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Financial Advice for Savings & Investments

We aim to simplify the financial challenges you face, by creating and protecting your wealth for you and your loved ones.

Investing shouldn’t feel like gambling at a casino. At Heritage, we take an evidence-based investment approach aligned with your appetite for risk and financial goals. 

Welcome To Heritage Financial Planning, independent financial advice for savings and investments

Do any of these statements apply to you?

  • I’ve built up a substantial portfolio over many years, but I’m confused by the thousands of investment options available.
  • I’m looking to start investing with one eye on retirement.
  • I have built up a lot of cash in my current account/ISAs.
  • I’ve received a windfall/inheritance, and I’m looking to protect the value against the effects of inflation.

If so, Heritage Financial Planning can offer our professional support and guidance.

Our philosophy on investing is based on rigorous academic research rather than trying to predict winning fund managers or back individual companies. We are totally independent and will look to invest your portfolio in a global, low-cost, diversified portfolio aligned with your appetite for risk.

It’s our strong belief that this approach achieves more consistent results than the vast majority of fund managers, who, as the evidence has shown, fail to beat their benchmarks after fees.

Contact us to arrange a consultation and start your investment journey.

What is financial and investment planning?

Financial and investment planning involves setting short and long-term financial goals and putting a strategic roadmap in place to meet them. It’s important to take a holistic view of your finances, including your cash flow, earnings, savings, property, emergency fund, investments and debts, before deciding how to allocate your assets to investments like stocks and bonds.

If you have never invested before or don’t have the time to manage a portfolio, it’s vital to get the right advice from a professional financial adviser like Heritage Financial Planning.

What’s the difference between saving and investing?

Saving is the proverbial piggy bank. It’s the practice of regularly setting aside funds in low-risk accounts (most commonly in a bank or building society) and accrues modest interest over time.

Investing is the practice of allocating resources to various assets, such as stocks, bonds, or mutual funds, with the aim of generating substantial returns over the long haul. While making your money work harder, it does, of course, come with a degree of risk, which should be managed carefully with expert advice. Heritage Financial Planning can guide you on which investments to make to match your risk tolerance based on historic market volatility.

What Types Of Savings Are There?

The range of deposit accounts available in the UK is very broad, but to name a few:

  1. Instant Access Savings Accounts: Low-risk accounts from banks and building societies that allow you to deposit and withdraw money easily and provide functions such as setting up a standing order, all while earning interest.
  2. Cash ISAs:Tax-efficient savings accounts that provide a way to save while shielding your money from capital gains and income tax. See our quick guide to ISAs below.
  3. Notice Accounts:Advance notice (usually 30 to 90 days) is required before withdrawing funds. They often offer a higher interest rate compared to instant access savings accounts.
  4. Regular Savings Accounts: A regular saving with a fixed monthly amount. They often offer higher interest rates but may have limitations on the maximum deposit amount.
  5. National Savings and Investments (NS&I): A range of products backed by the government, including Premium Bonds and Income Bonds, with varying levels of risk and return.
  6. Investment Funds: For example, unit trusts and open-ended investment companies (OEICs), where money is pooled from multiple investors to invest in a diversified portfolio of assets, such as stocks and bonds.

When choosing a savings vehicle, it’s important to take into account factors like interest rates, access to your money, risk levels, individual circumstances and tax treatment.

Our team of experts can assist you in understanding the different options and help you to make an informed decision for your future.

Our Savings Management Service

Your dedicated financial adviser can create a personalised savings plan that sets you on the path to financial success, balancing both the risks and returns. We can offer our impartial and independent advice whether you are looking for instant access savings accounts, Individual Savings Accounts (ISAs), or other saving vehicles. You can rest assured that our only goal is to invest in your best interests.

A Quick Guide To ISAs

Nobody wants to pay tax, which is why ISAs are so popular! They are designed to allow individuals to save and invest money while enjoying tax advantages such as tax-free capital growth and income.

There are 4 types of ISA currently available:

  • Cash ISA
  • Stocks and Shares ISA
  • Innovative Finance ISA
  • Lifetime ISA

Each tax year, there is an annual ISA allowance, which sets the maximum amount you can contribute across all types of ISAs. The ISA allowance is currently £20,000 (June 2023).

For individuals aged 16 and above, Cash ISAs provide a tax-efficient savings solution. Those aged 18 or older can choose to save or invest in the full range of ISA products.

Junior ISAs are available for children up to 18 years old. These Junior ISAs provide a tax-free and long-term savings account, allowing parents and guardians to contribute towards their child’s financial future from an early age. These currently have an annual allowance of £9,000 per child.

What Types Of Investments Are There?

