio matches their requirements in terms of: diversification, income generation, attitude and tolerance to risk and requirements for liquidity.

■■ The return they are getting on their investments and if there alternatives that might provide an alternative ■■ If they hold illiquid or unsuitable investments

Recommendations and ongoing support In our report we will summarise our findings, recommend solutions and then provide ongoing reviews and client support. The client is free to accept or reject our recommendations without obligation.

For pension, investment and savings portfolios, be they geared towards income or capital growth, we normally recommend a selection of products: ■■ Deposit-based products, including Structured Deposits where capital is guaranteed ■■ Insurance bonds where there is an option to protect the capital ■■ Model portfolios of ‘Collectives’ – Unit Trusts and Open-Ended Investment Companies ■■ Structured Products which provide clearly defined outcomes ■■ Other bespoke solutions tailored to specific requirements

The Protection Service Experience tells us that many clients underestimate the importance of protecting their family should misfortune occur. This is especially true of those most vulnerable - those with young families, the self-employed or those with their own businesses.

You like us will appreciate the value of comprehensive insurance and we would be pleased to advise your clients, recommending appropriate and value-for money protection (note for SF 20% discount) at the correct level of cover.

Where relevant we can provide your clients with: ■■ Mortgage Protection - life cover to ensure the mortgage is cleared in full so that your dependents can continue to live in the family home.

■■ Family Income Benefit - a regular income for your family after death or a serious illness.

■■ Income Protection - to pay an income in lieu of salary for the rest of your expected working life, unless you return to work before retirement.

■■ Critical Illness Cover - a lump sum upon diagnosis of a critical illness, which can then be used to pay off a mortgage, pay for expensive treatment or care, or to invest and replace lost income.

■■ Key Man Insurance - an insurance policy taken out to compensate a business for financial losses that would arise from the death or extended incapacity of an important member of that business.

■■ Maintenance Protection Cover - an income should the person paying die or develop a critical illness, ensuring that you will continue to receive your maintenance income.

The Cash Flow Planning Service Cash Flow Planning is the true essence of financial planning – providing a complete understanding of your client’s financial position and what might happen in any circumstance.

Cash Flow Planning involves a thorough review of your client’s finances, their financial and lifestyle objectives (such as retirement plans) and important contributory factors such as attitude towards investment and savings risk.

Surplus Funds...?

Only through effective Lifestyle Cash Flow planning can we attempt to provide answers to some of the financial questions clients really want answered, for instance: ■■ When can I retire and still meet my financial needs?

■■ Will I be able to leave an inheritance for my children?

Possibilities...?

■■ How much do I need to save for my Children’s education?

■■ What risks do I need to take with my savings and investments?

■■ How much protection (Insurance) do I need for my family?

Bringing together the expertise of all our specialists (Investments, Pensions, Mortgages, Protection) we can put together a complete and holistic plan for you to take away and which we can review every year or should your circumstances change.

A Perfect Solution...?

An Approaching Problem...?

Meet the team

Gerald Chase

Paul Chase

Simon Faulkner

Gerald founded the parent company, Chase Financial Services, in 1997 and specialises in pension and Investment advice.

Paul joined Chase Financial Services in 1999. He and his team, who are based within Financial Options, provide expert mortgage and protection advice so that Chase Wealth Solutions can provide a truly comprehensive financial planning service.

Simon has been providing Investment advice since June 2007 and specialises in lifestyle cash flow planning, investment planning and portfolio construction for both investment and pension plans.

Director | Chase Financial Services

Gerald is a fellow of the Chartered Institute of Bankers (FCIB). He is a member of the Personal Finance Society and holds a Level 4 Diploma in Financial Planning with the Chartered Insurance Institute (CII).

Jon Barwood

Financial Adviser Jon has worked within wealth management for over ten years and holds Level 4 Diploma Status with the Chartered Insurance Institute (CII).

He also has a first class degree in Winemaking from Brighton University which, while not particularly useful, provides some interesting talking points around the office!

Director | Chase Financial Services

Paul holds a degree from Warwick University, is a member of the Personal Finance Society and holds a Level 4 Diploma in Financial Planning with the Chartered Insurance Institute (CII).

Head of Chase Wealth Solutions

In previous careers Simon set up and ran several companies after a period working for both Shell and IBM. Simon is accredited with a BA Honours degree in Economics from Leeds University, a Diploma in Economics from the University of York and the degree of Master of Business Administration (MBA) from Cranfield University. Simon is a member of the Personal Finance Society and holds a Level 4 Diploma in Financial Planning with the Chartered Insurance Institute (CII).

Laura Critchley

Rosy

Laura has worked in the Isle of Man’s financial services sector for over 10 years. She has completed the Chartered Insurance Institute’s (CII) level 6 Advanced Diploma in Financial Planning and is a Fellow of the Personal Finance Society.

Laura has worked in the Isle of Man’s financial services sector for over 10 years. She has completed the Chartered Insurance Institute’s (CII) level 6 Advanced Diploma in Financial Planning and is a Fellow of the Personal Finance Society.

Laura also holds a BA Honours degree in International Business with Languages from Sheffield Hallam University and spent time studying and teaching in Japan.

Laura also holds a BA Honours degree in International Business with Languages from Sheffield Hallam University and spent time studying and teaching in Japan.

Chartered Financial Planner

Chartered Financial Planner

Directors | Frank Bowker | Gerald Chase | Paul Chase | Simon Faulkner | Lee Murphy Chase Wealth Solutions | Registered in the Isle of Man 024679B | VAT No: GB 003 3492 17 Chase Financial Services Limited trading as Chase Wealth Solutions and is licensed by the Isle of Man Financial Supervision Commission Chase Financial Services Limited is registered with the Isle of Man Insurance and Pensions Authority in respect of general business

Chase Wealth Solutions 10-12 Prospect Hill Douglas Isle of Man IM1 1EJ Email: advice@chase-wealth.com Tel: 01624 640350

www.chase-wealth.com

T: 01624 640350 www.chase-wealth.com