Archive for the: Financial category
Posted by Ian O'Dowd on June 12th 2017 in Financial
Retirement planning and pensions have become a hot topic over the last couple of years. People are starting to think more about what their retirement will look like. Will it be champagne and holidays in the sun, or a cup of tea in the back garden? If its champagne and holidays you want, then careful planning can help achieve this. So here are a few considerations to get you started.How much income will I need in retirement?
This is a question only you can answer, as only you know what you want your golden years to look like. If the cup...
Posted by Ian O'Dowd on November 1st 2016 in Financial
Ian O'Dowd, Independent Financial Adviser talks us through the options available and differences between Term and Whole Life Insurance.
Personal protection can be a complicated subject. When considering this you may ask yourself questions like “How much cover do I need?” or “How long do I need the cover for?” or even “What type of policy do I need?”
To help along the way here is a quick guide to the main types of policies available to you. However, as always we recommend you seek advice from a professional to give you guidance as to what cover is most suitable for...
Posted by Cheryl Phillips on July 16th 2015 in Financial, General News
Malcolm Swift started at the then named Michael Pavey Insurance Brokers in 1991, becoming managing director of financial services at the company – now Pavey Group – in 1998.
The father of two, and grandfather of three, started his career 45 years ago. He steps down as managing director, with financial services director Michele Parker taking the role, but stays at the company, which has its head office at Edginswell Park in Torquay, switching to working two days a week.
"Firstly I want to praise my successor Michele Parker. Anyone who knows Michele will be aware of her experience and technical expertise...
Posted by Cheryl Phillips on May 20th 2015 in Financial, Insurance
Setting up your own Workplace Pension Scheme can be daunting. Here at Pavey Group, help is at hand. Our Independent Financial Advisers provide assistance throughout the entire process of setting up Workplace Pension schemes providing support, advice and solutions. In response to the volume of enquiries on Auto Enrolment from our existing clients, Malcolm Swift, Director of Financial Services discusses the importance of companies who have yet to stage on “Being Prepared” for Auto Enrolment.
What have we learned so far?
Malcolm replied, “I am sure many of us remember the Boy Scout motto “Be Prepared”; defined as being always ready to do what is necessary to help others,...
Posted by Cheryl Phillips on March 26th 2015 in Financial, General News, Insurance
A Devon-based insurance and financial services company has bought an established local insurance broker to expand its operations in Exeter.
Pavey Group, which has offices in Torquay and Exeter and employs 90 people, has bought Buddens Westinsure, founded in 1985, as part of the group’s on-going growth strategy. The deal was completed in March.
Already recognised as a Top 100 Independent Broker nationally, the expansion means Pavey Group will be able to offer enhanced benefits, including a fully managed claims service and independent financial advice to all former Buddens Westinsure clients.
It also means extending the range of expertise at Pavey Group, with...
Posted by Sam Eynon on March 20th 2015 in Financial
Following this weeks Budget Announcement by George Osborn, our Independent Financial Adviser Carly Tombs has commented on the announced ISA changes which will come into effect in Autumn 2015.
If you’re a first time buyer, you can save up to £200 a month towards your first home with a Help to Buy ISA and the government will boost the ISA by providing a £50 bonus for every £200 you save. You can receive a bonus of up to £3,000.How the Help to Buy ISA Works
- New Accounts will be available for 4 years, but once you have opened an account there is no limit on how...
Posted by Cheryl Phillips on November 20th 2014 in Financial, General News, Insurance
'Crash for cash' are road traffic accidents deliberately caused in order to claim whiplash compensation. Organised gangs are at the heart of the increase in the number of these induced accidents. Although this is not a common occurrence in the South-West we should be mindful of these activities as they could become more prevalent to us locally.How to minimise the risk of being targeted by the cash for crash fraudsters:
- Stay alert: Pay attention to your driving and the cars/traffic around you.
- Keep your distance: Keep a safe distance between your vehicle and the one in front.
- Roundabouts and slip roads: fraudsters target roundabouts and slip roads...
Posted by Cheryl Phillips on October 27th 2014 in Financial, General News, Insurance
- It allows you to release a tax free lump sum from your property to spend as you wish. You can boost your retirement in-come, allowing you to enjoy your retirement, whether that be on holidays, home improvements, a new car or helping out loved ones.
- You can opt to have the interest added onto the loan each month, without you having to pay a monthly payment back to the provider.
- It allows you to live in your property for as long as you wish.
- It can potentially allow you to draw further funds down at a later date, without further approval.
- The Rate of...
Posted by Cheryl Phillips on October 1st 2014 in Financial, General News, Insurance
The government have recently announced they will be introducing strict regulations of the, as of yet, unregulated letting market which will make it compulsory for letting agents to sign up to an independent redress scheme.
From the 1st October 2014, letting agents will face very heavy fines of up to £5,000 if they cannot prove they are signed up to one of the three independent redress schemes with either the Property Ombudsman, the Ombudsman Service: Property or the Property Redress Scheme. It will also require for a letting agent to take out professional indemnity cover and to continue with this cover...
Posted by Cheryl Phillips on June 30th 2014 in Financial, General News
Following the 2014 budget announcements, an increased level of interest is emerging from clients as to the options now available relating to pensions and retirement planning. The changes are primarily around flexibility and allowing individuals to have control over their pension income in retirement. The government proposes that there will be no requirement to purchase an annuity and no restrictions on the amount of income that can be drawn from the accumulated fund. But will this help you?Planning for Retirement
When planning for retirement, it's important that you take into consideration all of your assets. For some of us, after working...