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What have you done with your pension money?

Aegon regulatory strategy director Steven Cameron says providers need to do a better job of explaining what can be done within pension products or with pension funds.

“People think if it’s in their bank account they have ready access to it when they need it, where as they probably don’t think that’s the case within their pension.

“Investing in a bank account is hardly an investment strategy apart from that your money can’t go down in value in nominal terms.”

If you have very small pensions and require a cash amount then cashing in your pot, taking the money and putting the rest in a bank account isn’t too much of a problem. But for bigger pots above £30,000 the tax consequence, impact of inflation on cash, and the lowering of bank deposit guarantees need to be made absolutely crystal clear.

That´s where Blacktower can help you –  we work hard with all our clients to find the best and most tax efficient investment plan to suit your individual needs. We are completely independent so can offer you products from various providers from across the financial market place.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Defined Benefit Plan Deficit Raises Questions

Piggy bankA pension transfer is not for everyone and there will be many factors to weigh up before making the decision to transfer from an existing scheme into a QROPS, SIPPs or other structure.

However, a great deal of doubt remains about the long-term viability of the nation’s defined benefit plans, with the high-profile collapse of a number of such schemes leading many to question their reliability and suitability.

And these doubts have only been increased by the recent revelation from Mercer that during 2017/18 the accounting deficit for the defined benefit plans of the UK’s top 350 FTSE organisations increased by 28% to £41 billion, mainly because of a £19 billion drop in asset values (from £766 billion to £747 billion).

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Blacktower’s Nexus Funds Show Rapid Acceleration

London – October 2019: Leading wealth management provider, Blacktower Financial Management Group announces milestone growth of over 12% and 18% YTD, of its Nexus Solutions and Dynamic Funds, respectively.

With Nexus Solutions Portfolio currently standing at an outstanding valuation of £105m and Nexus Dynamic Portfolio at a similarly impressive £29.56m, both funds were launched by Blacktower as means to provide its clients with access to award-winning investment DFM solutions.

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