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RJ WEALTH MANAGEMENT
Independent Financial Planning for Your Future
Established 1991 | Serving Clients Across the United Kingdom
*** YOU ARE VISITOR NUMBER: 00007,412 ***
Thank you for visiting our site!
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Welcome to Our Web Site!
Hello and a very warm welcome to the RJ Wealth Management web site! We are absolutely thrilled
to be on the Internet at last. This really is the future of financial information and we hope you
find our pages useful and informative.
This site is still growing (aren't they all!) but we have tried to pack in as much useful
information as we possibly can. Please do bookmark this page and come back regularly -- we are
adding new content all the time.
We have been helping individuals, families and business owners plan their financial futures since
1991. We believe that good financial planning is not just for the very wealthy -- whether you have
GBP50 a month spare or GBP50,000 to invest, we can help you make the most of it.
Why choose an independent adviser? Unlike the tied advisers
you will find in your high street bank or building society, we are able to look at products from
across the entire market to find the very best deal for you. We are not obliged to
push one company's products -- our only loyalty is to our clients.
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About RJ Wealth Management
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Our Philosophy
We believe in plain English. Financial planning can seem horribly complicated,
with jargon flying about everywhere. Our job is to sit down with you, understand
your situation and your goals, and then explain your options in straightforward
language that actually makes sense.
We have seen too many people sold complicated products they did not understand
and did not need. That is not the RJ way.
Every client receives a written report setting out our recommendations and
the reasons behind them. You are always in control.
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Our Services at a Glance
| Service |
From |
| Initial consultation |
FREE |
| PEP review & advice |
No fee* |
| TESSA advice |
No fee* |
| Pension planning |
No fee* |
| Full financial review |
GBP150 |
| Mortgage advice |
No fee* |
* We receive commission from product providers. Details available on request.
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Personal Equity Plans (PEPs)
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PEPs remain one of the very best ways to shelter your investments from the taxman. Any growth
and any income within a PEP is completely free of UK income tax and capital gains tax -- and
you do not even have to declare it on your tax return. What could be simpler?
The 1997/98 PEP Allowances
| Type |
Annual Allowance |
| General PEP |
GBP6,000 |
| Single Company PEP |
GBP3,000 |
| Total per person |
GBP9,000 |
| Per couple |
GBP18,000 |
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Popular PEP Funds We Recommend
We have access to PEPs from all major fund managers. Some of the most popular
with our clients this year have been:
UK Growth:
- Fidelity Special Situations
- M&G Recovery Fund
- Perpetual High Income
International:
- Henderson European
- Gartmore American Growth
Income-focused:
- Invesco Income
- Jupiter Income
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Did you know? If you and your partner have been investing the maximum PEP allowance
every year since PEPs were introduced in 1987, you could between you have sheltered
over GBP100,000 from the taxman -- and that pot is growing entirely tax-free!
It is never too late to start.
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What about the Government's new "ISA" proposal? You may have read speculation in
the press about Chancellor Gordon Brown replacing PEPs with a new "Individual Savings Account"
from 1999. We are keeping a very close eye on developments. Whatever happens, existing PEPs
will be protected -- but it is important to use your current allowances while you can!
We will update this page as soon as we have firm information.
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TESSAs -- Tax-Exempt Special Savings Accounts
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A TESSA is a deposit-based savings account where all the interest is completely free of tax,
provided you leave your capital in the account for five years. They are offered by banks and
building societies, and they are one of the safest tax-efficient savings vehicles available.
TESSA Facts
| TESSA Allowances |
| Year 1 maximum deposit |
GBP3,000 |
| Years 2-4 maximum per year |
GBP1,800 |
| Year 5 maximum deposit |
GBP600 |
| Total maximum over 5 years |
GBP9,000 |
TESSA Top-Ups: If your first TESSA has recently matured, you can roll the
capital (not the interest) into a new "Follow-On TESSA" at any bank or building
society. We can help you find the very best rate available -- rates vary enormously
between providers, so it pays to shop around!
