FINANCE

ACRONYMS & JARGON

It’s enough to drive you totally batty but the financial services industry is riddled with hundreds of acronyms for their products, services and trade bodies. You could virtually have a conversation in total jargon and people would be right in thinking you’ve lost the plot. For example, I’m an IFA with a qualification from the CII, each year I need my SPS certificate following lots of CPD’s or I can’t act for you. We’re overseen by the FCA and BoE and HMRC, we also deal with FSCS, pay our ICO fees for GDPR, comply with FSMR and MIFID 1&2 PROD & PRIP. Yes exactly who or what is this I hear you ask? Just to be sure for all of this we have comprehensive PII cover. My best clients are HNW and some even SHNW they invariably need advice on IHT & CGT then sometimes SPV’s, along with VCT’s & EIS’s. We review their CIA’s & GIA’s CIB’S & CRA regularly. The HNW clients have taken our FUM over 50M so this year our EBITDA looks good and that’s not a film. We have a client seeking an IPO soon he’s involved in a JV and several who need TVAS reports or AVR. A client rang last week to say he thought he had a FSAVC but it turned out to be a FURB and as he’s going to live in France wanted to know if he could transfer it into a QROP’s. You’ll definitely know about PPI as many of you were compensated for bad advice but did you claim on your LCE or your IO mortgage? I bet you’re glad you’ve got an IFA to deal with all of this for you? Thank god it’s POETS day, TTFN. Philip Vaughan is a Director at Abacus Assurance Financial Services Ltd, Porthcawl 01656 772222

PHILIP VAUGHAN Director at Abacus Assurance Financial Services Ltd Porthcawl 01656 772222

Deadline date for the April issue is: Monday 15th March

DEADLINE TO BREADLINE – THIS COULD BE YOU

Meet Gary. He’s a good hardworking family man and he’s been fortunate that his employer has managed to keep him employed during challenging times in the last year. With his wife working only part-time and home schooling the children at present, it’s been a hard year for them just like with millions of other families. Last weekend however really scuppered their plans, both for Gary’s work and many others, as he suffered an unfortunate accident, completely out of the blue and which will keep him sidelined for possibly several months to come, unable to work. Now, whilst the accident will probably not have long term implications, the issue Gary has is that his employment cannot afford to pay him full pay for longer than 4-6 weeks at best, following which he will have to move onto statutory sick pay of just £95-85 – hardly enough to keep one person never mind a family, mortgage and everything else that needs to be paid for. The biggest problem that affects millions of families is that they often have little in savings and the latest ‘Deadline to Breadline’ report by insurer Legal and General says that it takes just 24 days for the average family to find themselves on the breadline and massively troubled by lack of income, rising and unpaid debts, mortgage or rent arrears, etc., etc. NOT a nice situation to be in. We can help by looking at appropriate and affordable protection that would cover you with an income if you were to lose yours unexpectedly. It may be the best thing you could do to protect everything that’s important to you until times get back to normal. Call us for a chat about how you could get covered before the event happens – it’s more affordable than you think. With regard to the mortgage itself, are you a MORTGAGE PRISONER? Are you stuck with a lender or interest rate that is making life difficult for you, possibly because you have had payment or credit difficulties? Again, we are specialists in helping people just like you get things back on track – if we can’t do it, it probably can’t be done. Call us anytime on 01656 782545 / 07768 418308 even at weekends and we’ll take a look at your options, free of charge – it could be the call you’ve been meaning to make and could be the best you have made for some time. We look forward to helping you.

PAUL FIELDING Dragon Financial 01656 782545 / 07768 418308

Independent Mortgage and Protection Advisers

We are the Specialists to call...

Need a new mortgage from a whole of market Adviser? Over the Age of 55 and need Later Life Lending or Equity Release? • Refused a mortgage due to Previous Credit Problems? • Trying to get on the ladder as First Time Buyers? • Life Assurance and Family Protection need reviewing? • Income protection a problem – not available from work?

Funeral planning? - pre-paid plans to suit everyone We also work with trusted, qualified financial partners in other areas of financial needs

CALL US ON: 01656 782545 MOB: 07768 418308 / 07960 613111

EMAIL: camfin@btopenworld.com

APPOINTMENTS AT A TIME TO SUIT YOU, EVEN AT WEEKENDS – HOME VISITS

Paul Fielding trading as Dragon Financial is an Appointed Representative of the On-Line

Partnership Limited, which is Authorised and Regulated by the Financial Conduct Authority Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured against it.