Tips for prosperity in 2013
Checking a client’s tax code, setting up protection policies and finding ways to improve their levels of saving will be vital during this year, David Howell has said.
The Chief Executive of Guardian Wealth Management,stated “We are still very much weathering an economic storm and naturally there’s a desire to do as much as possible to safeguard our finances in times of uncertainty.”
David commented that checking and challenging the tax code is crucial as many people tend to hand over more of their cash than is required.
Investing surplus cash into tax-efficient investments is also a handy way to help protect clients against a heavy tax burden, while ISAs, enterprise investment schemes or venture capital trusts can offer a better environment for taxpayers. People need to keep an eye on their debt levels, and it was important for advisers to keep an eye on the mortgage market.
David went on to say, “People should consider switching deals if they spot a more attractive interest rate repayment.Having health and life insurance in place can prove invaluable, while planning for private medical insurance and life insurance should not be underestimated.”
Added to this is the importance of making a will, something often overlooked.
When it comes to pensions, Mr Howell said he advocated self-invested personal pensions, because they offer the sort of investment flexibility and control that many clients want when it comes to their money.