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Current TESSA Rates
(correct as of November 1997 -- verify with provider)
| Provider |
Rate (gross) |
| National Savings Bank |
7.10% |
| Halifax |
6.85% |
| Nationwide |
6.75% |
| Abbey National |
6.60% |
| Barclays |
6.15% |
Rates change frequently. Ask us to run a full market comparison for you at no charge.
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Pension Planning
"The best time to start saving for retirement was 20 years ago. The second best time is today."
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Pension planning is probably the single most important financial decision most people will ever
make -- and yet it is also the one that is most often put off. We understand. Retirement seems a
long way away. But the mathematics of compound growth mean that every year you delay costs you
dearly in the long run.
Types of Pension We Advise On
Personal Pensions
Ideal if you are self-employed or your employer does not offer a company scheme.
You get full tax relief on contributions at your highest marginal rate -- a GBP1,000
contribution costs a basic rate taxpayer only GBP760.
Executive Pension Plans (EPPs)
For directors and senior employees. Can allow very substantial contributions,
particularly for those who started pension saving late. We have considerable
expertise in this area.
Section 32 Buy-Out Policies
If you have left a company pension scheme, a Section 32 policy can preserve
your guaranteed minimum pension while potentially offering better overall
investment performance.
Additional Voluntary Contributions (AVCs)
Already in a company scheme? AVCs can top up your eventual pension, and you
get full tax relief on every pound you pay in.
Free-Standing AVCs (FSAVCs)
Similar to AVCs but you choose the provider independently of your employer,
giving you much greater investment choice and flexibility.
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The Power of Starting Early
(Illustrative figures only -- for guidance purposes)
| Start Age |
Monthly cost |
Pot at 65* |
| 25 |
GBP100 |
GBP198,000 |
| 35 |
GBP100 |
GBP98,000 |
| 45 |
GBP100 |
GBP42,000 |
| 55 |
GBP100 |
GBP14,000 |
* Projected at 9% pa growth. Values are not guaranteed and are for illustration only.
Inflation will reduce the purchasing power of any sum. Past performance of investments
is not a guide to the future.
The state pension in 1997 is just GBP62.45 per week.
That is GBP3,247 per year. Is that really enough to live on?
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FREE Pension Health Check! Not sure if your existing pension is performing?
Bring your policy documents along to a no-obligation meeting and we will review
the fund performance, charges, and projected benefits -- completely free of charge.
Many of our clients have been pleasantly surprised -- and some have been very glad
they came to see us!
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Budget Special: July 1997
What Gordon Brown's first Budget means for your savings and investments
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Gordon Brown's first Budget as Chancellor of the Exchequer on 2nd July 1997 contained some
significant changes that will affect investors and savers. Here is our plain-English summary
of the key points:
Advance Corporation Tax Abolished
This is the BIG one for pension funds and PEP investors. From April 1999,
pension funds and PEPs will no longer be able to reclaim the dividend tax
credits on UK shares. This reduces the effective yield on equity investments
held in these wrappers.
Our view: This is unwelcome news, but it does
not change the fundamental case for PEPs and pensions. The tax advantages
remain very significant. However, it may be worth reconsidering whether
income-focused equity funds still make sense inside a PEP for some clients.
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Windfall Tax on Utilities
A one-off windfall tax on privatised utilities raised GBP5.2 billion.
If you hold privatised utilities shares (British Gas, BT, water companies
etc.) you will have seen some movement in share prices around the Budget.
Our view: This should not significantly affect
the long-term investment case for well-run utility businesses. However, if
your portfolio is heavily concentrated in this sector, we would be happy
to review your diversification.
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New ISA Confirmed for 1999
The Chancellor confirmed that a new Individual Savings Account (ISA) will replace PEPs and
TESSAs from April 1999. Annual subscription limits are expected to be GBP5,000 (with GBP1,000
in cash) rising to GBP7,000 for the first year.
