Supporting your clients
with independent financial advice
Solicitors need to be sure that any external specialist services they source reflect their own standards of professionalism and commitment to their clients. As Chartered Financial Planners, Kirk Newsholme Financial Planning’s advisers already hold the professional qualifications which some advisers are still working towards.
STEP membership In addition to his CII Charter, Peter Blinkhorn is an Affiliate Member of the Society of Trust and Estate Practitioners and holds the Certificate for Financial Services, demonstrating his thorough grounding in the overlapping field of estate planning – an area which so often requires both financial and legal expertise to offer clients the most effective advice.
You can rest assured that this expertise, combined with our independent status, will ensure your clients receive an excellent service to complement your own work on their behalf.
Kirk Newsholme Financial Planning can help clients in need of financial advice relating to all the following circumstances:
Estate planning
We advise our clients to seek legal advice on reviewing their Wills, creating LPAs and Trusts. In helping them to make decisions, we carefully consider tax-efficient investments such as Aim Listed plans and insurance-based tax mitigation schemes.
Bereavement
Clients who have recently been bereaved frequently seek the simplest possible financial solutions, as well as those which provide the most security. This may involve living accommodation, addressing potential long term care needs or making provision for dependents. Legal and financial needs are closely related in this situation.
Trustees
The Trustee Act 2000 introduced important new duties for Trustees. To reduce risk, they need to ensure that the trust investments are properly diversified and are suitable to the objectives of the Trust. We can advise on this.
Releasing Equity
Homeowners can often release cash by trading down to a smaller property or using an Equity Release scheme. The money released might be used to provide additional income, establish a trust fund, or finance some major item of expenditure. We can advise clients in these areas.*
Broken relationships
Even if a collaborative approach is adopted, a divorce or separation is likely to require a complete review of both parties’ finances. Legal and financial aspects will need to be co-ordinated. Jointly held assets may need to be sold, life policies may need to be sold or transferred; maintenance payments may need to be protected by insurance; provision may need to be made for children and their education; and the complications surrounding pension rights must be addressed. Kirk Newsholme Financial Planning can advise on the implications of all these eventualities.
Personal Injury Litigation
Special considerations apply to the investment of sums awarded by the courts to those who have suffered personal injuries, and a Personal Injury Trust may be advisable to protect means-assessed benefits. Any investment emphasis is likely to be on maintaining the required level of income over what could be a lengthy period of time – and any proposed solution would need to be acceptable to the court. We can help clients to address all these considerations.
Investors
Clients may have inherited significant sums of money on the death of relatives, the sale of a business or as a result of divorce or litigation. In all cases it is vital to appoint an independent, fees-based adviser who can provide a structured plan to reconcile risk and return to the satisfaction of the individual client. The plan then needs to be monitored and reviewed on a regular basis.
Redundancy
The first things to consider in the event of redundancy are the tax treatment of the termination package and the possible availability of state benefits. Consideration should also be given to replacement life insurance and any possible claims on existing policies. Pension benefits should be reviewed and decisions made regarding drawing benefits or making transfer arrangements. We can advise on all of this.
Expatriates
Clients consulting their solicitors on property and tax matters prior to moving abroad will want to ensure their new investments and pensions match their new circumstances – there may be advantages in holding offshore investments. UK pensions may be transferred to a Qualifying Recognised Overseas Pension Scheme.
*To understand the features and risks of an Equity Release Scheme, ask for a personalised illustration. There may be a fee for equity release advice. The precise amount will depend upon your circumstances but we estimate it will be £950.
To find out more about our services to solicitors and their clients, contact us online or call 03332 401 333.