Benefits Of Receiving Financial Advice Flashcards
1
Q
Benefits of David and June receiving Fin Advice
A
- Adviser can help them prioritise their objections/ determine how best to use their funds to achieve their aims
- they can advise on how best to invest the couples funds to generate the income levels required
- they can use cash flow forecast to establish the sustainability of their desired lifestyle based on various longevity assumptions
- adviser can ensure full use of tax exemptions and allowances to minimise the amount tax paid now and in the future
- can ensure funds are invested in line with there ATR and capacity for loss and help them arrive at a compromise based on their different ATR
- they can ensure that June will have sufficient income in the event that David pre-deceases her
- they can set up a suitable plan to enable regular gifting to help fund their grandchildren’s university education
- they can advise on how the couple can mitigate the IHT liability on second death
- they can review their finances regularly and adjust the plans to take account of any changes in their circumstances/ goal and any legislation changes