Our view: Full details are still to be confirmed, but this
does not diminish the urgent need to maximise your PEP and TESSA allowances between now and
April 1999. Existing PEPs will be "grandfathered" -- you will keep the tax shelter on money
already invested.
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Mortgage Interest Relief (MIRAS)
MIRAS (Mortgage Interest Relief at Source) is being reduced from 15% to 10%
from April 1998. This will slightly increase the net cost of a standard
repayment or interest-only mortgage.
Our view: If you are considering
remortgaging or taking out a new mortgage, this makes it slightly more
important to secure a competitive interest rate. We offer whole-of-market
mortgage advice -- do come and see us.
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** FREE REPORT AVAILABLE **
"The Intelligent Investor's Guide to PEPs and Unit Trusts"
Our 12-page illustrated report covers: how PEPs work, choosing the right fund,
understanding charges, when to switch funds, and much more. Written in plain
English, not financial jargon.
To receive your free copy, please use the form at our visitor page
or simply pop into one of our offices.
This report is for information only and does not constitute personal financial advice.
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** UNDER CONSTRUCTION **
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These pages are coming soon -- please check back regularly!
| Coming Soon |
Expected |
| Online pension calculator |
January 1998 |
| Unit trust price checker |
February 1998 |
| Mortgage repayment calculator |
February 1998 |
| Client secure document area |
Spring 1998 |
| Online newsletter archive |
Spring 1998 |
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Useful Links
Sites we have found useful -- we cannot vouch for their content!
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Financial Information
This Is Money
Personal finance news and tables from the Daily Mail group. Very useful for
comparing savings rates.
MoneyWorld
Excellent independent financial information site. Unit trust prices, mortgage
comparisons, the lot.
Bloomberg UK
Live stock market prices and financial news. Warning: can become addictive.
Hemscott
Company information and share prices for UK-listed companies. Ideal for
researching individual shares before investing.
Interactive Investor International
Discussion boards and price information. Worth a look.
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Government & Official
Open Government
Official UK government information portal. A bit slow but improving.
HM Customs & Excise
Tax information. Not exactly exciting reading but sometimes necessary.
Inland Revenue
Self-assessment forms and guidance. They have actually made rather a decent
go of this web thing.
General Interest
Financial Times
Not cheap to subscribe online but the free sections are very good.
Yahoo! UK
The best search engine for finding financial information on the web.
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Our Visitor Page & Guestbook
We would love to hear from you! Please sign our guestbook and let us know what you
thought of this site, whether our information was useful, and what topics you would
like to see covered in the future.
We read every entry and use your suggestions to improve these pages.
--> Click here to sign our guestbook <--
We have had 47 guestbook entries since we launched in September 1997.
Thank you to everyone who has written in!
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What Our Clients Say
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"I had been putting off sorting out my pension for years. After one meeting I understood
exactly what I needed to do and why. Could not recommend more highly."
-- Client from Cheshire, October 1997
"Found our first meeting very helpful. Came in expecting jargon and left with a clear
action plan. Already acting on the PEP advice -- wish we had done this years ago."
-- Client from Yorkshire, August 1997
"We had quite a complicated situation -- two pensions each, some shares from privatisations,
and a maturing endowment. They sorted it all out brilliantly and found us a much better
TESSA than we had with our bank. Very pleased."
-- Client from Hampshire, September 1997
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RJ Wealth Management
Independent Financial Planning
Last updated: 14th November 1997 | Maintained by Chris
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Investments can go down as well as up. Your home may be repossessed if you do not keep
up repayments on a mortgage or loan secured on it. The value of tax reliefs depends on
individual circumstances and tax law may change. This site is for information only
and does not constitute personal financial advice.
This is a PARODY page generated by ukco.uk. Not affiliated with or endorsed by the real brand. No copyright is claimed.
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