From childhood most of us are told to put away money to save for the future – perhaps for something special? Or perhaps to be sure that when we really need something we have the funds to acquire it, without taking on debt? Whether you place your money in a piggy bank, or in a multinational investment house, our aims are broadly the same; to provide for our future needs, and to protect ourselves against unexpected causes of expenditure.
When planning your finances, it is important to distinguish the difference between savings and investments. Savings are generally funds that you set aside, but can be accessed relatively quickly. These savings are often for a specific need or purchase, like a holiday or a new car. The most common way of ‘saving’ is into a bank account (‘deposit’ account) where the money can be accessed in an emergency, and for every £1 you put in, you will get £1 back and possibly some interest.
Investments are designed to be held for a longer term, usually at least 5 years. You need to be comfortable with tying up this money for a period of time, and should not consider investments unless you have some savings in place. Most investments are not guaranteed to return your money in full, although do offer the prospect of potentially higher returns than deposit accounts. Returns, risk and volatility are the factors that will determine a suitable place for your savings.
Savings and Investment products range from a simple current account, which allows a small amount of interest, but facilitates regular payments and withdrawals without detriment to your savings. At the opposite end of the scale would be company shares, where you invest money in a company, with the prospect that the company will prosper and the shares will increase in value over time. Whilst the benefits are potentially high, the risks are also much greater.
After the sudden death of my husband of 42 years, I was left to make sense of our investments and savings. Claire came to my house and helped me plan my financial future. She took care to explain my options. Her professionalism and knowledge is impressive. I can pick up the phone to her at any time.
“Could you please pass on our thanks for Paul Beckett for all the work he put into sorting out the mortgage for our Daughter and our Son-in-Law to be able purchase the house next door to us. It was a long road for him with plenty of problems to be solved! Maybe you could give him a “well done” pat on the back?!! We will certainly put his name forward to any future mortgage/loans we hear about being needed by anyone we know. Kindest regards and thanks”
I have an excellent working relationship with Richard, he has been dealing with my finance for the past few years and would recommend him to anyone who seeks financial advice.
I have referred clients to Claire Taylor for the past 10 years. Claire provides a high quality, client focussed and pro-active financial advisory service and develops excellent long term client relationships. Her level of knowledge and expertise in the financial services sector is first class and I would not hesitate in recommending clients to her and her company.
I feel extremely confident in the hands of Claire and the team. Nothing is ever too much trouble. Claire arranges regular consultations and takes time to explain anything that I may not understand, answering any questions and researching product information to provide the very best advice. All in all a great service that I would highly recommend.
Paul from Southernhay arrived at our hour of need, like anyone self-employed we are always classed as odd! Well after he parked his white charger he came in took some details and went off to see what he could do. A day or so later Paul had let us know he had spoken with our accountant and lender with an in principle decision, WOW! So with a little bit of form filling (all correct but relaxed and not pressurised which comes from Paul's experience) mortgage dealt with in weeks not months and cover in place. Job done! I would recommend Paul to anyone wanted to look at Mortgage finance, the transaction was a pleasure from start to finish!
We have known Richard for a number of years and are therefore confident that the advice he gives can be relied on to be carefully considered for our financial requirements and resources through his professional knowledge and personal interviews. He reviews our financial planning at regular intervals and is always available to discuss any matters promptly and gives straight forward explanations of our investments in a friendly and informative manner.
I have known Richard for many years now, originally through Lloyds Bank negotiations and more recently as my financial advisor. I consider it an honour to be taken on as one of his private clients and would thoroughly recommend him to anyone seeking advice about financial matters. Richard is a very astute and friendly person. His dealings on my behalf are extremely well prepared and thoroughly researched. He is most patient and tolerant when I need clarification on any point and I am always treated as if I am Richard's only client. In these uncertain times he is always someone on whom I can rely and am very grateful for all his help and advice.