Independent Financial Advice for individuals, businesses and trustees

You can rely on Bishop Fleming Independent Financial Advisers (IFAs) to give you impartial advice.

Our advisers are truly independent, so you can be reassured that they will recommend only the best insurance and investment products for you, without being influenced by external factors, like how much commission they might receive.

If we recommend products to you, it's because they are the best available for you and your circumstances, in our adviser's opinion. All our advisers have significant experience and hold Chartered Insurance Institute (CII) qualifications, so they're in a good position to offer advice you can trust.

Additionally, all our consultants are salaried employees which we believe provides another measure to ensuring our clients receive the most appropriate impartial advice.

As a subsidiary of Bishop Fleming, at Bishop Fleming Independent Financial Advisers we have access to all the services Bishop Fleming can provide, including tax advice and financial forecasts to business planning and corporate finance.  You can therefore be reasured that wherever appropriate, we can put you in touch with other qualified advisers.

We provide our services to individuals, companies and trustees. If you come to Bishop Fleming for help with planning your finances, we’ll start by meeting up and getting to know you, what your existing financial circumstances are and what you’d like to achieve. We’ll listen to your thoughts and explore a range of possibilities with you, including making recommendations when there are courses of action that you might not have been aware of.

We will put our advice into a report and we can continue to discuss the recommendations until you’re content that you have found the right solutions.  Once the recommendations have received your approval your adviser will then arrange investments and draw up contracts with the providers on your behalf.

 
 
 

Our specialist Independent Financial Advice Team

 
 

Corporate Clients

Pension Planning

The best way to take benefits from your business might seem complex or confusing, but we can help. Looking at the interaction of salary, dividends and pensions as a way of taking benefits from your business can be complex however with advice, the options to you can be highly beneficial.

Whether you’re self-employed, a company director or an employee we can provide pension planning advice that will work effectively for you and your business. This advice doesn’t only incorporate new money into new pensions but is also aimed at reviewing the benefits of any of your existing arrangements and make suggestions for improvements.

Employee Benefits

An attractive benefits package can help you recruit – and keep – the best people. We can review the benefits you already offer and suggest others. You might consider life assurance, income protection, private medical insurance and flexible benefits. We can help you explore these options and ensure you get the best value for money on any benefit schemes you choose to employ. Once chosen, communicating the benefits to your workshop is crucial and if you don’t do this you may be undermining their value to your employees. We offer a bespoke solution in communicating benefits packages to a wide range of companies including small businesses right through to PLCs. Contact us if this is of interest to you.

Protecting your business

Owner managers of businesses often overlook the value of their business and the impact that the death or serious illness of a business partner or co-director may have. We can help you with contingency planning, risk assessments and provide solutions so you are prepared if a key person within your business died or became too ill to work.

Private Clients

New portfolio

Whether you’re an experienced investor or you’re investing for the first time, we can advise on a range of products to meet your objectives. We will ensure that your portfolio is tailored to meet your requirements and investments are held tax efficiently.

As truly independent advisers, we can access the whole of the market when providing investment advice. Whether you are investing for growth, income or for a specific purpose i.e. school fees, marriage or early retirement, we can recommend the correct asset allocation, fund type and contract to meet your needs in the most appropriate way. Our recommendations will consider using unit trusts, OEICs, ISAs and Investment Bonds depending on what is most well suited to your individual circumstances.

Existing portfolio

Our IFAs will review your existing portfolio to ensure that your holdings continue to meet your current and future needs. Once in place, we’ll offer regular review meetings and consolidated portfolio valuations. Our agreed investment objectives will allow us to advise you strategically over the long term and as such, we will only recommend changes when necessary.

Pension Planning

Our qualified advisers can help you plan an income for your retirement by reviewing your pensions options.

You may be looking for a longer term tax efficient savings plan to provide you with an income in 30 years time or you may be looking to take an income now via self-invested pension fund withdrawal. Perhaps you already have a pension, or several of them and want to know what options are open to you for changing or improving your investments. You may also want to consider a commercial property investment under your plan.

Our advice includes:

  • Personal Pensions
  • Stakeholder Pensions
  • Retirement Options (Annuity purchase, Pension Fund Withdrawal)
  • Executive Pensions
  • Pension Transfers
  • Self-invested Personal Pensions (SIPP)
  • Small Self-Administered Schemes (SSAS)

Inheritance Tax Planning

Working closely with tax specialists from our parent, Bishop Fleming, we can provide advice on a range of Inheritance Tax* solutions.

With there only really being two ways to mitigate the effects of Inheritance Tax, planning is essential:

  1. Giving away capital during the lifetime is the most simple but essentially means you lose control of the money.
  2. Fund a scheme from income and capital with a view to covering the potential liability. This could involve a long term commitment so you need to be sure you can afford this commitment without jeopardising your own position.

Within both options exist a range of more complex arrangements including: lifetime settlements, exempt assets, use of business property relief, life assurances written under trust, discretionary will trusts, gift and loan trusts and discounted gift trusts.

Seeking professional advice in this area is essential. By working closely with our tax colleagues at Bishop Fleming we can provide advice on a range of solutions.

* The FCA does not regulate some forms of Inheritance Tax Planning.

Protecting your future

We’re able to advise you on cost effective ways to provide family income if you’re suddenly unable to work, due to accident, critical illness or death. We can provide advice on the following types of cover:

  • Family income benefit
  • Term assurance
  • Whole of life
  • Critical illness

It is also important to plan ahead to ensure that in the event of having to make a claim the benefits go where you want without creating an inheritance tax liability.

Trusts

Unlike private individuals, Trustees are obliged by the Trustee Act 2000 to seek advice from a suitably qualified professional regarding their investments.

Many of Bishop Fleming’s consultants hold the Chartered Insurance Institute’s Advanced Financial Planning Certificate qualification “Taxation & Trusts” (G10), in addition to having many years’ experience.

We can help you structure new Trust investments and provide ongoing advice to the Trustees in respect of their investment requirements. Whilst the advice is tailored to the needs of the Trustees, the advice process and portfolio advice given is similar to our approach for private clients (see section above).

Bishop Fleming Independent Financial Advisers is a trading style of Fleming Financial Limited, which is registered in England at Salt Quay House, 4 North East Quay, Sutton Harbour, Plymouth, Devon, PL4 0BN. Company registration number: 04420757. Fleming Financial Limited is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority (FCA) does not regulate taxation. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK.

Full details of the FOS can be found at
www.financial-ombudsman.org.uk

 

Independent Financial Advice News

 

Beware – look before you leave your workplace pension

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A person who opts out of a workplace pension during their working career may wish they hadn’t when they reach retirement age. A report commissioned by Royal London highlights the impact of opting out of a […]

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When I’m 68… state pension age rising again

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The government has announced plans for a further increase in state pension age. On the day before parliament shut up shop for its summer holidays, David Gauke, the Secretary of State for Work and Pensions, […]

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