How we help you
As Professional Independent Financial Advisors, we specialise in giving advice to clients on a spectrum of financial matters.
Whether you’re a business or an individual your financial circumstances will be unique and in order for our clients to obtain maximum benefit, our advice must be based on a detailed review of your circumstances. This is achieved via a comprehensive Fact Find. Potential clients will be expected to go through the fact-finding process prior to any specific advice or recommendation being provided.
In this way we are able to develop a strong partnership that is continually producing Imaginative new ideas to meet any of your immediate or future goals.
At Broom Consultants Ltd we offer advice on financial issues including:
Pension
At Broom consultants we have taken the decision to employ specialist pensions administrators and advisors so as to maximise the quality of advice we provide our clients. To this end we believe in Mark Johnson and his team we have created a pension department that is the envy of the vast majority of our peers. The aim of this department is to provide a bespoke pensions service to our own clients and to the clients of our many introducers.
Summary of areas covered:
- Stakeholder Pensions (company and individual)
- Personal Pension Plans
- E.P.P’s executive pension plans
- Annuities
- Pension Drawdown
- SIPP/SSAS (self invested pension plan/small self administered scheme)
- Final Salary Pension Schemes
- Money Purchase Pension Schemes
- Group Personal Pension Schemes
We have the ability to provide information in respect of new arrangements as well as reviewing existing schemes. As you may be aware the legislation in relation to pensions is constantly changing, and at Broom Consultants Limited we cannot stress highly enough the importance of knowing what you have, knowing what it will provide and more importantly knowing your pension is in the right place to achieve your future aspiration.
Can you allow yourself to reach retirement without knowing the standard of living you will be able to afford? Can you allow yourself to worry about it later rather than NOW?
Mortgage Programme
At Broom Consultants Limited the emphasis on speciality is continued, we have again looked at the mortgage marketplace and taken the bold decision to employ advisors who only provide advice in relation to Mortgages/Re-mortgage and the associated protection that should be recommended in association with this type of advice. By specialising our Mortgage advisers are continually aware of any new products or new ideas.
Summary of Areas Covered:
- New Mortgage
- Re-Mortgage
- Buy to Let
- Let to Buy
- Equity Release
- Commercial Lending
- Commercial Re-Financing
- Capital Raising
Our aim is to give you the ability to buy the home of your dreams in the most efficient and cost effective manner possible.
THINK? Are you paying too much for your current lending?????
Investments, Offshore, Ethical
When you work hard for your money it is beneficial to make it work equally hard for you. There is a wide spectrum of investment choices available to individuals as well as companies. However choosing the right one for you is dependent on many factors (Risk, Term, Growth or income are but a few of the considerations). We aim to make sure that any investment decisions made are based on accurate research, taking into account all your immediate or future aims as well as any other relevant factors.
Summary of Areas Covered:
- ISA’s (Individual Savings Accounts)
- PEP’s (Personal Equity Plans)
- Bonds
- Unit Trusts
- OEICS (open ended investment company)
- Offshore Investments
- Gilts
- VCT (Venture Capital Trust)
- National Savings
- Deposits
- EIS (Enterprise Investment Scheme)
- Friendly Society Investments
Prior to making any investment recommendations we need to gain a full understanding of a clients risk profile and his aspirations for the money available. Questions to ascertain if income or capital growth is of priority are critical in the investment process as is the clients current tax position.
Can you allow your money to wither and possibly die due to the effects of taxation and inflation?
Healthcare
Healthcare is becoming more and more prevailent as the confidence in the National Health Service diminishes. At Broom's we see Private Healthcare as a fantastic foil to the NHS, which is ideal when you have a health situation that cannot be dealt with in a timely fashion by the NHS. The benefit of being able to arrange immediate appointments to deal with health issues is often the driving force behind clients desire for cover in this area. To this end we at Broom Consultants will endeavour to provide you with advice and recommendation as to the company that we believe offers the level of cover that meets your needs in this area.
Life Assurance
The Financial Services Authority believe that protection (family and other) is the most important financial planning area covered when concluding a full financial review. At Broom Consultants Limited we agree with this assessment wholeheartedly. Whether you are protecting your home, your family or your business the need for relevant cover at an affordable price is in every bodies best interest.
