Financial health check

When there are changes in taxation and the treatment of different financial products, it is always advisable to review your current circumstances. For our existing clients, this is part of our financial planning process. We know change can cause anxiety so do speak to us about how the changes may affect you. You may also be speaking to family and friends who may be equally concerned by recent announcements and we would be pleased to help. To make the process of speaking to Old Mill easier, we offer a ‘Wealth Management Health Check’.

Our health check reviews financial and non-financial goals so that we can discuss possible solutions.

Our cash flow modelling tool can provide an in-depth analysis of current income, expenditure, assets and liabilities and an assessment of whether future plans are achievable and as equally important, can be improved upon particularly taking account of recent Budget announcements.

Some of the areas we might explore as part of the health check includes:

• Their baseline for retirement living.
• What people enjoy doing and want to do more of.
• When they can retire (if they haven’t already).
• Whether current savings and investments are suitable and in line with the risk they need to take to achieve their goals.
• Will existing pension plans enable them to enjoy the lifestyle they desire?
• Are they protected against unexpected financial challenges? (e.g. critical illness)
• How to effectively pass on wealth to the next generation.
• Are they paying too much tax? If so, how can we reduce this?
• Are they making the most of their tax allowances?

This service is typically of benefit to those with investable assets (investments and/or pensions) in excess of £250,000.

If you think this would be of benefit to family and friends, please speak to your financial planner and find out how we can help.