Finance


Getting your finances off to a good start in 2013


Important changes are taking place on the 1st January 2013, which will affect the way all customers pay for financial advice.


From this date commission payments from investments will be abolished and the adviser must charge a fee for their service. In fact the customer has always paid but the payments have simply been hidden underneath a layer of product charges in the past. It will now be easier to identify the true cost of the adviser’s service and judge whether it is good value for money. First rule is, don’t let fees put you off seeking advice!


Most people start the New Year with every intention of sorting


out their finances and there has never been a more important time to start saving something for the future. We have all felt the effect of austerity so what can you do to help yourself?


Reduce your outgoings. There are some exceptionally low


mortgage rates available and if you are on a standard variable rate, now is definitely the time to check out what the opposition is offering. If you require ‘certainty’ then consider a longer term fixed rate mortgage. Good advice for all borrowers is to make sure that you have a plan in place to repay your mortgage long before you retire.


Save for retirement. You may have read that all employers


will have to offer their employees a pension scheme. These changes are being phased in over several years so find out what is happening at your place of employment and start saving for retirement as early as possible. Don’t leave your future financial security to chance!


Releasing Equity. If you are considering an Equity Release


Scheme, get advice from a specialist to ensure you do not make the wrong decision. There may be an alternative solution which you have not considered.


Research the best annuity. You may have also read about


the new Gender Ruling and how this can impact on annuity rates. It is estimated that 2 out of 3 retirees do not explore the open market option and stay with their existing pension providers but many of the older pension companies do not offer competitive annuity rates, so those people are losing out. If you suffer from diabetes, high blood pressure or other existing health conditions, don’t forget to ask if you will qualify for an ‘Enhanced Annuity’.


Invicta financial review service is specifically designed to help


the customer make the right choices. We conduct whole of market research to find the best mortgage rates or the most competitive annuity rates and we also help with financial planning tips including how to reduce the amount of tax you pay!


For more information refer to our website or why not call now to discuss your New Year’s Resolutions?


Have you reviewed your finances recently?


Invicta Independent Financial Advisers can help with all your financial planning enquiries. We are a local business offering a friendly but professional service to individuals and small businesses. Our specialist areas include:-


 Mortgages  First Buy/Shared Ownership


 Income Protection  Life Assurance  Pensions & Retirement Planning


 Business Assurance  Annuities  Savings & Investments  Trusts & Inheritance Tax Planning


 Equity Release


Telephone: 01622 662636


Email: enquiries@invictaifa.co.uk www.invictaifa.co.uk


Address: Invicta IFA, 1st Floor Falcon Court, 73 College Road, Maidstone, Kent, ME15 6TF


Registered Office: The Granary, Hermitage Court, Hermitage Lane, Maidstone, Kent, ME16 9NT. Registered in England No. 3330755.


Invicta IFA Limited is authorised and regulated by the Financial Services Authority.


The Financial Services Authority does not regulate taxation and trust advice. There may be a fee for mortgage advice, the precise amount of the fee will depend upon your circumstances but we estimate that it will be £395. Your home may be repossessed if you do not keep up repayments on your mortgage.


To understand the features and risk of an Equity Release plan please ask for a personalised illustration. Mid Kent Living 33


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