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LighthouseCarrwood

Independent Financial Advisers

Working closely with accountants and other professional firms, we help people, and the businesses they own and run, create and preserve wealth.

All our advisers work alongside accountants to provide their clients with independent financial advice. We have been working in and with accountancy practices since 1994. We therefore have a good understanding of how they work, enabling us to provide that fully integrated wealth management service that so many practices want to offer.

If you are an accountant or other professional adviser and would like to discuss how we could provide a highly professional financial planning service for your clients call Phil Mason, Business Development Director, on 07795 017106 or email phil.mason@lighthousegroup.plc.uk.

If you do not have an accountant or the firm you use is not listed, don’t worry, we can still provide you with independent financial advice. To arrange an initial consultation with one of our independent financial advisers email enquiries@lighthousecarrwood.co.uk or call 0161 819 2525.

We are one of the UK’s leading providers of independent wealth management services to accountancy practices. Below are some of the firms with which we currently work.

If you do not have an accountant or the firm you use is not listed, don’t worry, we can still provide you with independent financial advice.

To find out more call Phil Mason, Business Development Director, on 07795 017106 or email phil.mason@lighthousegroup.plc.uk.

A Shaw & Co Ltd
AW Tax Limited
Blue Rocket Accounting
Bromley Clackett
Broomfield & Alexander
Carley Partnership
CED Accountancy Services
Chadwick & Company
Cheyette & Co Chartered Certified Accountants
D A Roberts Accountancy Services Limited
David Downes
David Goff Partnership
Grosvenor Partners LLP
Grugeon Reynolds Limited
Haxell Giddings Limited
Hedley Dunk Chartered Accountants
Hudson Accountants
Kirkpatrick & Hopes Ltd
Lemans
MHA MacIntyre Hudson
PEM
Price & Company
Richard Place Dobson
Richardson Watson & Co.
S4B (UK) Ltd
SJK Chartered Tax Advisers & Accountants
The Accounts Centre
Vernon Associates
Wenn Townsend

The links above are provided for your information and we are not responsible for the content of these sites.

Clients are expecting more and more from their accountant and are looking for comprehensive financial advice on all aspects of their affairs – personal and business.

Our experience shows that working jointly with clients’ accountants on an ongoing basis provides clients with advice that really is ‘joined up’, with the result that they are confident that clear strategies are in place.

In addition, providing wealth management advice can also provide a useful income stream for the practice.

The service works best when one of our independent financial advisers is based in your office(s) on a regular basis, for instance one or more days a week, and becomes part of your team. The service can be branded as you wish – your firm’s brand, jointly branded or as LighthouseCarrwood. In each case, we take full responsibility for all costs and liabilities, while you receive a share of all the revenue generated – from the outset.

Your LighthouseCarrwood IFA will work closely with you to deliver an integrated service that will benefit the personal and business aspects of your clients’ financial affairs. Our business model is designed to promote full integration, with LighthouseCarrwood responsible for management, compliance, back office systems and marketing, and working with you to integrate the service in a way that generates maximum business efficiently. We achieve this jointly by:

  • obtaining ‘buy in’ from your partners and staff
  • taking joint decisions when appointing advisers to your practice
  • explaining the service and its capabilities to your staff
  • making sure that our IFA has a full working knowledge of your practice
  • identifying, with your input, clients who could benefit from financial planning advice
  • implementing joint marketing initiatives to promote the service
  • identifying additional marketing opportunities, such as joint seminars on pension planning, IHT, etc
  • monitoring and evaluating the service
  • providing on-going in-house training for partners and staff.

Direct contribution to profitability, at little risk and little or no cost

Working in partnership with us enables you to offer a professional financial planning service with little risk and no financial investment. The practice receives a percentage of income generated through the service, including recurring income.

You gain an in-house, expert independent financial adviser who has access to extensive know-how and research, without having to deal with recruitment, employment, management, training or any of the regulatory requirements and compliance issues and their associated costs.

The service should make a noticeable and direct contribution to your profitability, producing a significant revenue stream at little or no cost to the practice. Importantly, it should enhance the service you provide to clients, help protect your client base and make it easier to attract new clients.

Have you thought about what you would like to achieve in life, for you and your family, and the money you need to turn your aims into reality?

We help you identify your objectives and work out what you could realistically achieve – retire early, buy that cottage in Cornwall (or Spain), pay off your mortgage, pass on your wealth to your children (or grandchildren), – and recommend a financial strategy designed to achieve your aims.

Taking into account your current personal and business circumstances, we generally seek to optimise your finances, reduce the amount of tax you have to pay, now and in the future, and limit the amount of financial risk to which you and your family are exposed.

We assess the financial impact of every decision you make. For example, if you have spare cash should you pay more into your pension or increase your mortgage repayments? We review your financial strategy with you each year to make sure that it is on track, and because your financial position and objectives are likely to evolve and may even change radically.

Working with your accountant

Most of our clients are referred to us by their accountant, ensuring we have a rounded view of your financial affairs when making our recommendations. Irrespective of whether we already work with your accountant, we will, with your permission, contact them to make sure we have a thorough understanding of your personal and professional circumstances.

Choosing investments likely to meet your objectives and timescale

Our role as independent financial advisers is to discuss with you what you would like to achieve with your investments. We make sure you understand that the more risk you take, the more money you could lose (as well as make), and agree with you the level of investment risk you are comfortable taking. We then recommend suitable ways of investing your money as tax-efficiently as possible – now and in the future.

Pensions: Building up the wealth you need to enjoy a comfortable retirement

Part of our role as independent financial advisers is to assess the pension provision you already have, whether from your current and previous employer schemes or personal pensions, and the contributions you are currently making. Then, taking into account your age, current income and financial situation, including savings, other assets and other considerations, we can put in place strategies which are designed to provide you with the amount you are likely to need in your pension fund when you retire.

