Retirement Planning

People are living longer in the UK than ever before and this means that planning for retirement has taken on increased importance. The advantages of beginning the process early are perhaps more apparent today than at any other time in history.

With more than 30 years of wealth management expertise behind us, Blacktower UK manages the pre- and post- retirement planning for a select group of clients, many of whom we have served for well over a decade. For each of these clients, our goal is to ensure that their finances are optimised towards helping them reach their retirement objectives.

This means that we provide ongoing advice to our clients on all aspects of their wealth management including inheritance tax planning, the management of pensions, insurance policies and other suitable protection and investment products. What a person needs will vary depending on their circumstances. Below we take a look at some of the retirement planning products that may work for certain types of investor.

SIPPs – Self Invested Pension Plans

A Self Invested Personal Pension (SIPP) is a personal pension plan offering the investor an advantageous level of choice, consolidation and flexibility. SIPPs are an increasingly attractive option for both retirement investors in the UK and those who live as expats in the EU or elsewhere abroad.

A SIPP can be invested in numerous ways, including the following:

• Stock exchange listed investment trusts
• Commercial property
• Gilts and bonds
• Stocks and shares
• UK government bonds
• Foreign government bonds
• Financial Conduct Authority-recognised Open Ended Investment Companies (OEICs)
• Bank deposit accounts
• Exchange traded funds

SIPP holders can access their fund once they reach 55, with up to 25% of the fund withdrawable as a tax-free lump. Furthermore, a SIPP may increase your inheritance planning options, allowing your beneficiaries the possibility of greater financial freedom in the future.

However, as they are self-invested, SIPPs also means investors get a less desirable type of freedom: the freedom to make mistakes. As with all investments, it is important to take advice about how to invest and manage your SIPP. Lay investors can and do frequently make mistakes; in order for a SIPP to be successful, it requires an informed and disciplined approach to investment.

Insurance

Planning for retirement inevitably involves preparing for the unforeseen as well as building towards your long-term goals. Individual investors may benefit from one or more of a range of possible policies, including the following:

• Income Protection & Accident, Sickness & Redundancy cover
• Whole of Life cover
• Private Medical Insurance cover
• Long Term Care cover

Similarly, business owners with extensive business employees and commercial interests, can help you safeguard these with certain policies, including those that might be beneficial in terms of inheritance planning.

Discretionary Fund Management

Many investors choose to enhance their wealth management and retirement planning through a Discretionary Fund Management investment portfolio. Different investors approach this differently depending on their attitude to risk and capacity for loss. For example, a portfolio may be balanced, growth-focused or aggressive.

Blacktower UK: Proactive Wealth Management Service for Select Clients

At Blacktower UK, we help our clients negotiate the complex world of investment and financial planning services by providing ongoing service, regular reviews and the convenience and reassurance of a regular and consistent point-of-contact.

Existing domestic wealth management clients can pick up the phone and call us anytime. Investors with significant assets who are looking for holistic management of pre- and post- retirement planning needs, alongside a general wealth management strategy, should contact us for a consultation.

Potential international clients are welcomed and may contact Blacktower’s international arm at any time.