what does an independent financial adviser (ifa) do?
DESCRIPTION
What is an independent Financial Adviser, what do we do and how we can help you make the best out of your financial situation.TRANSCRIPT
![Page 1: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/1.jpg)
What does an IFA do?
![Page 2: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/2.jpg)
Who are we?• Bankfield was started in 1993 by Naren Naik • Holistic financial planning services • Long term, trusting relationships • One-stop financial centre for your needs • Specialist advisers suitably qualified to cover
all areas of financial planning • Excellent relationships in to banking, legal,
accounting, marketing and technology sectors.
![Page 3: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/3.jpg)
• Identify and prioritise your goals• Agree a budget for any identified needs • Minimise costs and maximise benefits
at all times. • Act in your best interests and to
provide “whole of market” advice
Full Financial Review
![Page 4: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/4.jpg)
• stands for Protection• stands for Retirement • stands for Investment • stands for Savings • stands for Medical and
Mortgages
Setting Priorities
![Page 5: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/5.jpg)
• Making provision to fund needs in the event of your death, sickness or disablement
• People should consider the impact on their dependants of their death or permanent sickness
• Any potential shortfall in income should also be examined
• Consider life cover to clear capital debts and any other debt
• Biggest single asset is their likely income stream up until their retirement
• Inheritance planning; whole of life or ‘gift inter vivos’
Protection
![Page 6: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/6.jpg)
• Tax efficient ways to save for retirement• Designing ‘passive income’• Making the best of employer schemes
or old ‘frozen’ pensions• Auto-enrolment• Self Invested Personal Pension
Schemes, SIPPS
Retirement
![Page 7: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/7.jpg)
• Investments cover a very wide area of advice, from Cash ISAs to direct investment in small non-listed companies
• Vital that everyone reviews their investments on a regular basis
• Markets rise and fall and legislation changes.
Investments
![Page 8: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/8.jpg)
• “Rainy day” money should be kept accessible
• Banks and other saving institutions regularly change their savings terms
• Cash ISA rather than an ordinary savings account will save tax and improve your position
Savings
![Page 9: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/9.jpg)
• Private medical insurance• Personal or group basis• Access to employer schemes• Local medical schemes• Benendon Trust
• Mortgages
Medical and Mortgages
![Page 10: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/10.jpg)
• What’s best to do before, during and after the event.
• “If I were you, I would…….because……”
• Accept the advice that I am giving or dismiss it; the choice is yours!
Providing Advice
![Page 11: What does an Independent Financial Adviser (IFA) do?](https://reader033.vdocuments.mx/reader033/viewer/2022052315/549c9714ac7959c92a8b47a0/html5/thumbnails/11.jpg)
Thank you for your time
‘because we know what’s important’