Summary of Areas Covered:
- Level Term Assurance (Fixed Term fixed amount of protection)*
- Decreasing Term Assurance/Mortgage Protection (reducing cover over a fixed term)*
- Renewable Term Assurance (ability to increase cover with no additional underwriting requirement)**
- Whole of Life
- Family Income benefit (regular income for fixed term, fixed amount)*
- Permanent Health Insurance (provides income in the event of long term illness)
- Critical Illness Assurance (Provides lump sum on diagnosis of specified critical illnesses
- Corporate protection (See corporate programme)
- PMI (Covers medical expenses, dependant on cover chosen)
- Long Term Care (Assists in paying for care home fees)
- General Insurance (Home, Travel etc)
- ASU (Accident, Sickness and unemployment cover)
At Broom Consultants Limited providing the right level of protection is paramount. We know the ability to search the whole marketplace provides us with an advantage over many of our peers. Our status as Independent Financial Advisors gives us the ability to match the right company, cost and cover for your desired protection needs.
Can you allow yourself, your family or your company to suffer financial hardship due to your own lack of protection?
* Indexation is available from most providers to protect against inflation
** The amount you can increase cover by is legislated by the provider and may differ. Investment Programme
Long Term Care
With an ageing population the need for long term care is ever increasing. Broom Consultants are fully aware of the desire for individuals to look at the most efficient way of avoiding or reducing the impact of the costs of long term care on their estate. To this end we endeavour to offer advice and recommendations best suited to individual circumstances. This may include utilising existing investments to generate the necessary income to pay for Long term Care fees or an insurance type contract that provides cover against the costs for Long term Care. Whatever the situation maybe we can assure you, we will provide advice based on the information you provide and that best reflects your own needs and aspirations.
Inheritance Tax & Trusts Programme
In a world where more and more people have a potential Inheritance tax liability, we feel that planning now could potentially mitigate or considerably reduce the impending tax bill. We aim to guide people along the correct path for their own particular circumstances. As we are all aware no two households are the same and the needs of each individual will vary. What we want to achieve is a position where you the client are looked after during your lifetime, with the benefit of knowing that after your death the assets you have worked hard to build can pass to the people you care for the most.
Summary of Areas Covered:
- Writing an efficient Will
- Using both Nil Rate Band Allowances
- The use of Exempt Gifts ie: gifts on marriage, or annual exemptions
- PET’s (Potential Exempt Transfers)
- Loan Trust
- Discounted Gift Trust
- Flexible Trust
- Whole of Life in Trust
The above are various ways that Inheritance tax can be over come or reduced, however how they relate to you own circumstances depends on your personal needs and future aspirations. We would like the opportunity to help keep your money safe from tax man for the benefit of those you care for the most.
Recently the directors of the company all became qualified Will Writers as this was seen to be of major importance when assessing the most efficient way of Estate Planning.
DID YOU KNOW?????
Making an efficient Will could save your beneficiaries £114,000 in tax.
Corporate Programme
Before Becoming A Retained Client
- Initial Meeting – brief overview of the Corporate Tax Control Programme
- 2nd Meeting & presentation, Can I add value to your business?
Ongoing Service
Telephone Advice
Quarterly Newsletter including Market Reports
Twice Yearly Review Meetings – main meeting ideally 8 weeks before year end and secondary meeting on production of draft company accounts before tax is paid.
Summary of Tax Control Tools & Strategies that may be applied:
- Bank Account Review
- Business Planning & Forward Projection
- Car Purchase Options
- Company Valuation
- Reports to IR Standards
- Company Structure
- Contingency Planning
- Cross Options Agreements
- EBT’s
- Exit Planning
- Gearing
- Human Resources
- Keyman Protection
- Leasing
- Legislation Updates
- Liasing with Accountants & Solicitors
- Limiting Liabilities
- Offshore Opportunites
- Plant Renewal / Expansion Planning
- Profit Extraction
- Property Purchase
- Retirement Planning
- Salary v Dividends
- Share Purchase
- Spouse & Childrens Pensions
- SSAS v SIPP
- Succession Planning
- Tax Control
- Trusts
- Vulnerability Study
Standard items to each meeting agenda will include; business review, turnover update, profit projections, directors needs for income, salary / dividend update, staff changes.
In supplying corporate advice, Broom Consultants Ltd will need to be kept up to date with any changes in your personal circumstances or objectives.