Income in retirement: What you need to think about when drawing your pension

This is likely to come from a variety of sources, including savings and assets held outside of normal pension arrangements and so you need to think carefully before you take any action.

You can start drawing funds from your pension arrangements when you turn 55, taking out a tax-free lump sum if you so wish, and using the rest to generate income, which is taxable, now or in the future. You don’t have to stop work to start drawing your pension. You now have considerable flexibility over how you access your money and it is important not to accept the first annuity you are offered without having explored all your options.

Insurance and protection: Financial security for you, your family and your business

What would you and your family live on if you are unable to work for any length of time because of an accident or sickness, or if you are made redundant, or worse still, if you die? You or your family would still have to pay the mortgage, gas, electricity, food and other household bills and possibly also other major items of expenditure such as school fees. Similarly, your business would probably suffer financially should the unexpected happen.

You will probably need more than one type of insurance and for each type a huge number of policies are available. They can be surprisingly different as to the events and conditions they protect you against, how and when they pay out and to whom if you do need to claim, and how much they cost, together with the tax treatment of payments in and out.

We will assess the financial risks you, your family and your business may face if certain things were to happen and explain them to you. Once you have agreed the types and levels of cover you want to put in place, we find policies that offer these at competitive prices.

Reducing inheritance tax: Helping you pass on as much of your wealth as possible

We can help you pass on as much of your wealth as possible, reducing and possibly eliminating any inheritance tax payable on your estate when you die.

With the inheritance tax threshold at £650,000 for married couples (£325,000 for single people), even people with a relatively modest family home and few investments are realising that there will be tax to pay on their estate should they die. Any amount above the threshold is taxed at 40%. We can help you calculate how much inheritance tax might be due when you die and help reduce this, depending on your priorities.

Paying for long-term care

Being faced with the prospect of paying for long-term care can be stressful and worrying. State help is limited and care fees are expensive. If you have assets over a certain level you will have to pay for your own care. If you don’t take action, you are likely to find that you deplete your capital quickly and may even run out of money.

The good news is that you may be able to organise your finances in a way that makes your money go further. We are experts in providing practical advice to people who need to pay for care. As well as helping you find ways of paying for the care, we can also make sure that your affairs are in order.

Legitimate ways of reducing tax the amount of tax you pay

There are numerous ways of legitimately reducing the amount of income and capital gains tax you pay now, in the future or both, and the amount of inheritance tax likely to be paid when you die. Most involve putting money in a tax-efficient “wrapper” or “vehicle”, such as a pension, investment bond or trust.

Some ways of reducing tax are fairly straightforward and can be of lower risk, such as pensions and ISAs. Others, such as Venture Capital Trusts or Enterprise Investment Schemes, are more complicated and higher risk. As a rule of thumb no investment should be made purely because it reduces tax – it should also be a sound investment in its own right.

As independent financial advisers, we can make sure that your finances are arranged as tax-efficiently as possible, and that you are using the various allowances and exemptions available to you if it makes sense to do so. Many people are pleasantly surprised to find that some careful planning can noticeably reduce the amount of income tax they pay and enable them to pay less capital gains tax when they sell certain assets.

The financial health of a business generally has a direct impact on the personal financial situation of its owners and directors. That is why, working closely with your accountant and other professional advisers, we make sure we understand all aspects of your financial affairs.

Most businesses and their owners can benefit from advice on areas such as:

  • extracting profits tax-effectively
  • setting up appropriate pension schemes for all employees and meeting their auto-enrolment responsibilities
  • buying business premises as tax-efficiently as possible
  • planning their exit strategy tax-efficiently and in a way that gives the business the best chance of longevity
  • offering employees a competitive benefits package that is also cost-effective for the business.

We also flag up potential issues and any possible consequences. For example what would be the financial impact on you, your family and your business if:

  • a director or other key person could no longer work because they were seriously ill, or died
  • a major shareholder died and their heirs wanted to take the business in a different direction or sell their shares
  • the business was unable to repay a loan or overdraft, for instance because it lost its best sales person through death or serious injury
  • the person guaranteeing a business loan died and their heirs were faced with repaying the loan.

Our independent financial advisers make a complete assessment of your and your business’s current situation and objectives, talk to you about what you would like to achieve financially in the shorter and longer term and, having agreed a course of action with you, put in place arrangements to help you achieve the agreed objectives.

Mark Dallas, Managing Director

Mark has been working in wealth management for over 25 years, including over 14 as an independent financial adviser. He is responsible for the overall management of LighthouseCarrwood, including the administration and paraplanning centre in Stockport.

Mark has three children and his wife is a doctor at the Royal Berkshire hospital. He enjoys spending quality time with his family, including swimming and cycling. He plays the cornet in two brass bands in the Reading area and has recorded CDs to raise funds for cancer research.

Phil Mason, Business Development and Operations Director

Phil has been working in wealth management with accountants since 1990 and is responsible for expanding the number of accountancy practices with which LighthouseCarrwood works and making sure that all partners and key staff understand the breadth and scope of independent financial advice that LighthouseCarrwood provides. He is also responsible for ensuring that all LighthouseCarrwood IFAs have the materials and resources they need.

Important Information: The value of your investments and the income you receive from them can go down as well as up, so you could get back less than you invested. A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation. Tax advice which contains no investment element is not regulated by the Financial Conduct Authority.2017-01-23 17.0404

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Registered in England No. 05626656. LighthouseCarrwood Limited is an appointed representative of Lighthouse Advisory Services Limited which is authorised and regulated by the Financial Conduct Authority (FCA registration number 195199). LighthouseCarrwood Limited is a wholly owned subsidiary of Lighthouse Group plc.