So I'm new to recent contracting (did some back in the 90s!), my first contract is inside IR35. I need some help looking at my finances both in terms of keeping my tax burden lower (ie. selecting and putting more into a pension, NEST is default through Umbrella but I can choose another provider if I pay a slightly higher fee). I've got a few previous pensions (civil service plus more recent company pension (Scottish Widows)). Can anyone recommend a truly independent financial advisor who can help look at my overall financial position? I know getting decent advice is well worth the money.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Financial advisor (pensions, savings etc)
Collapse
X
-
-
I've recommended this firm, Ian Wilson specifically, to a few people and they've been helpful. They sorted out combining lots of bits of pension pots for me.
http://forumwealth.com/
They know how to deal with contractors and will happily talk to your accountant to explain any queries they may have once you've confirmed a course of action.
-
Where are you based? I would recommend mine but not sure if they focus on their own area... they used to but these days they are used to Zoom meetings and might not care.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
-
Thanks, it does look like more of a "Wealth Manager" would be best as they cover everything not just pensions. Need to do some research.Comment
-
Originally posted by Aeia View PostThanks, it does look like more of a "Wealth Manager" would be best as they cover everything not just pensions. Need to do some research.
Sounds like someone claiming to be something that is not regulated. IFAs are heavily regulated.
If you are a high wealth individual then wealth managers have some value. If you're a general customer, with minimal assets (pension < £1M and house < £1M), then do you really want some whiz-kid recommending a scheme based in the Cayman Islands?See You Next TuesdayComment
-
Yeah a decent IFA sounds like what you need if this is really just about pensions and getting a handle on where you stand with savings, pension, mortgage, etc. They would likely advise on things like life cover (i.e. does your existing cover match your debts and costs), maybe wills and things as well.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
-
Thanks all, do think a general IFA may be best. I'm nowhere near the 1M mark and financially things are simple (no mortgage (at the moment but may consider moving at some point to something more costly but no current plans), no kids, no dependents well a husband but he can look after himself :-) )Comment
-
Found myself inside for a short time, could not find anything better than massive pension contribution to my SIPP to take the edge of the tax take.Comment
-
Originally posted by Aeia View PostThanks, it does look like more of a "Wealth Manager" would be best as they cover everything not just pensions. Need to do some research.Blog? What blog...?Comment
-
Originally posted by Aeia View PostSo I'm new to recent contracting (did some back in the 90s!), my first contract is inside IR35. I need some help looking at my finances both in terms of keeping my tax burden lower (ie. selecting and putting more into a pension, NEST is default through Umbrella but I can choose another provider if I pay a slightly higher fee). I've got a few previous pensions (civil service plus more recent company pension (Scottish Widows)). Can anyone recommend a truly independent financial advisor who can help look at my overall financial position? I know getting decent advice is well worth the money.
Kind Regards
BenComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment