Savings and Investments

Let’s get your money working harder

A good investment strategy should cover three key areas; your current and future needs, your attitude towards risk and your reason for investing in the first place.

Your money also needs to be invested in a balanced and diverse way to make sure your future remains bright even if parts of the economy change for the worse. This may mean investing globally in different markets and in different types of investment products too.

If your money is going to work really hard for you it must also be regularly monitored and look at taxing and charging levels. This should ensure that your investments stay firmly on track even if you and your family’s circumstances unexpectedly change.

Knowing how best to invest isn’t difficult to achieve if you have the right level of advice and assistance. Our Chartered status and our many years’ experience of investments combined with our ‘Regular Rebalance’ service means we take care of all your concerns ensuring a well managed, cost effective and hard working portfolio for you.

saving & investments choices

Improving your pension

Our pensions are a Zombie free zone...

Around 30% of UK Pensions are held within what are known as ‘Zombie Pension Schemes’. As the name suggests, they’re not exactly great performers, so if you’re not sure exactly where your money is and how it’s doing, we can help. 

Zombie Pensions are older schemes often held with household name providers and can have unnecessarily expensive costs and very poor growth. Saving only a few percent in charges or by improving growth can make a significant difference, without you having to pay any more money into your pension. By simply decreasing your charges and increasing your growth you could double or even treble your pension pot by the time you retire.

If you do only one thing towards improving your pension, it really
ought to be a pension review.

In fact we feel so passionately about how important it is, at Open Door
we offer our review service completely free. Better still there’s no
obligation to act on our recommendation and it’s very simple to
arrange, one simple form which takes only a few minutes to complete.

Accessing an existing pension

Lost and found...

Do you think you may have had a pension which somewhere along the way you’ve lost track of? We work with many clients who either moved jobs and forgot to update their details or who ‘Contracted out of SERPs’ many years ago and didn’t really understand what that meant.

Contracting out is when you elected for your National Insurance contributions to be paid into a Private Pension scheme rather than into your Government pension. If regularly monitored they can be excellent, but leave them unchecked and they can become expensive and poorly run.

Furthermore, if lost you might not ever be reunited with your hard earned money, but don’t worry – we won’t let that happen.

It is estimated that 5 million people in the UK have a lost pension scheme with a total value of over £3 billion and tracing those pensions is one of the things we excel at. It’s a service we offer completely free of charge and we will only require limited information and a small amount of your time.

With just a little bit of input from you, we can get your lost pension back working well for you very easily. It’s one of the things we like doing best, finding extra unexpected money for people – how good is that?

Protection

You don’t have to join the Scouts to be prepared

Sometimes things just don’t go to plan. Some may stick their heads in the sand, while others sign up for a protection policy without ever really reading the small print and then just file it away at the bottom of a drawer.

But if something does go wrong, like losing your job or being taken ill, don’t you want to be sure that the financial side of things are taken care of by making the right preparations? There’s not much point in paying that monthly premium after all, if when you need it, there’s a get out clause or it just doesn’t provide for you as you need it to.

There’s a whole raft of different protection polices available for you from General and Life Insurance right down to Inheritance Tax Protection, Income Protection and Key Person Cover. Some of them are complex and some of them just won’t meet your needs.

But with a bit of considered advice and planning before you choose a policy, if things do go wrong, you can rest easy that what might have been a mountain to climb is more of a bump in the road.

protection basics

Inheritance tax

Leaving it right

Most of us want to make the best provision we can for our loved
ones. This includes not having to pay any more tax than we
have to.

But the reality is that you don’t have to be perceived as wealthy any more
for assets to become liable for Inheritance Tax after death and this
may include your pension. In fact, the chances are, if you own your
own property, you may already be liable for as much as a whopping 40%.

It’s not necessarily rocket science but minimising your Inheritance Tax
liability does take a thorough understanding of the legislation and very careful consideration of your position. It’s important to get things right for after you’ve gone and it requires careful planning.

Finding the balance between ensuring you have enough to meet your
needs during your lifetime and providing for your loved ones when you’re not there is not easy. We can help by making sure that your money ends up where you want it to and not being paid in unnecessary taxes instead.