At RobMac we take the time to understand your requirements and what you hope to achieve from investing your money.
There are a number of factors to consider before deciding whether an ISA, a Unit Trust, Investment Trust or any other tax efficient investment solution is the most appropriate for you. It is important to understand the differences before you feel comfortable committing your savings to any form of investment. At RobMac we will guide you through all the options to find the best solution.
Inheritance tax strategies
Tax efficient lump sum investment products such as VCT and EIS
How we can help – case studies
I played a lot of golf with Jerry. He enjoyed a very successful career in information technology, pioneering work in early computer technology which eventually lead to Edinburgh University spin off work and the sale of his company to a major US concern.
We did some investment work for his family, much of his wealth was managed by an Edinburgh private bank with a St Andrew’s Square address, smart offices and what turned out to be high fees, dwindling service standards and highly ordinary portfolio returns. This relationship was creaking when I first met Jerry and his wife but the final straw was when they wanted to offer on a property and no one in the bank was there to step in with funds to make the purchase despite the fact that they had several million invested with the bank and no other commitments.
He approached RobMac through a referral from his accountant and sounded us out as to our fees, investment philosophy, tax strategy and so on and let us have very detailed (as you might expect) notes of his requirements. Like many others who are the primary income sources for their household, he wanted to ensure that his spouse and children were provided for.
He liked what he heard and we agreed an orderly transfer of assets from the bank and over time shaped these into sound long-term capital growth vehicles taking advantages of tax benefits and reducing costs where we could.
Everything is done online with funds held on a centrally managed platform or wrap where everything can be seen and monitored 24/7 in once place and all processes are automated.
Many of the investments we chose are investment trusts. These are ideal for the longer term as they pool investors’ funds in a corporate structure where the managers can concentrate solely on the companies they choose to own and invest into. Edinburgh has many investment managers who possess the skill set to run the trust but many advisers including the bank did not hold any trust investments.
Jerry always said to me that coming to RobMac gave him a feeling of continuity and comfort. We could spend hours chatting about any subject and I think he thought it was a return to an old school world of personal service and integrity.
We look after Jerry’s wife and children now but his legacy lives on. Obviously we live and move with the times but some things will never change.
What do you want to achieve with your investment?
Think about what it is you want to achieve whether it is building up a nest egg, saving for a house or building up retirement funds.
How do you choose an independent financial adviser?
Research an IFA by exploring their fees, qualifications, references, investment approach, and their attitude to risk.
Always check that your adviser has the appropriate qualifications and experience. Preferably seek out an adviser by way of professional or personal recommendation.
Take into account your own objectives too; do you need a full service option including financial planning or do you need light touch advice or even just an annual sense check.
By matching these two, you should get a better feel of the IFA that will best meet your requirements.
Is the financial adviser independent and regulated?
The answer to both of these must be yes.
If they are independent, they will be unbiased towards any investment fund, bank or mortgage provider and only offer you solutions that meet your requirements and not theirs.
If they are regulated by the Financial Conduct Authority, you know that they have had to comply with rigorous guidelines and certifications for both individuals and their business as well as undertaking to treat all customers fairly. Further details of the FCA guidelines for financial advisers can be found here: Financial Advisers | FCA
How does payment for financial advice work?
To keep it simple, use fee only advisers. They will charge a % of assets invested for services or an hourly rate which is all agreed in advance.
You need to know all your costs. These include your adviser fees, your fund and platform fees and any brokerage costs. Any excess fees can make a massive difference as to how your funds will grow.
Transparency is key if you are going establish a good working relationship with your IFA.
What is asset allocation and what should you use?
Asset allocation is an investment strategy that aims to balance risk and reward by apportioning a portfolio’s assets according to an individual’s goals, risk tolerance, and investment horizon.
The three main asset classes – equities, fixed-income, and cash and equivalents – have different levels of risk and return, so each will behave differently over time.
Your portfolio structure should be spread through all asset classes, different geographies, and sectors. Invested both in the UK and overseas and should not be focused in one area.
What is a benchmark?
A benchmark is a standard against which the performance of an investment plan can be measured. It should be set in line with your financial goals and your attitude to risk rather than tracking an index such as the S&P500 or the FTSE100.
Does RobMac handle client funds?
RobMac does not handle client funds and only uses secure custodian services.
Can you monitor investments, check on income, monitor fees and costs, view communications or access tax reports?
All of these services will be available to you online via a secure password protected account.
How do you work out your investment philosophy?
It may be that you already have an established investment philosophy which you can advise your IFA of.
If not, you need to work with your IFA to establish what that investment philosophy should be. Their understanding of your investment objectives and your financial position will help develop that.
Once established, a good adviser will help you stick to that investment philosophy despite any potential adverse or positive market conditions which often go through fluctuating cycles.
Your IFA should be a steady hand, aware of market trends and always gives you sound guidance based based on core principles that are tried and tested over the medium to long term.
If you would like to discuss your financial position further with one of our consultants (without obligation), then click on the button and select a suitable time and date to arrange a meeting.
Your investment may fall as well as rise and you may not get back what you put in.
VCT and EIS investments are very high risk and you may lose your capital.
The Financial Conduct Authority does not regulate Tax advice.
If you would like to learn more about how Rob Mac can help you then please call us now on 0131 226 6700 or send us a message by clicking here.
Robson Macintosh & Company Ltd.
15 Manor Place, Edinburgh, Scotland, EH3 7DH
Tel: 0131 226 6700 Email: email@example.com
Registered in Scotland No. - SC232903.
Registered office: 15 Manor Place, Edinburgh, EH3 7DH
Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.