Different types of investment vehicles include:

  1. Stocks:Investing in individual company shares, which represent ownership in a company and offer the potential for capital appreciation and dividends.
  2. Bonds:Purchasing fixed-income securities issued by the government, municipalities, banks or corporations, which pay periodic interest and return the principal amount at maturity.
  3. Mutual Funds: Professionally managed investment vehicles that pool funds to purchase diversified portfolios of assets.
  4. Exchange-Traded Funds (ETFs): Similar to mutual funds, ETFs are investment funds that trade on stock exchanges, representing a diversified portfolio of assets.
  5. Property:Buying properties or investing in real estate investment trusts (REITs) that own and manage income-generating properties.
  6. Commodities: Investing in physical goods like gold, silver, oil, or agricultural products, often done through commodity futures contracts or exchange-traded funds.

Our Investment Management Service

Based on rigorous research, careful analysis and consideration, we aim to construct a well-balanced investment portfolio that puts your longer-term savings to work and encompasses a wide range of assets, exposing you to global markets.

Investment Planning

Asset Allocation

Asset allocation is the single biggest determinant of the returns and risk profile of your portfolio, which is where much of our focus lies.  

Investment Strategy

Risk Profiling

Once we have agreed on your risk profile, we will then look to invest in inexpensive index funds aligned to your profile and diversified by asset class and geography.

Investment Selection And Management

Once your asset allocation and risk profile are set, we will help you choose the best place for your hard-earned cash. We adhere to an evidence-based investment approach and aim to invest your portfolio in a globally diversified, low-cost manner that aligns with your risk tolerance.

Get In Touch With Heritage Financial Planning To Manage Your Savings And Investments

At Heritage, we have many years of experience as financial planners, providing savings advice and managing investments, and you can expect a highly professional from our close-knit team. Helping you to meet your current and future financial goals in the most tax-efficient way is our absolute priority.

Following a thorough review of your existing investments, we will gauge your appetite for risk and devise your bespoke financial plan, including our recommendations on how to invest your money.

Reviewing your portfolio on an ongoing basis, we will be with you every step of the way on your financial journey. Your circumstances and goals will naturally change over time, but we will be on hand to tweak your portfolio to meet your requirements.

Along with our savings and investments advice, we can offer a range of related financial services, such as pension planningequity release and inheritance tax planning. Together, we will help you to make informed decisions to shape your future, protect your family and set you on the path to financial freedom.

If you would like to discuss your options with one of our independent investment advisers, please get in touch.

Are my investments safe?

We understand that the safety of your investments is your top priority. While all investments inherently carry some level of risk, there are measures in place to protect your investments to a certain extent.

When you invest in regulated financial products, such as stocks, bonds, and funds, they are typically held in custody by trusted financial institutions. These institutions have safeguards in place to protect your investments from fraud or misappropriation.

In addition, the Financial Services Compensation Scheme (FSCS) provides a level of protection for certain investments in the UK. The FSCS is a statutory compensation scheme that can provide compensation to eligible investors if a financial firm becomes insolvent and cannot return its investments or money. This compensation is typically £85,000 per person per institution.
The FSCS protection applies to specific types of investments, such as cash deposits, stocks and shares, and investment funds, up to certain limits. The coverage and limits may vary depending on the type of investment and the circumstances however, this is typically £85,000 per person, per institution.

However, it is important to understand that investment values can fluctuate, and there are inherent risks associated with different investment vehicles. Factors such as market conditions, economic events, and individual investment choices can impact the performance of investments, and you may get back less money than you invested in the first place.

Why should I not just invest in a cash ISA?

Historically the returns on deposit-based accounts such as cash ISAs and current accounts have been less than inflation.

This means your money is losing money in ‘real returns’. Real returns are simply the return on your investment minus inflation.
  
In order to achieve returns above inflation and at least protect the value of your investments against inflation, you should be prepared to invest in other asset classes. 

How do I know how much risk to take with my investments?

This is a subjective question, and we will assess your ‘attitude to investment risk’ based on various factors such as your previous investment experiences, your investment time horizon, capacity for loss/alternative assets and income and how you have reacted or behaved during other periods of market volatility. 

As well as completing a risk profiling questionnaire, this will give us an idea of the level of investment risk you would be comfortable with taking. 

Isn’t investing ‘risky’?

Whilst it is true that if you invest in assets other than cash, you will expose your money to investment risk and volatility.  However, we will invest your money in a variety of asset classes, which should add some diversification benefits to your portfolio to try and dampen the volatility.

We would also recommend never investing your money if your time horizon is less than 5 years. This is because the longer your time horizon and your money is invested, the greater the chance your funds have to achieve a positive return and recover after periods of market stress, such as the banking crisis in 2008 and the onset of COVID in early 2020.

What is ‘pound cost averaging’?

This involves investing on a regular, automatic basis. This should afford you some protection against financial markets falling dramatically after your money is invested.

Should financial markets fall, this is actually beneficial to you as you can purchase your investments at a cheaper price, which, all things being equal, should result in a higher expected future return. If you are saving into a workplace pension, you will be doing this automatically.

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We are a family run business of Independent Financial Advisers, that specialises in providing trusted advice from navigating retirement and optimising your income, through to buying your first home. You will always be treated as a person and not a number, with many of our clients having been with us for decades.