BRISTOL FINANCIAL ADVICE
  • Home
  • Services
    • Individuals | Families
    • Business Clients
    • Planning Process
    • Ethical Investing
  • Retirement Strategy
  • IFA Blog
  • About
  • Testimonials
  • Contact

Don't Keep Your Savings In A Bank! Here's Why

4/8/2021

0 Comments

 

    Free Initial Consultation!
    Please provide your best contact details and we'll get back to you right away.

Submit
0 Comments

Keeping your savings in a bank is one of the worst things you could do with your wealth!

4/6/2021

0 Comments

 
​Some people think that is prudent to keep your money in savings in a bank, but actually that is one of the worst things you could do with your wealth over an extended time period. Cash is a terrible storage medium in the long term because of inflation - if you compound inflation at just 2.5% for 10 years your money would actually be worth 28% less than it was at the beginning of that decade! That devaluation shows the erosion in the real purchasing power and assumes you are receiving no interest payments on the account.
coins and bills
“What about property?” a lot of people say. Well bricks and mortar is generally regarded as a relatively safe haven but the market is cyclical and is well known to crash periodically. The stock markets tend to outperform property over the long term and most investors’ portfolios are heavy in property anyway in the form of the family house.
​I recently saw a relatively wealthy lady who was worried that she was going to have to keep working for years to come and maybe even have to die with her boots on (metaphorically speaking). Using special software tools, we looked at how much income she would actually need in retirement where her mortgage had been paid off. I was able to demonstrate to her that even if she took a larger income than she needed, and lived well past her average life expectancy age, she would have more than enough money to retire now and still be able to pass a generous legacy down to her children.

woman at coffee shop using phone
Money is the best device for storing energy that human beings have devised to date.
This means your wealth is literally a reserve of all the energy that you have amassed at this point in your life. I help you ensure that you aren’t taking any more risk than you need to in order to achieve your objectives.
I kind of have three different roles within my work with you:
First, as a Financial Planner, I look at your bigger picture scenario and answers to three big questions:
  • How did you arrive at your current perspectives on money?
  • Are you managing your money in a way that is improving your life?
  • Are you financially ready for life’s big transitions?​ ​
financial planning
Secondly, as an IFA, I am Independent, not limited to a restricted panel of providers. Our proposition offers genuine whole of market access and I am fully accountable and liable for my advice. As a client, you are entitled to make a complaint through our Customer Disputes Resolution Process which is ultimately enforced by the Financial Conduct Authority and protected by the Financial Services Compensation Scheme.
 
And finally, as a Wealth manager - this is the analytical bit where I look at charts, graphs and performance statistics for the funds that you are invested in. I make sure that your numerous tax allowances are being utilised and that your overall portfolio is fully optimised, properly balanced, competitively charged and that you are in the best performing funds.
We add significant value to your portfolio in many ways - way more than we charge in our fees which are just a relatively small percentage. This is always broken down explicitly in our reports and demonstrated so that our advice should more than pay for itself in the long run. In a nutshell, I think that probably the main thing that I provide for you is reassurance and peace of mind that you can do what you want to without having to worry about money because we’ve made a thorough financial plan together to take care of things.
piggy banks
​So why put your money in a bank when you can have a Financial Planner, an IFA and a Wealth Manager taking care of you and your savings?
 
Start adding value to your future now. Let’s schedule a call and I’ll show you how.
0 Comments
    Picture

    Author

    Park here for original insights and a perceptive view on independent financial advice.

    Archives

    August 2021
    June 2021
    April 2021
    February 2021

    Categories

    All
    Financial Planning
    Pension Funds
    Retirement Income
    Savings
    Why Hire A Financial Adviser

    RSS Feed

Home

Services

Retirement Strategy

About

Testimonials

Contact

Crystal Wealth Management
0117 456 5150
  • We offer independent financial advice to individuals, families, business owners and directors, aimed at UK Residents only.​
  • Tax Planning, Will Writing and Inheritance Tax Planning advice is not regulated by the Financial Conduct Authority
  • 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.
  • Investments: The value of units can fall as well as rise, and you may not get back all of your original investment.
  • Life Cover (Non-Investment) and Income Protection: The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
  • Critical Illness Plans: The policy may not cover all definitions of a critical illness. For definitions of illnesses covered please refer to the Key Features and Policy Documents.
  • PMI: The insurance may not cover all definitions of pre-existing conditions, or some long term illnesses and treatments. For definitions of the conditions covered please refer to the Insurance Product Information Document.
Crystal Wealth Management Ltd is an Appointed Representative of The On-Line Partnership Limited
​which is authorised and regulated by The Financial Conduct Authority.

Crystal Wealth Management Limited is committed to the security of your personal data ​​and takes the protection of your privacy very seriously.
​We will only use your personal information to deliver the services you have requested from us and to meet our legal responsibilities.
​
© 2020 All Rights Reserved, Crystal Wealth Management Limited  |  Registered Office: 19 Portland Square, Bristol, BS2 8SJ
FCA registration number: 717673     Registered in England and Wales     Company number: 04931573​
Terms of Service | Privacy Policy | Cookie Policy | Customer Disputes
Powered by:  TPPro Digital Marketing (Clicking this link will take you to an external, website)
Listed in the UK Business Directory | Listed in the Bristol Directory
  • Home
  • Services
    • Individuals | Families
    • Business Clients
    • Planning Process
    • Ethical Investing
  • Retirement Strategy
  • IFA Blog
  • About
  • Testimonials
  • Contact